Norwood Financial (NASDAQ:NWFL) Stock Price Crosses Above 50 Day Moving Average – Here’s Why

Norwood Financial Corp. (NASDAQ:NWFL)’s stock price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $30.10 and traded as high as $30.13. Norwood Financial shares last traded at $29.36, with a volume of 26,484 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Norwood Financial from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings raised shares of Norwood Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, April 29th. Finally, Stephens set a $33.00 target price on shares of Norwood Financial and gave the stock an “equal weight” rating in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $33.00.

Norwood Financial Stock Performance

The company has a market cap of $319.73 million, a price-to-earnings ratio of 10.83 and a beta of 0.56. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.31. The stock’s fifty day simple moving average is $30.10 and its 200 day simple moving average is $29.46.

Norwood Financial (NASDAQ:NWFL) last released its quarterly earnings data on Monday, April 27th. The financial services provider reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.09). The business had revenue of $27.27 million during the quarter, compared to analyst estimates of $27.50 million. Norwood Financial had a net margin of 17.75% and a return on equity of 12.43%. As a group, analysts anticipate that Norwood Financial Corp. will post 3.45 earnings per share for the current year.

Norwood Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th were issued a dividend of $0.32 per share. The ex-dividend date was Wednesday, April 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.4%. Norwood Financial’s dividend payout ratio (DPR) is currently 47.23%.

Insider Buying and Selling at Norwood Financial

In related news, CFO John Martin Mccaffery, Jr. acquired 1,000 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was purchased at an average price of $29.44 per share, with a total value of $29,440.00. Following the transaction, the chief financial officer owned 4,000 shares of the company’s stock, valued at approximately $117,760. This trade represents a 33.33% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have purchased 3,297 shares of company stock worth $97,483. Company insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On Norwood Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NWFL. Wellington Management Group LLP boosted its position in Norwood Financial by 40.1% in the 4th quarter. Wellington Management Group LLP now owns 888,812 shares of the financial services provider’s stock valued at $24,931,000 after buying an additional 254,259 shares during the period. Bulldog Investors LLP lifted its position in shares of Norwood Financial by 165.0% during the 1st quarter. Bulldog Investors LLP now owns 170,000 shares of the financial services provider’s stock worth $5,001,000 after purchasing an additional 105,855 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of Norwood Financial during the 4th quarter worth $1,567,000. Marshall Wace LLP acquired a new stake in Norwood Financial during the 2nd quarter worth $648,000. Finally, Citadel Advisors LLC acquired a new stake in Norwood Financial during the 3rd quarter worth $605,000. Hedge funds and other institutional investors own 28.08% of the company’s stock.

About Norwood Financial

Norwood Financial Corp. operates as the bank holding company for Wayne Bank that provides various banking products and services. The company accepts a range of deposit products, including interest-bearing and non-interest-bearing transaction accounts, and statement savings and money market accounts, as well as certificate of deposits. It also provides commercial loans comprising lines of credit, revolving credit, term loans, mortgages, secured lending products, and letter of credit facilities; municipal finance lending; construction loans for commercial construction projects and single-family residences; land loans; construction financing; consumer loans; mortgage lending to finance principal residences and second home dwellings; and indirect dealer financing of new and used automobiles, boats, and recreational vehicles.