Raymond James Financial Services Advisors Inc. trimmed its holdings in Norwood Financial Corp. (NASDAQ:NWFL – Get Rating) by 2.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,541 shares of the financial services provider’s stock after selling 717 shares during the period. Raymond James Financial Services Advisors Inc. owned 0.32% of Norwood Financial worth $705,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NWFL. Zullo Investment Group Inc. purchased a new stake in Norwood Financial in the second quarter valued at approximately $36,000. Dimensional Fund Advisors LP grew its stake in shares of Norwood Financial by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 94,111 shares of the financial services provider’s stock valued at $2,691,000 after buying an additional 902 shares during the period. Morgan Dempsey Capital Management LLC acquired a new stake in shares of Norwood Financial during the 1st quarter worth $1,358,000. State Street Corp raised its position in shares of Norwood Financial by 13.0% in the 1st quarter. State Street Corp now owns 22,437 shares of the financial services provider’s stock worth $641,000 after buying an additional 2,582 shares during the period. Finally, Cetera Advisor Networks LLC boosted its holdings in Norwood Financial by 14.8% in the first quarter. Cetera Advisor Networks LLC now owns 13,942 shares of the financial services provider’s stock valued at $399,000 after acquiring an additional 1,795 shares during the last quarter. Hedge funds and other institutional investors own 16.87% of the company’s stock.
Norwood Financial Stock Down 0.5 %
Shares of NWFL stock opened at $34.42 on Tuesday. Norwood Financial Corp. has a fifty-two week low of $23.00 and a fifty-two week high of $34.75. The firm’s 50 day moving average price is $32.93 and its two-hundred day moving average price is $28.76. The stock has a market cap of $280.08 million, a price-to-earnings ratio of 9.78 and a beta of 0.45.
Norwood Financial Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Friday, January 13th will be paid a $0.29 dividend. The ex-dividend date is Thursday, January 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.37%. This is a positive change from Norwood Financial’s previous quarterly dividend of $0.28. Norwood Financial’s dividend payout ratio (DPR) is 32.95%.
Insider Activity at Norwood Financial
In other Norwood Financial news, EVP John F. Carmody sold 2,475 shares of the stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $34.07, for a total value of $84,323.25. Following the completion of the sale, the executive vice president now owns 7,064 shares of the company’s stock, valued at $240,670.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP John F. Carmody sold 2,250 shares of the firm’s stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $33.00, for a total transaction of $74,250.00. Following the completion of the sale, the executive vice president now directly owns 7,064 shares in the company, valued at $233,112. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John F. Carmody sold 2,475 shares of the business’s stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $34.07, for a total value of $84,323.25. Following the completion of the transaction, the executive vice president now owns 7,064 shares in the company, valued at approximately $240,670.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,550 shares of company stock worth $185,972. 9.70% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Separately, StockNews.com downgraded Norwood Financial from a “buy” rating to a “hold” rating in a report on Friday, January 6th.
Norwood Financial Profile
Norwood Financial Corp. is a bank holding company, which offers financial services and traditional banking to individual, business and government customers. It offers debit cards, savings accounts, personal loans, credit card, business lending, and wealth management. The company was founded in 1870 and is headquartered in Honesdale, PA.
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