Raymond James Financial Inc. Purchases Shares of 51,247 Norwood Financial Corp. (NASDAQ:NWFL)

Raymond James Financial Inc. acquired a new position in Norwood Financial Corp. (NASDAQ:NWFL) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 51,247 shares of the financial services provider’s stock, valued at approximately $1,394,000. Raymond James Financial Inc. owned about 0.63% of Norwood Financial at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Wellington Management Group LLP acquired a new position in Norwood Financial during the 4th quarter worth $16,814,000. Alliancebernstein L.P. acquired a new position in Norwood Financial during the 4th quarter valued at $2,092,000. JPMorgan Chase & Co. boosted its holdings in Norwood Financial by 89.0% in the 4th quarter. JPMorgan Chase & Co. now owns 26,314 shares of the financial services provider’s stock valued at $716,000 after purchasing an additional 12,392 shares during the period. Barclays PLC increased its holdings in shares of Norwood Financial by 280.5% during the 3rd quarter. Barclays PLC now owns 9,787 shares of the financial services provider’s stock worth $270,000 after purchasing an additional 7,215 shares during the period. Finally, Emerald Advisers LLC acquired a new position in shares of Norwood Financial during the fourth quarter valued at about $122,000. 28.08% of the stock is owned by institutional investors.

Norwood Financial Stock Performance

NWFL stock opened at $26.90 on Friday. The stock has a market capitalization of $249.17 million, a PE ratio of 2,690.00 and a beta of 0.54. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.91 and a quick ratio of 0.91. The company has a 50 day moving average price of $24.25 and a 200 day moving average price of $26.70. Norwood Financial Corp. has a fifty-two week low of $21.25 and a fifty-two week high of $34.50.

Norwood Financial (NASDAQ:NWFL) last posted its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. The business had revenue of $20.20 million for the quarter, compared to analysts’ expectations of $20.60 million. Norwood Financial had a positive return on equity of 8.38% and a negative net margin of 0.16%. Analysts forecast that Norwood Financial Corp. will post 2.51 EPS for the current year.

Norwood Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 15th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date of this dividend was Tuesday, April 15th. Norwood Financial’s dividend payout ratio (DPR) is 1,377.78%.

Insider Activity at Norwood Financial

In related news, Director Ronald R. Schmalzle bought 2,563 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was bought at an average cost of $26.43 per share, for a total transaction of $67,740.09. Following the transaction, the director now owns 15,168 shares of the company’s stock, valued at $400,890.24. This represents a 20.33 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have acquired 3,648 shares of company stock worth $94,553 over the last ninety days. Company insiders own 9.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Piper Sandler assumed coverage on Norwood Financial in a research note on Wednesday, January 8th. They set a “neutral” rating and a $28.00 price target on the stock. Stephens restated an “equal weight” rating and set a $25.50 price target on shares of Norwood Financial in a research note on Monday, April 21st. Finally, StockNews.com upgraded shares of Norwood Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, April 29th.

Norwood Financial Profile

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.