Norwood Financial Corp. (NASDAQ:NWFL) Short Interest Up 26.3% in May

Norwood Financial Corp. (NASDAQ:NWFL) was the target of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 82,100 shares, a growth of 26.3% from the April 30th total of 65,000 shares. Based on an average daily trading volume, of 23,100 shares, the days-to-cover ratio is currently 3.6 days. Currently, 1.1% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wall Street Zen raised Norwood Financial from a “sell” rating to a “hold” rating in a research report on Saturday, May 10th. Stephens reissued an “equal weight” rating and issued a $25.50 target price on shares of Norwood Financial in a research report on Monday, April 21st.

Norwood Financial Price Performance

Shares of NASDAQ NWFL opened at $25.41 on Thursday. The stock has a market cap of $235.30 million, a PE ratio of 2,541.00 and a beta of 0.69. Norwood Financial has a fifty-two week low of $21.25 and a fifty-two week high of $34.50. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a fifty day moving average of $24.69 and a 200-day moving average of $26.15.

Norwood Financial (NASDAQ:NWFL) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. The company had revenue of $20.20 million during 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%. Equities research analysts anticipate that Norwood Financial will post 2.51 earnings per share for the current year.

Norwood Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 4.88%. The ex-dividend date of this dividend was Tuesday, April 15th. Norwood Financial’s dividend payout ratio (DPR) is presently 1,377.78%.

Hedge Funds Weigh In On Norwood Financial

Several hedge funds have recently made changes to their positions in NWFL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Norwood Financial by 18.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,909 shares of the financial services provider’s stock worth $119,000 after buying an additional 765 shares in the last quarter. Corebridge Financial Inc. grew its position in Norwood Financial by 13.0% during the first quarter. Corebridge Financial Inc. now owns 4,079 shares of the financial services provider’s stock worth $99,000 after buying an additional 468 shares in the last quarter. Wellington Management Group LLP grew its position in Norwood Financial by 2.1% during the first quarter. Wellington Management Group LLP now owns 630,867 shares of the financial services provider’s stock worth $15,248,000 after buying an additional 12,815 shares in the last quarter. Nuveen LLC purchased a new position in Norwood Financial during the first quarter worth about $319,000. Finally, Charles Schwab Investment Management Inc. grew its position in Norwood Financial by 12.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 23,165 shares of the financial services provider’s stock worth $560,000 after buying an additional 2,628 shares in the last quarter. 28.08% of the stock is currently owned by hedge funds and other institutional investors.

Norwood Financial Company 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.