Norwood Financial (NASDAQ:NWFL) Cut to “Hold” at Zacks Research

Zacks Research cut shares of Norwood Financial (NASDAQ:NWFL) from a strong-buy rating to a hold rating in a research note released on Monday,Zacks.com reports.

A number of other analysts have also issued reports on NWFL. Stephens reiterated an “equal weight” rating and issued a $26.50 price target on shares of Norwood Financial in a report on Tuesday, July 8th. Wall Street Zen raised shares of Norwood Financial from a “hold” rating to a “buy” rating in a research note on Sunday, August 10th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $28.50.

Norwood Financial Stock Down 0.9%

Shares of NASDAQ NWFL opened at $26.41 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market capitalization of $244.56 million, a price-to-earnings ratio of 110.05 and a beta of 0.71. The stock has a 50 day moving average price of $25.35 and a 200 day moving average price of $25.11. Norwood Financial has a 52-week low of $21.25 and a 52-week high of $34.50.

Norwood Financial (NASDAQ:NWFL) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.03. The firm had revenue of $21.20 million during the quarter, compared to analyst estimates of $21.16 million. Norwood Financial had a return on equity of 8.86% and a net margin of 2.92%. Sell-side analysts expect that Norwood Financial will post 2.51 earnings per share for the current year.

Norwood Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 15th were paid a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $1.24 dividend on an annualized basis and a yield of 4.7%. Norwood Financial’s payout ratio is 516.67%.

Hedge Funds Weigh In On Norwood Financial

A number of large investors have recently made changes to their positions in the business. Osaic Holdings Inc. increased its position in shares of Norwood Financial by 130.7% during the second quarter. Osaic Holdings Inc. now owns 1,061 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 601 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Norwood Financial by 293.6% during the second quarter. Tower Research Capital LLC TRC now owns 1,771 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 1,321 shares in the last quarter. Raymond James Financial Inc. increased its position in shares of Norwood Financial by 20.8% during the second quarter. Raymond James Financial Inc. now owns 89,419 shares of the financial services provider’s stock worth $2,305,000 after purchasing an additional 15,408 shares in the last quarter. Fourthstone LLC acquired a new position in shares of Norwood Financial during the second quarter worth $510,000. Finally, Marshall Wace LLP acquired a new position in shares of Norwood Financial during the second quarter worth $648,000. 28.08% of the stock is owned by institutional investors and hedge funds.

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.