Norwood Financial Corp. (NASDAQ:NWFL) Sees Significant Growth in Short Interest

Norwood Financial Corp. (NASDAQ:NWFL) was the recipient of a significant growth in short interest in March. As of March 13th, there was short interest totaling 103,904 shares, a growth of 31.0% from the February 26th total of 79,346 shares. Based on an average daily trading volume, of 22,491 shares, the days-to-cover ratio is presently 4.6 days. Currently, 1.0% of the company’s stock are sold short.

Analyst Ratings Changes

A number of research firms recently issued reports on NWFL. Weiss Ratings upgraded Norwood Financial from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, March 16th. Wall Street Zen upgraded shares of Norwood Financial from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Zacks Research cut shares of Norwood Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 22nd. Finally, Stephens set a $33.00 target price on shares of Norwood Financial and gave the company an “equal weight” rating in a research report on Wednesday, February 11th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $33.00.

Insider Buying and Selling

In other Norwood Financial news, Director Joseph W. Carroll acquired 4,000 shares of the firm’s stock in a transaction on Wednesday, January 28th. The stock was purchased at an average price of $28.13 per share, with a total value of $112,520.00. Following the completion of the acquisition, the director directly owned 41,503 shares in the company, valued at $1,167,479.39. This trade represents a 10.67% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director James Shook bought 3,500 shares of the stock in a transaction on Wednesday, January 28th. The shares were acquired at an average price of $28.80 per share, with a total value of $100,800.00. Following the purchase, the director owned 8,330 shares of the company’s stock, valued at $239,904. The trade was a 72.46% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have acquired 9,700 shares of company stock worth $274,770. 8.20% of the stock is currently owned by company insiders.

Institutional Trading of Norwood Financial

Hedge funds have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co increased its stake in shares of Norwood Financial by 75.3% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 880 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 378 shares during the last quarter. Osaic Holdings Inc. increased its position in 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 buying an additional 601 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Norwood Financial by 293.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,771 shares of the financial services provider’s stock worth $46,000 after buying an additional 1,321 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Norwood Financial by 144.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,100 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 1,241 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Norwood Financial by 68.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,138 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 872 shares during the last quarter. 28.08% of the stock is owned by hedge funds and other institutional investors.

Norwood Financial Trading Down 0.5%

NWFL stock traded down $0.16 during mid-day trading on Friday, reaching $28.98. 10,322 shares of the stock traded hands, compared to its average volume of 24,799. Norwood Financial has a 52-week low of $21.25 and a 52-week high of $32.23. The stock’s fifty day moving average is $29.67 and its 200-day moving average is $28.10. The company has a market cap of $315.59 million, a P/E ratio of 9.69 and a beta of 0.60. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.25.

Norwood Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Wednesday, April 15th. Norwood Financial’s dividend payout ratio (DPR) is 42.81%.

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. 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.