Finward Bancorp (NASDAQ:FNWD) Releases Quarterly Earnings Results, Misses Expectations By $0.14 EPS

Finward Bancorp (NASDAQ:FNWD) released its quarterly earnings results on Tuesday. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.14), Zacks reports. The company had revenue of $17.58 million during the quarter, compared to analyst estimates of $18.90 million. Finward Bancorp had a net margin of 9.72% and a return on equity of 5.92%.

Finward Bancorp Stock Up 0.5%

Shares of NASDAQ:FNWD traded up $0.21 during trading on Wednesday, reaching $44.59. 6,454 shares of the company traded hands, compared to its average volume of 15,305. The firm has a fifty day simple moving average of $35.47 and a 200 day simple moving average of $35.56. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.29. Finward Bancorp has a 1-year low of $27.12 and a 1-year high of $45.00. The firm has a market cap of $193.08 million, a P/E ratio of 19.50 and a beta of 0.18.

Finward Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Wednesday, June 17th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.1%. Finward Bancorp’s dividend payout ratio (DPR) is 20.96%.

Institutional Trading of Finward Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of FNWD. BNP Paribas Financial Markets raised its stake in shares of Finward Bancorp by 98.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,291 shares of the company’s stock valued at $41,000 after acquiring an additional 642 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Finward Bancorp during the third quarter worth approximately $43,000. JPMorgan Chase & Co. bought a new stake in Finward Bancorp during the second quarter worth approximately $45,000. Bank of America Corp DE grew its holdings in Finward Bancorp by 5,428.1% during the second quarter. Bank of America Corp DE now owns 1,769 shares of the company’s stock valued at $49,000 after purchasing an additional 1,737 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Finward Bancorp in the second quarter valued at approximately $52,000. 26.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on FNWD. Zacks Research raised shares of Finward Bancorp to a “hold” rating in a research note on Monday, July 13th. Weiss Ratings upgraded shares of Finward Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Finward Bancorp Company Profile

Finward Bancorp (NASDAQ: FNWD) is the bank holding company for Finward Bank, a community-focused financial institution serving businesses and individuals across Pennsylvania and Delaware. Through a network of full-service branches and a robust digital banking platform, Finward Bank delivers a range of personal and commercial banking solutions designed to meet the needs of local customers.

The company’s core offerings include deposit products such as checking accounts, savings accounts and time deposits, as well as a variety of lending solutions.