Finward Bancorp (NASDAQ:FNWD) to Issue $0.12 Quarterly Dividend

Finward Bancorp (NASDAQ:FNWD) announced a quarterly dividend on Friday, September 20th, Wall Street Journal reports. Investors of record on Friday, October 18th will be paid a dividend of 0.12 per share on Thursday, October 31st. This represents a $0.48 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Friday, October 18th.

Finward Bancorp has decreased its dividend payment by an average of 9.1% annually over the last three years. Finward Bancorp has a payout ratio of 46.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Finward Bancorp to earn $0.70 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 68.6%.

Finward Bancorp Price Performance

Shares of NASDAQ:FNWD opened at $31.25 on Thursday. Finward Bancorp has a 1-year low of $17.29 and a 1-year high of $33.05. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.57. The stock has a market cap of $134.69 million, a PE ratio of 8.68 and a beta of 0.53. The stock’s fifty day simple moving average is $29.14 and its two-hundred day simple moving average is $26.53.

Finward Bancorp (NASDAQ:FNWD) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.12. Finward Bancorp had a net margin of 12.00% and a return on equity of 9.26%. The business had revenue of $24.70 million for the quarter. As a group, analysts forecast that Finward Bancorp will post 0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Hovde Group upgraded Finward Bancorp from a “market perform” rating to an “outperform” rating and set a $31.00 price target on the stock in a report on Friday, September 6th.

Finward Bancorp Company Profile

Finward Bancorp operates as the holding company for Peoples Bank that provides various banking products and services. The company's deposit products include non-interest- and interest-bearing demand accounts, savings accounts, money market deposit accounts, certificate accounts, and retirement savings plans.