Norwood Financial Corp. (NASDAQ:NWFL) Stake Cut by Code Waechter LLC

Code Waechter LLC decreased its holdings in shares of Norwood Financial Corp. (NASDAQ:NWFL) by 5.7% in the 4th quarter, Holdings Channel reports. The firm owned 27,864 shares of the financial services provider’s stock after selling 1,672 shares during the quarter. Code Waechter LLC’s holdings in Norwood Financial were worth $758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in shares of Norwood Financial by 9.1% during the second quarter. Bank of New York Mellon Corp now owns 30,657 shares of the financial services provider’s stock worth $778,000 after acquiring an additional 2,563 shares during the last quarter. Cetera Investment Advisers boosted its stake in Norwood Financial by 258.7% during the 2nd quarter. Cetera Investment Advisers now owns 84,919 shares of the financial services provider’s stock valued at $2,155,000 after purchasing an additional 61,247 shares during the period. Signature Estate & Investment Advisors LLC bought a new position in Norwood Financial in the 3rd quarter worth about $200,000. Charles Schwab Investment Management Inc. increased its stake in shares of Norwood Financial by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 20,537 shares of the financial services provider’s stock valued at $566,000 after purchasing an additional 600 shares during the period. Finally, State Street Corp raised its holdings in shares of Norwood Financial by 2.5% during the third quarter. State Street Corp now owns 99,889 shares of the financial services provider’s stock valued at $2,755,000 after buying an additional 2,402 shares during the last quarter. 28.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NWFL. Piper Sandler initiated coverage on Norwood Financial in a report on Wednesday, January 8th. They issued a “neutral” rating and a $28.00 price objective for the company. Janney Montgomery Scott started coverage on Norwood Financial in a research note on Thursday, January 2nd. They issued a “buy” rating and a $31.00 price target for the company.

Norwood Financial Trading Up 3.1 %

Shares of NASDAQ:NWFL opened at $26.20 on Tuesday. The company has a 50 day moving average of $29.22 and a 200-day moving average of $27.80. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.74. The firm has a market cap of $212.01 million, a P/E ratio of 16.48 and a beta of 0.62. Norwood Financial Corp. has a twelve month low of $23.50 and a twelve month high of $34.50.

Norwood Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Wednesday, January 15th will be paid a dividend of $0.31 per share. This is a positive change from Norwood Financial’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date is Wednesday, January 15th. Norwood Financial’s dividend payout ratio (DPR) is presently 77.99%.

Insider Activity

In related news, Director Ronald R. Schmalzle acquired 7,692 shares of the business’s stock in a transaction dated Thursday, December 19th. The stock was bought at an average price of $26.00 per share, for a total transaction of $199,992.00. Following the transaction, the director now owns 15,510 shares of the company’s stock, valued at approximately $403,260. The trade was a 98.39 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.10% of the stock is owned by insiders.

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.