Finward Bancorp (NASDAQ:FNWD) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Finward Bancorp (NASDAQ:FNWD) announced its earnings results on Tuesday. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.02), FiscalAI reports. The business had revenue of $17.49 million for the quarter, compared to analysts’ expectations of $18.45 million. Finward Bancorp had a net margin of 8.00% and a return on equity of 5.01%.

Finward Bancorp Trading Down 1.5%

Finward Bancorp stock traded down $0.50 during midday trading on Tuesday, reaching $33.03. The stock had a trading volume of 6,769 shares, compared to its average volume of 10,447. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.26. Finward Bancorp has a 52-week low of $26.46 and a 52-week high of $39.99. The firm has a market cap of $143.02 million, a price-to-earnings ratio of 17.57 and a beta of 0.32. The company has a fifty day moving average of $35.96 and a 200 day moving average of $35.95.

Finward Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 16th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Monday, March 16th. Finward Bancorp’s dividend payout ratio is 25.53%.

Institutional Trading of Finward Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in Finward Bancorp by 40.4% in the 4th quarter. AQR Capital Management LLC now owns 15,353 shares of the company’s stock worth $540,000 after purchasing an additional 4,420 shares during the period. Trexquant Investment LP purchased a new stake in Finward Bancorp in the 4th quarter worth about $360,000. Marshall Wace LLP purchased a new stake in Finward Bancorp in the 4th quarter worth about $280,000. Barclays PLC raised its position in Finward Bancorp by 11.1% in the 4th quarter. Barclays PLC now owns 5,403 shares of the company’s stock worth $190,000 after purchasing an additional 541 shares during the period. Finally, Wells Fargo & Company MN grew its stake in Finward Bancorp by 46.2% in the 4th quarter. Wells Fargo & Company MN now owns 3,847 shares of the company’s stock worth $135,000 after acquiring an additional 1,216 shares in the last quarter. 26.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Stephens started coverage on shares of Finward Bancorp in a research report on Friday, March 27th. They set an “overweight” rating and a $41.00 target price on the stock. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

About Finward Bancorp

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.