Finward Bancorp (NASDAQ:FNWD) Shares Down 0.1% – Here’s What Happened

Finward Bancorp (NASDAQ:FNWD)’s share price traded down 0.1% during mid-day trading on Monday . The stock traded as low as $43.45 and last traded at $43.45. Approximately 5,837 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 15,836 shares. The stock had previously closed at $43.50.

Analysts Set New Price Targets

FNWD has been the topic of several research analyst reports. Zacks Research upgraded shares of Finward Bancorp to a “hold” rating in a research note on Monday, July 13th. Weiss Ratings raised Finward Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 19th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $41.00.

Finward Bancorp Stock Performance

The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.36. The firm has a 50-day simple moving average of $39.86 and a 200 day simple moving average of $36.67. The company has a market cap of $188.14 million, a price-to-earnings ratio of 19.14 and a beta of 0.16.

Finward Bancorp (NASDAQ:FNWD) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.14). The firm had revenue of $17.58 million during the quarter, compared to analyst estimates of $18.90 million. Finward Bancorp had a net margin of 9.65% and a return on equity of 5.68%. On average, sell-side analysts predict that Finward Bancorp will post 2.63 earnings per share for the current fiscal year.

Finward Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Wednesday, June 17th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, June 17th. This represents a $0.48 dividend on an annualized basis and a yield of 1.1%. Finward Bancorp’s dividend payout ratio is currently 21.15%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in shares of Finward Bancorp by 99.7% in the second quarter. Geode Capital Management LLC now owns 81,669 shares of the company’s stock valued at $2,256,000 after buying an additional 40,778 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Finward Bancorp during the second quarter worth about $45,000. New York State Common Retirement Fund purchased a new position in shares of Finward Bancorp during the second quarter worth about $102,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Finward Bancorp in the 2nd quarter valued at about $52,000. Finally, Bank of America Corp DE increased its position in Finward Bancorp by 5,428.1% in the 2nd quarter. Bank of America Corp DE now owns 1,769 shares of the company’s stock valued at $49,000 after acquiring an additional 1,737 shares during the period. 26.59% of the stock is currently owned by institutional investors and hedge funds.

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.