The Manufacturers Life Insurance Company Takes Position in Norwood Financial Corp. $NWFL

The Manufacturers Life Insurance Company purchased a new position in shares of Norwood Financial Corp. (NASDAQ:NWFL) in the second quarter, HoldingsChannel reports. The firm purchased 174,278 shares of the financial services provider’s stock, valued at approximately $5,603,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. CANADA LIFE ASSURANCE Co raised its holdings in Norwood Financial by 75.3% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 880 shares of the financial services provider’s stock valued at $25,000 after buying an additional 378 shares during the period. Osaic Holdings Inc. boosted its stake in Norwood Financial by 130.7% during the second quarter. Osaic Holdings Inc. now owns 1,061 shares of the financial services provider’s stock worth $27,000 after buying an additional 601 shares during the period. Tower Research Capital LLC TRC boosted its stake in Norwood Financial by 293.6% during the second quarter. Tower Research Capital LLC TRC now owns 1,771 shares of the financial services provider’s stock worth $46,000 after buying an additional 1,321 shares during the period. BNP Paribas Financial Markets increased its position in shares of Norwood Financial by 144.5% during the third quarter. BNP Paribas Financial Markets now owns 2,100 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 1,241 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Norwood Financial by 68.9% during the third quarter. Russell Investments Group Ltd. now owns 2,138 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 872 shares during the last quarter. 28.08% of the stock is owned by institutional investors and hedge funds.

Norwood Financial Trading Up 0.0%

Shares of NWFL stock opened at $34.16 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $372.34 million, a P/E ratio of 11.78 and a beta of 0.54. The company has a 50 day moving average price of $32.85 and a 200 day moving average price of $31.08. Norwood Financial Corp. has a fifty-two week low of $23.82 and a fifty-two week high of $35.45.

Norwood Financial (NASDAQ:NWFL) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.01). The business had revenue of $29.37 million for the quarter, compared to analysts’ expectations of $28.10 million. Norwood Financial had a return on equity of 12.88% and a net margin of 18.68%. Equities research analysts predict that Norwood Financial Corp. will post 3.47 EPS for the current fiscal year.

Norwood Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Wednesday, July 15th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.7%. Norwood Financial’s dividend payout ratio is currently 44.14%.

Insider Buying and Selling at Norwood Financial

In related news, Director James Shook acquired 3,100 shares of Norwood Financial stock in a transaction dated Tuesday, July 28th. The shares were acquired at an average cost of $34.55 per share, for a total transaction of $107,105.00. Following the completion of the purchase, the director owned 12,586 shares in the company, valued at approximately $434,846.30. The trade was a 32.68% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NWFL. Wall Street Zen lowered shares of Norwood Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Stephens reiterated a “mixed” rating and issued a $35.00 target price (up from $34.00) on shares of Norwood Financial in a report on Thursday, July 23rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Norwood Financial in a research report on Friday, July 24th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $35.00.

Norwood Financial Company Profile

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. It also provides commercial loans comprising lines of credit, revolving credit, term loans, mortgages, secured lending products, and letter of credit facilities; municipal finance lending; construction loans for commercial construction projects and single-family residences; land loans; construction financing; consumer loans; mortgage lending to finance principal residences and second home dwellings; and indirect dealer financing of new and used automobiles, boats, and recreational vehicles.