Norwood Financial (NASDAQ:NWFL) Now Covered by Janney Montgomery Scott

Janney Montgomery Scott started coverage on shares of Norwood Financial (NASDAQ:NWFL) in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $31.00 target price on the financial services provider’s stock.

Norwood Financial Stock Down 2.4 %

NWFL opened at $26.55 on Thursday. The company has a market capitalization of $214.84 million, a PE ratio of 16.70 and a beta of 0.61. The firm has a 50-day simple moving average of $29.50 and a two-hundred day simple moving average of $27.71. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.74. Norwood Financial has a 52 week low of $23.50 and a 52 week high of $34.50.

Norwood Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 4.67%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from Norwood Financial’s previous quarterly dividend of $0.30. Norwood Financial’s payout ratio is currently 77.99%.

Insider Activity at Norwood Financial

In related news, Director Ronald R. Schmalzle acquired 7,692 shares of Norwood Financial stock in a transaction on Thursday, December 19th. The shares were bought at an average cost of $26.00 per share, with a total value of $199,992.00. Following the completion of the purchase, the director now directly owns 15,510 shares of the company’s stock, valued at $403,260. The trade was a 98.39 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 9.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Norwood Financial

Institutional investors have recently modified their holdings of the stock. Cetera Investment Advisers raised its holdings 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 buying an additional 61,247 shares during the period. Code Waechter LLC bought a new position in Norwood Financial during the third quarter valued at $815,000. JPMorgan Chase & Co. lifted its holdings in shares of Norwood Financial by 250.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,922 shares of the financial services provider’s stock worth $384,000 after acquiring an additional 9,950 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in shares of Norwood Financial during the 3rd quarter worth about $200,000. Finally, Barclays PLC grew its holdings in Norwood Financial by 280.5% during the 3rd quarter. Barclays PLC now owns 9,787 shares of the financial services provider’s stock valued at $270,000 after purchasing an additional 7,215 shares during the last quarter. 28.08% of the stock is owned by institutional investors.

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.