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

Janney Montgomery Scott initiated coverage on shares of Norwood Financial (NASDAQ:NWFL) in a research note issued to investors on Thursday morning, MarketBeat reports. The firm issued a buy rating and a $31.00 price objective on the financial services provider’s stock.

Norwood Financial Stock Performance

NWFL stock opened at $26.55 on Thursday. The company has a market cap of $214.84 million, a P/E ratio of 16.70 and a beta of 0.61. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.91 and a quick ratio of 0.91. Norwood Financial has a 1 year low of $23.50 and a 1 year high of $34.50. The stock’s fifty day moving average price is $29.50 and its 200-day moving average price is $27.71.

Norwood Financial Increases Dividend

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

Insider Buying and Selling

In related news, Director Ronald R. Schmalzle bought 7,692 shares of the firm’s stock in a transaction that occurred 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 acquisition, the director now owns 15,510 shares in the company, valued at $403,260. This trade represents a 98.39 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.10% of the stock is currently owned by insiders.

Institutional Trading of Norwood Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of NWFL. Bank of New York Mellon Corp increased its holdings in Norwood Financial by 9.1% in the 2nd 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 in the last quarter. Cetera Investment Advisers lifted its stake in shares of 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 in the last quarter. Code Waechter LLC bought a new position in Norwood Financial in the 3rd quarter worth $815,000. Signature Estate & Investment Advisors LLC purchased a new stake in Norwood Financial in the 3rd quarter worth $200,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Norwood Financial by 3.0% during 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 acquiring an additional 600 shares during the period. Hedge funds and other institutional investors own 28.08% of the company’s stock.

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.