Piper Sandler Begins Coverage on Norwood Financial (NASDAQ:NWFL)

Research analysts at Piper Sandler started coverage on shares of Norwood Financial (NASDAQ:NWFL) in a research report issued on Wednesday,Benzinga reports. The brokerage set a “neutral” rating and a $28.00 price target on the financial services provider’s stock. Piper Sandler’s price target would suggest a potential upside of 7.73% from the company’s current price.

Separately, Janney Montgomery Scott initiated coverage on Norwood Financial in a research note on Thursday, January 2nd. They issued a “buy” rating and a $31.00 price target on the stock.

Norwood Financial Price Performance

Shares of Norwood Financial stock opened at $25.99 on Wednesday. The company has a market cap of $210.31 million, a PE ratio of 16.35 and a beta of 0.62. The business has a 50 day moving average of $29.41 and a 200 day moving average of $27.77. Norwood Financial has a 52 week low of $23.50 and a 52 week high of $34.50. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.74.

Insider Activity at Norwood Financial

In related news, Director Ronald R. Schmalzle acquired 7,692 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were bought at an average price of $26.00 per share, for a total transaction of $199,992.00. Following the completion of the transaction, the director now directly owns 15,510 shares in the company, valued at approximately $403,260. This trade represents a 98.39 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Norwood Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position 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 purchasing an additional 600 shares in the last quarter. State Street Corp lifted its position in shares of Norwood Financial by 2.5% during the 3rd quarter. State Street Corp now owns 99,889 shares of the financial services provider’s stock valued at $2,755,000 after buying an additional 2,402 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Norwood Financial by 9.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 30,657 shares of the financial services provider’s stock valued at $778,000 after acquiring an additional 2,563 shares during the period. Barclays PLC increased its holdings in Norwood Financial by 280.5% in the 3rd quarter. Barclays PLC now owns 9,787 shares of the financial services provider’s stock worth $270,000 after acquiring an additional 7,215 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC bought a new stake in Norwood Financial during the 3rd quarter worth approximately $200,000. 28.08% of the stock is owned by institutional investors.

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.