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

Piper Sandler assumed coverage on shares of Norwood Financial (NASDAQ:NWFL) in a research report issued on Wednesday, MarketBeat.com reports. The firm set a “neutral” rating and a $28.00 price target on the financial services provider’s stock. Piper Sandler’s price objective points to a potential upside of 6.30% from the stock’s current price.

Separately, Janney Montgomery Scott started coverage on Norwood Financial in a report on Thursday, January 2nd. They issued a “buy” rating and a $31.00 price objective for the company.

Norwood Financial Stock Performance

NASDAQ:NWFL opened at $26.34 on Wednesday. The firm has a market cap of $213.14 million, a PE ratio of 16.57 and a beta of 0.62. Norwood Financial has a fifty-two week low of $23.50 and a fifty-two week high of $34.50. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.91 and a current ratio of 0.91. The business has a 50 day moving average price of $29.36 and a 200-day moving average price of $27.76.

Insider Buying and Selling at Norwood Financial

In other Norwood Financial news, Director Ronald R. Schmalzle acquired 7,692 shares of Norwood Financial stock in a transaction that occurred on Thursday, December 19th. The stock was bought at an average price 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 approximately $403,260. This represents a 98.39 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Norwood Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. Signature Estate & Investment Advisors LLC acquired a new position in Norwood Financial in the 3rd quarter worth approximately $200,000. Barclays PLC boosted its stake in shares of Norwood Financial by 280.5% in the third 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 during the last quarter. JPMorgan Chase & Co. lifted its stake in 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 purchasing an additional 9,950 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Norwood Financial by 3.0% during the 3rd 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 last quarter. Finally, Bank of New York Mellon Corp increased its stake in Norwood Financial by 9.1% during the second 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 during the last quarter. 28.08% of the stock is owned by hedge funds and other 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.