Finward Bancorp (NASDAQ:FNWD) Lowered to "Market Perform" Rating by Hovde Group

Hovde Group lowered shares of Finward Bancorp (NASDAQ:FNWD - Free Report) from an outperform rating to a market perform rating in a research note published on Monday morning, MarketBeat.com reports.

Finward Bancorp Stock Performance

Shares of Finward Bancorp stock traded up $0.26 during trading on Monday, hitting $28.94. 4,006 shares of the company's stock were exchanged, compared to its average volume of 4,004. Finward Bancorp has a 52-week low of $23.50 and a 52-week high of $33.50. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $124.85 million, a price-to-earnings ratio of 10.23 and a beta of 0.53. The business has a 50-day simple moving average of $27.15 and a 200-day simple moving average of $29.27.

Finward Bancorp (NASDAQ:FNWD - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.31. Finward Bancorp had a return on equity of 7.91% and a net margin of 10.85%. On average, research analysts forecast that Finward Bancorp will post 0.9 EPS for the current year.

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Insiders Place Their Bets

In other news, Director Carolyn M. Burke acquired 1,000 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was acquired at an average price of $26.80 per share, for a total transaction of $26,800.00. Following the completion of the transaction, the director now owns 1,000 shares in the company, valued at approximately $26,800. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert W. Youman bought 1,400 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $27.76 per share, for a total transaction of $38,864.00. Following the completion of the transaction, the director now directly owns 22,773 shares in the company, valued at approximately $632,178.48. This trade represents a 6.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 6,472 shares of company stock worth $174,563. Corporate insiders own 13.70% of the company's stock.

Hedge Funds Weigh In On Finward Bancorp

A number of hedge funds have recently bought and sold shares of the business. PL Capital Advisors LLC raised its stake in shares of Finward Bancorp by 2,718.1% during the 4th quarter. PL Capital Advisors LLC now owns 9,999,177 shares of the company's stock worth $281,077,000 after buying an additional 9,644,355 shares during the period. Alliancebernstein L.P. increased its holdings in Finward Bancorp by 10.6% in the 4th quarter. Alliancebernstein L.P. now owns 344,926 shares of the company's stock worth $9,696,000 after acquiring an additional 33,036 shares in the last quarter. Finward Bancorp acquired a new position in Finward Bancorp during the fourth quarter worth $4,175,000. Geode Capital Management LLC lifted its holdings in Finward Bancorp by 7.9% during the third quarter. Geode Capital Management LLC now owns 38,662 shares of the company's stock valued at $1,237,000 after purchasing an additional 2,825 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Finward Bancorp by 8.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 17,641 shares of the company's stock valued at $496,000 after purchasing an additional 1,393 shares during the period. Hedge funds and other institutional investors own 26.59% of the company's stock.

Finward Bancorp Company Profile

Finward Bancorp operates as the holding company for Peoples Bank that provides various banking products and services. The company's deposit products include non-interest- and interest-bearing demand accounts, savings accounts, money market deposit accounts, certificate accounts, and retirement savings plans.