Norwood Financial (NASDAQ:NWFL) Coverage Initiated at Janney Montgomery Scott

Equities researchers at Janney Montgomery Scott initiated coverage on shares of Norwood Financial (NASDAQ:NWFL - Get Free Report) in a research report issued on Thursday, MarketBeat reports. The firm set a "buy" rating and a $31.00 price target on the financial services provider's stock. Janney Montgomery Scott's price objective indicates a potential upside of 16.76% from the stock's current price.

Norwood Financial Trading Down 2.4 %

Shares of NWFL traded down $0.65 during mid-day trading on Thursday, reaching $26.55. The stock had a trading volume of 9,028 shares, compared to its average volume of 11,303. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.91 and a quick ratio of 0.91. The business's fifty day moving average is $29.53 and its 200 day moving average is $27.71. Norwood Financial has a 52-week low of $23.50 and a 52-week high of $34.50. The firm has a market cap of $214.84 million, a price-to-earnings ratio of 16.70 and a beta of 0.61.

Insider Transactions at Norwood Financial

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 stock was purchased at an average cost of $26.00 per share, for a total transaction of $199,992.00. Following the completion of the acquisition, the director now owns 15,510 shares in the company, valued at approximately $403,260. This trade represents a 98.39 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 9.10% of the company's stock.

Institutional Investors Weigh In On Norwood Financial

A number of hedge funds have recently bought and sold shares of NWFL. Charles Schwab Investment Management Inc. increased its holdings in shares of Norwood Financial by 3.0% in 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. 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 worth $2,755,000 after buying an additional 2,402 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of 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 valued at $778,000 after buying an additional 2,563 shares in the last quarter. Barclays PLC raised its stake in Norwood Financial by 280.5% during 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 acquired a new position in Norwood Financial in the third quarter valued at $200,000. Institutional investors and hedge funds 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.