Raymond James Financial Inc. Buys New Shares in Norwood Financial Corp. (NASDAQ:NWFL)

Raymond James Financial Inc. bought a new position in Norwood Financial Corp. (NASDAQ:NWFL - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 51,247 shares of the financial services provider's stock, valued at approximately $1,394,000. Raymond James Financial Inc. owned approximately 0.63% of Norwood Financial at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in Norwood Financial by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 20,537 shares of the financial services provider's stock worth $566,000 after purchasing an additional 600 shares in the last quarter. State Street Corp grew 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 in the last quarter. Barclays PLC grew its position in shares of 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 buying an additional 7,215 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Norwood Financial by 250.5% during the third quarter. JPMorgan Chase & Co. now owns 13,922 shares of the financial services provider's stock valued at $384,000 after buying an additional 9,950 shares during the period. 28.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NWFL has been the topic of several recent research reports. Piper Sandler assumed coverage on shares of Norwood Financial in a report on Wednesday, January 8th. They set a "neutral" rating and a $28.00 target price on the stock. Janney Montgomery Scott assumed coverage on shares of Norwood Financial in a research report on Thursday, January 2nd. They issued a "buy" rating and a $31.00 price target for the company. Finally, StockNews.com lowered shares of Norwood Financial from a "hold" rating to a "sell" rating in a report on Tuesday, February 25th.

Insider Transactions at Norwood Financial

In other Norwood Financial news, Director Ronald R. Schmalzle purchased 2,000 shares of the company's stock in a transaction dated Thursday, January 30th. The shares were acquired at an average price of $26.00 per share, for a total transaction of $52,000.00. Following the completion of the purchase, the director now owns 17,621 shares of the company's stock, valued at approximately $458,146. The trade was a 12.80 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 9.10% of the company's stock.

Norwood Financial Stock Down 3.7 %

NWFL stock traded down $0.85 during trading on Monday, reaching $22.31. 25,161 shares of the company traded hands, compared to its average volume of 12,239. The business has a 50 day simple moving average of $25.23 and a 200 day simple moving average of $27.31. Norwood Financial Corp. has a 12 month low of $20.98 and a 12 month 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 company has a market capitalization of $206.66 million, a price-to-earnings ratio of 2,231.00 and a beta of 0.54.

Norwood Financial (NASDAQ:NWFL - Get Free Report) last released its quarterly earnings results on Monday, February 3rd. The financial services provider reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates of $0.55 by ($0.17). Norwood Financial had a negative net margin of 0.16% and a positive return on equity of 8.38%. On average, equities research analysts anticipate that Norwood Financial Corp. will post 2.51 earnings per share for the current fiscal year.

Norwood Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 5.56%. The ex-dividend date of this dividend is Tuesday, April 15th. Norwood Financial's dividend payout ratio is currently 12,400.00%.

Norwood Financial 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.