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

Equities researchers at Piper Sandler assumed coverage on shares of Norwood Financial (NASDAQ:NWFL) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage set a “neutral” rating and a $28.00 price target on the financial services provider’s stock. Piper Sandler’s target price would suggest a potential upside of 6.30% from the company’s current price.

Separately, Janney Montgomery Scott began coverage on shares of Norwood Financial in a research report on Thursday, January 2nd. They set a “buy” rating and a $31.00 price target for the company.

Norwood Financial Stock Up 1.3 %

Shares of NWFL opened at $26.34 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.74. The stock has a market cap of $213.14 million, a price-to-earnings ratio of 16.57 and a beta of 0.62. Norwood Financial has a 12 month low of $23.50 and a 12 month high of $34.50. The company has a 50-day moving average price of $29.36 and a two-hundred day moving average price of $27.76.

Insider Transactions at Norwood Financial

In related news, Director Ronald R. Schmalzle purchased 7,692 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were bought at an average cost of $26.00 per share, with a total value of $199,992.00. Following the acquisition, the director now owns 15,510 shares of the company’s stock, valued at $403,260. This trade represents a 98.39 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 9.10% of the company’s stock.

Institutional Investors Weigh In On Norwood Financial

A number of institutional investors have recently modified their holdings of NWFL. Signature Estate & Investment Advisors LLC acquired a new stake in Norwood Financial in the 3rd quarter valued at $200,000. Barclays PLC boosted its holdings in shares of 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 buying an additional 7,215 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Norwood Financial by 250.5% during 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 during the last quarter. Charles Schwab Investment Management Inc. lifted 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 buying an additional 600 shares during the last quarter. Finally, Code Waechter LLC bought a new stake in shares of Norwood Financial in the third quarter valued at approximately $815,000. 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.