Short Interest in Norwood Financial Corp. (NASDAQ:NWFL) Drops By 26.3%

Norwood Financial Corp. (NASDAQ:NWFL) saw a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 33,400 shares, a drop of 26.3% from the November 30th total of 45,300 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average daily volume of 11,900 shares, the days-to-cover ratio is currently 2.8 days.

Insider Activity at Norwood Financial

In other news, Director Ronald R. Schmalzle acquired 7,692 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were 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 in the company, valued at $403,260. This trade represents a 98.39 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Norwood Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Norwood Financial by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 20,537 shares of the financial services provider’s stock worth $566,000 after buying an additional 600 shares during the period. Cetera Investment Advisers grew its position in Norwood Financial by 258.7% in the 2nd quarter. Cetera Investment Advisers now owns 84,919 shares of the financial services provider’s stock valued at $2,155,000 after buying an additional 61,247 shares during the last quarter. Code Waechter LLC acquired a new stake in Norwood Financial in the third quarter valued at about $815,000. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Norwood Financial in the third quarter valued at approximately $200,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Norwood Financial by 9.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 30,657 shares of the financial services provider’s stock worth $778,000 after purchasing an additional 2,563 shares in the last quarter. Institutional investors and hedge funds own 28.08% of the company’s stock.

Norwood Financial Stock Performance

Shares of NASDAQ:NWFL traded down $0.02 during midday trading on Friday, reaching $26.75. The company’s stock had a trading volume of 14,544 shares, compared to its average volume of 11,317. The firm has a market capitalization of $216.46 million, a PE ratio of 16.82 and a beta of 0.61. Norwood Financial has a twelve month low of $23.50 and a twelve month high of $34.50. The stock has a fifty day moving average of $29.56 and a 200 day moving average of $27.66. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.74.

Norwood Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be paid a $0.31 dividend. This is an increase from Norwood Financial’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 4.64%. The ex-dividend date is Wednesday, January 15th. Norwood Financial’s dividend payout ratio is currently 77.99%.

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.