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

Equities research analysts at Janney Montgomery Scott initiated coverage on shares of Norwood Financial (NASDAQ:NWFL) in a research note issued on Thursday, Marketbeat.com reports. The brokerage set a “buy” rating and a $31.00 price target on the financial services provider’s stock. Janney Montgomery Scott’s price target suggests a potential upside of 17.60% from the stock’s previous close.

Norwood Financial Stock Down 0.7 %

NWFL stock opened at $26.36 on Thursday. The business’s 50-day simple moving average is $29.49 and its 200 day simple moving average is $27.71. 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 company has a market cap of $213.31 million, a PE ratio of 16.58 and a beta of 0.61. Norwood Financial has a twelve month low of $23.50 and a twelve month high of $34.50.

Insiders Place Their Bets

In other Norwood Financial news, Director Ronald R. Schmalzle purchased 7,692 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was purchased at an average price of $26.00 per share, for a total transaction of $199,992.00. Following the completion of the purchase, the director now directly owns 15,510 shares in the company, valued at approximately $403,260. This trade represents a 98.39 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On Norwood Financial

Hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers grew its position in Norwood Financial by 258.7% in the second quarter. Cetera Investment Advisers now owns 84,919 shares of the financial services provider’s stock valued at $2,155,000 after acquiring an additional 61,247 shares during the period. Code Waechter LLC bought a new stake in shares of Norwood Financial in the 3rd quarter worth about $815,000. JPMorgan Chase & Co. increased its position 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 in the last quarter. Signature Estate & Investment Advisors LLC bought a new position in Norwood Financial during the 3rd quarter valued at about $200,000. Finally, Barclays PLC boosted its position in Norwood Financial by 280.5% in the third quarter. Barclays PLC now owns 9,787 shares of the financial services provider’s stock valued at $270,000 after buying an additional 7,215 shares in the last quarter. 28.08% of the stock is owned by institutional investors and hedge funds.

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.