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

Norwood Financial Corp. (NASDAQ:NWFL) experienced a significant decline in short interest throughout December. On December 15th, the total short interest was recorded at 33,400 shares, which marks a substantial decrease of 26.3% from the previous month's total of 45,300 shares as of November 30th. Currently, only about 0.4% of the total shares are short sold. With an average daily trading volume of 11,900 shares, this results in a days-to-cover ratio of approximately 2.8 days.

Norwood Financial has also seen some movement among its insiders and institutional investors. In a noteworthy transaction on December 19th, Director Ronald R. Schmalzle purchased 7,692 shares of Norwood's stock at an average price of $26.00. This acquisition amounted to a total investment of $199,992, leading to an impressive 98.39% increase in the director's ownership, now totaling 15,510 shares valued at roughly $403,260. This insider activity was disclosed in a legal filing with the Securities and Exchange Commission.

Insider Activity at Norwood Financial

Insiders currently hold around 9.10% of the company's stock. Alongside insider transactions, institutional investors have made significant adjustments to their stakes in Norwood Financial. For instance, during the third quarter, Charles Schwab Investment Management Inc. augmented its holdings by 3.0%, acquiring an additional 600 shares, bringing its total ownership to 20,537 shares valued at about $566,000.

Additionally, Cetera Investment Advisers dramatically increased its shareholding by 258.7% in the second quarter, now controlling 84,919 shares worth $2,155,000 after purchasing 61,247 additional shares. Other noteworthy institutional moves include Code Waechter LLC acquiring a new stake worth approximately $815,000 and Signature Estate & Investment Advisors LLC purchasing shares valued at around $200,000, both during the third quarter. Furthermore, Bank of New York Mellon Corp. raised its position by 9.1%, acquiring an additional 2,563 shares, bringing its total to 30,657 shares valued at approximately $778,000. Overall, institutional investors and hedge funds combined own about 28.08% of Norwood Financial's stock.

Norwood Financial Stock Performance

The stock price of Norwood Financial was observed trading down $0.02, reaching $26.75 during midday trading on Friday. The trading volume for the day was higher than average, hitting 14,544 shares compared to an average volume of 11,317. With a market capitalization of $216.46 million, Norwood Financial currently has a PE ratio of 16.82 and a beta of 0.61. Over the past twelve months, the stock has reached a high of $34.50 and a low of $23.50. Its fifty-day moving average stands at $29.56, while the 200-day moving average is $27.66. The company presents a quick ratio and current ratio both at 0.91, alongside a debt-to-equity ratio of 0.74.

Norwood Financial Increases Dividend

Recently, Norwood Financial also announced an increase in its quarterly dividend, set to be paid on February 3rd. Shareholders on record by January 15th will receive a dividend of $0.31 per share, up from the previous dividend of $0.30. This reflects an annualized dividend of $1.24, resulting in a yield of 4.64%. The ex-dividend date is also set for January 15th, and the company’s dividend payout ratio is currently at 77.99%.

Norwood Financial Company Profile

Norwood Financial Corp. serves as the bank holding company for Wayne Bank, offering a variety of banking products and services. The bank provides diverse deposit options, including both interest-bearing and non-interest-bearing accounts, as well as statement savings, money market accounts, and certificates of deposit.

Stock, Finance, Investment