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

Norwood Financial Corp. (NASDAQ:NWFL - Get Free Report) experienced a notable decline in short interest during the month of December. As of December 15th, the total short interest amounted to 33,400 shares, reflecting a significant decrease of 26.3% compared to the November 30th figure of 45,300 shares. Currently, only about 0.4% of the total shares are short sold. Given an average trading volume of 11,900 shares, the days-to-cover ratio stands at 2.8 days.

Insider Activity at Norwood Financial

In other developments, Director Ronald R. Schmalzle purchased 7,692 shares of Norwood Financial's stock on December 19th. The shares were acquired at an average price of $26.00 each, resulting in a total investment of $199,992. Following this purchase, Schmalzle holds 15,510 shares of the company, valued at $403,260. This transaction represents an increase of 98.39% in his ownership stake. The details of this transaction have been disclosed in a filing with the Securities and Exchange Commission (SEC). Presently, corporate insiders own approximately 9.10% of the stock.

Institutional Investors and Their Positions

Recently, various institutional investors have adjusted their holdings in Norwood Financial. Charles Schwab Investment Management Inc. has increased its stake by 3.0% during the third quarter and now holds 20,537 shares worth $566,000 after purchasing an additional 600 shares. Cetera Investment Advisers has made a substantial increase of 258.7% to its position, now owning 84,919 shares valued at $2,155,000 after acquiring an additional 61,247 shares during the last quarter. Furthermore, Code Waechter LLC purchased a new stake valued at around $815,000 in the third quarter, while Signature Estate & Investment Advisors LLC added a new stake worth approximately $200,000. Lastly, Bank of New York Mellon Corp. has enhanced its position by 9.1% during the second quarter, now holding 30,657 shares worth $778,000 after adding 2,563 shares. Overall, institutional investors and hedge funds collectively own 28.08% of the company’s stock.

Norwood Financial Stock Performance

As of midday trading on Friday, shares of NASDAQ:NWFL dropped $0.02 to $26.75. The trading volume reached 14,544 shares, exceeding the average volume of 11,317 shares. Norwood Financial has a market capitalization of $216.46 million, a PE ratio of 16.82, and a beta of 0.61. The stock has seen a twelve-month low of $23.50 and a high of $34.50. Its fifty-day moving average is $29.56, while the 200-day moving average is $27.66. The company’s quick ratio is 0.91, with a current ratio of 0.91 and a debt-to-equity ratio of 0.74.

Recent Dividend Announcement

Norwood Financial has also announced a quarterly dividend, set to be paid on February 3rd. Investors on record as of January 15th will receive a dividend of $0.31, which is an increase from the previous dividend of $0.30. This translates to an annualized dividend of $1.24 and a yield of 4.64%. The ex-dividend date is January 15th, and the company’s current dividend payout ratio is 77.99%.

Company Overview

Norwood Financial Corp. serves as the bank holding company for Wayne Bank, offering a variety of banking products and services. These services include a range of deposit products such as interest-bearing and non-interest-bearing transaction accounts, statement savings accounts, money market accounts, and certificates of deposit.

Norwood, Financial, Stocks