Ronald R. Schmalzle, director of Norwood Financial Corp (NASDAQ:NWFL), recently purchased 7,692 shares of the company’s common stock. The purchase, executed on December 19, 2024, was made at a price of $26 per share, equivalent to a total transaction value of $199,992. The timing is notable, as the stock saw a significant 10.8% drop over the past week, according to data from InvestingPro. Following this acquisition, Schmalzle now directly owns 15,510 shares of Norwood Financial, a regional bank with a market capitalization of $218 million. The company stands out for its 27-year history of consecutive dividend increases, currently offering a profitability of 4.5%. InvestingPro’s analysis suggests the stock is currently undervalued, with an overall financial health rating of FAIR. This transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission.
In other recent news, Norwood Financial Corp completed an additional share offering. The bank issued 150,000 common shares after underwriters Piper Sandler & Co and Janney Montgomery Scott LLC exercised a 30-day option to purchase more shares. This brings the total number of shares sold in this offering to 1,150,000. The transaction was confirmed by the company’s executive vice president and chief financial officer, John M. McCaffery.
At the same time, Norwood Financial Corp and its subsidiary Wayne Bank have kept their quarterly cash dividend stable at $0.30 per share. The bank’s ability to maintain this dividend is attributed to its financial health and capital strength, as stated by Chairman and CEO James O. Donnelly. As of June 30, 2024, the bank reported total assets of approximately $2.235 billion, outstanding loans of $1.641 billion, total deposits of $1.811 billion and total capital of $182.2 million.
These are recent developments that may be of interest to investors and shareholders. However, it is important to note that these developments are not predictions or guarantees of future performance.
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