26,580 Shares in Finward Bancorp $FNWD Acquired by Raffles Associates LP

Raffles Associates LP acquired a new stake in shares of Finward Bancorp (NASDAQ:FNWD) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 26,580 shares of the company’s stock, valued at approximately $978,000. Finward Bancorp makes up about 0.8% of Raffles Associates LP’s investment portfolio, making the stock its 26th largest position.

Several other large investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in Finward Bancorp by 99.7% in the 2nd quarter. Geode Capital Management LLC now owns 81,669 shares of the company’s stock worth $2,256,000 after buying an additional 40,778 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Finward Bancorp during the 2nd quarter valued at $45,000. New York State Common Retirement Fund acquired a new position in shares of Finward Bancorp in the second quarter worth $102,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Finward Bancorp in the second quarter worth $52,000. Finally, Bank of America Corp DE raised its holdings in shares of Finward Bancorp by 5,428.1% during the second quarter. Bank of America Corp DE now owns 1,769 shares of the company’s stock worth $49,000 after acquiring an additional 1,737 shares in the last quarter. Institutional investors and hedge funds own 26.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Weiss Ratings raised Finward Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 19th. Zacks Research raised Finward Bancorp to a “hold” rating in a research report on Monday, July 13th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $41.00.

Finward Bancorp Stock Down 0.8%

FNWD stock opened at $43.03 on Friday. The firm has a market cap of $186.32 million, a PE ratio of 18.96 and a beta of 0.16. Finward Bancorp has a 1 year low of $30.05 and a 1 year high of $45.90. The company has a fifty day simple moving average of $40.41 and a 200 day simple moving average of $36.77. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36.

Finward Bancorp (NASDAQ:FNWD) last posted its earnings results on Tuesday, July 28th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.14). Finward Bancorp had a net margin of 9.65% and a return on equity of 5.68%. The company had revenue of $17.58 million for the quarter, compared to the consensus estimate of $18.90 million. Sell-side analysts anticipate that Finward Bancorp will post 2.63 EPS for the current fiscal year.

Finward Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Wednesday, June 17th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Wednesday, June 17th. Finward Bancorp’s dividend payout ratio (DPR) is presently 21.15%.

Finward Bancorp Profile

Finward Bancorp (NASDAQ: FNWD) is the bank holding company for Finward Bank, a community-focused financial institution serving businesses and individuals across Pennsylvania and Delaware. Through a network of full-service branches and a robust digital banking platform, Finward Bank delivers a range of personal and commercial banking solutions designed to meet the needs of local customers.

The company’s core offerings include deposit products such as checking accounts, savings accounts and time deposits, as well as a variety of lending solutions.