MUNSTER, Ind.—Robert T. Lowry, Executive Vice President of Finward Bancorp (NASDAQ:FNWD), has increased his holdings in the company. According to a recent SEC filing, Lowry acquired 56.9875 shares of Finward's common stock on October 31, 2024, at a price of $31.28 per share. This purchase amounts to a total investment of $1,782.
Following this transaction, Lowry's total direct and indirect ownership in Finward Bancorp has increased. His shares are held across various accounts, including direct holdings and indirect ownership through an IRA and profit-sharing plan.
Finward Bancorp, headquartered in Munster, Indiana, is a federally chartered savings institution. The company continues to engage in its core financial services, providing banking solutions to its clients.
In other recent news, Finward Bancorp has seen a flurry of activity. Financial services firm Stephens raised the price target for Finward Bancorp to $35.00, maintaining an Overweight rating on the stock. This decision reflects their confidence in Finward Bancorp's strategy to increase capital and manage expenses effectively. In addition, the company declared a dividend of $0.12 per share, highlighting its commitment to providing returns to shareholders.
The company has also made significant changes to its board, appointing three new directors - Martin P. Alwin, Jennifer R. Evans, and Carolyn M. Burke. These additions are expected to bring diverse expertise to the board and further support the creation of shareholder value.
Moreover, Finward Bancorp included its Senior Vice President, Chief Financial Officer and Treasurer, Benjamin L. Schmitt, in its Executive Change in Control Severance Plan. This strategic move is aimed at ensuring stability and retaining key executives during potential transitions.
These recent developments underscore Finward Bancorp's commitment to its financial strategies and governance, as well as its dedication to delivering shareholder value.
InvestingPro Insights
Robert T. Lowry's recent purchase of Finward Bancorp (NASDAQ:FNWD) shares aligns with several positive indicators highlighted by InvestingPro. The stock has shown remarkable strength, with a 69.92% total return over the past year and is currently trading near its 52-week high at 96.46% of that peak. This performance is reflected in an InvestingPro Tip noting the "high return over the last year" and another stating it's "trading near 52-week high."
Despite the strong stock performance, Finward's valuation remains attractive with a P/E ratio of 10.19, suggesting it may still be undervalued relative to its earnings. This could explain why an executive like Lowry is increasing his stake in the company.
Finward's financial health appears solid, with the company being profitable over the last twelve months and analysts predicting continued profitability this year. Additionally, Finward has maintained dividend payments for 27 consecutive years, demonstrating a commitment to shareholder returns. The current dividend yield stands at 1.51%, providing a steady income stream for investors.
For those interested in a deeper analysis, InvestingPro offers 8 additional tips and a comprehensive set of financial metrics for Finward Bancorp. These insights can provide valuable context for understanding executive transactions like Lowry's recent purchase.
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