Ronald R. Schmalzle, a director at Norwood Financial Corp (NASDAQ:NWFL), recently acquired 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, amounting to a total transaction value of $199,992. The timing is notable as the stock has experienced a significant 10.8% decline over the past week, according to InvestingPro data. 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 track record of consecutive dividend increases, currently offering a 4.5% yield. InvestingPro analysis suggests the stock is currently undervalued, with a FAIR overall financial health rating. This transaction was reported in a Form 4 filing with the Securities and Exchange Commission.
In other recent news, Norwood Financial Corp has completed an additional stock offering. The bank issued 150,000 shares of common stock following underwriters Piper Sandler & Co and Janney Montgomery Scott LLC exercising 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.
In parallel, Norwood Financial Corp and its subsidiary Wayne Bank have held their quarterly cash dividend steady 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 President and CEO James O. Donnelly. As of June 30, 2024, the bank reported total assets of approximately $2.235 billion, loans outstanding 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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