Ronald R. Schmalzle, director of Norwood Financial Corp (NASDAQ:NWFL), recently acquired 7,692 shares of the company's common stock. The purchase, which took place on December 19, 2024, was made at a price of $26 per share, which equates to a transaction value of $199,992. The timing is notable as the stock experienced a massive 10.8% decline last week, according to the report 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 has achieved its 27-year record of consecutive dividend increases, currently offering a yield of 4.5%. InvestingPro The analysis shows that the stock is currently undervalued, with a FAIR rating for financial health. This transaction was reported in a Form 4 filing with the Securities and Exchange Commission.
In other recent news, Norwood Financial Corp completed additional stock. The bank issued 150,000 shares of common stock following the underwriters Piper Sandler & Co and Janney Montgomery Scott LLC's exercise of 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.
Meanwhile, Norwood Financial Corp and its subsidiary Wayne Bank held their quarterly earnings steady at $0.30 per share. The ability of the bank to maintain this payment is due to its financial health and great strength, as explained by the President and CEO James O. Donnelly. As of June 30, 2024, the bank reported total assets of $2.235 billion, outstanding loans of $1.641 billion, total deposits of $1.811 billion, and cash of $182.2 million.
This is a recent development 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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