16,000 Shares in Finward Bancorp $FNWD Purchased by OLD National Bancorp IN

OLD National Bancorp IN purchased a new position in Finward Bancorp (NASDAQ:FNWD) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 16,000 shares of the company’s stock, valued at approximately $442,000.

Separately, PL Capital Advisors LLC lifted its stake in shares of Finward Bancorp by 11.2% in the first quarter. PL Capital Advisors LLC now owns 395,716 shares of the company’s stock worth $11,515,000 after acquiring an additional 40,000 shares in the last quarter. Institutional investors own 26.59% of the company’s stock.

Finward Bancorp Trading Down 0.4%

Shares of NASDAQ FNWD opened at $31.80 on Wednesday. The stock’s 50 day moving average price is $30.79 and its two-hundred day moving average price is $29.69. Finward Bancorp has a 52-week low of $26.12 and a 52-week high of $33.50. The stock has a market capitalization of $137.38 million, a P/E ratio of 25.65 and a beta of 0.31. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.42.

Finward Bancorp (NASDAQ:FNWD) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.26. Finward Bancorp had a return on equity of 3.45% and a net margin of 5.23%.The firm had revenue of $16.63 million for the quarter, compared to analysts’ expectations of $16.85 million. On average, analysts anticipate that Finward Bancorp will post 0.9 earnings per share for the current fiscal year.

Finward Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 29th were paid a dividend of $0.12 per share. The ex-dividend date was Friday, August 29th. This represents a $0.48 annualized dividend and a yield of 1.5%. Finward Bancorp’s dividend payout ratio is presently 38.71%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wall Street Zen upgraded Finward Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Finward Bancorp in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $34.00.

Finward Bancorp Profile

Finward Bancorp operates as the holding company for Peoples Bank that provides various banking products and services. The company’s deposit products include non-interest- and interest-bearing demand accounts, savings accounts, money market deposit accounts, certificate accounts, and retirement savings plans.