Hovde Group Downgrades Finward Bancorp (NASDAQ:FNWD) to Market Perform

Finward Bancorp (NASDAQ:FNWD) was downgraded by equities research analysts at Hovde Group from an “outperform” rating to a “market perform” rating in a research report issued on Monday, MarketBeat Ratings reports.

Finward Bancorp Price Performance

Shares of NASDAQ FNWD opened at $29.45 on Monday. The company has a fifty day moving average price of $27.10 and a 200 day moving average price of $29.24. The firm has a market cap of $127.05 million, a PE ratio of 10.41 and a beta of 0.53. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.53. Finward Bancorp has a 1-year low of $23.50 and a 1-year high of $33.50.

Finward Bancorp (NASDAQ:FNWD) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.31. Finward Bancorp had a return on equity of 7.91% and a net margin of 10.85%. Research analysts predict that Finward Bancorp will post 0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Finward Bancorp

In related news, Director Carolyn M. Burke purchased 1,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was purchased at an average cost of $26.80 per share, for a total transaction of $26,800.00. Following the completion of the purchase, the director now directly owns 1,000 shares in the company, valued at $26,800. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert W. Youman acquired 1,400 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were bought at an average price of $27.76 per share, for a total transaction of $38,864.00. Following the purchase, the director now owns 22,773 shares in the company, valued at approximately $632,178.48. This represents a 6.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 6,472 shares of company stock worth $174,563. Insiders own 13.70% of the company’s stock.

Institutional Trading of Finward Bancorp

A number of large investors have recently added to or reduced their stakes in FNWD. Commonwealth Equity Services LLC bought a new stake in shares of Finward Bancorp in the 4th quarter valued at about $221,000. Northern Trust Corp raised its stake in Finward Bancorp by 37.5% in the fourth quarter. Northern Trust Corp now owns 15,021 shares of the company’s stock valued at $422,000 after buying an additional 4,098 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Finward Bancorp by 8.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 17,641 shares of the company’s stock valued at $496,000 after buying an additional 1,393 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Finward Bancorp by 7.9% during the 3rd quarter. Geode Capital Management LLC now owns 38,662 shares of the company’s stock worth $1,237,000 after acquiring an additional 2,825 shares during the period. Finally, Finward Bancorp acquired a new position in shares of Finward Bancorp in the fourth quarter valued at $4,175,000. Institutional investors and hedge funds own 26.59% of the company’s stock.

Finward Bancorp Company 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.