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An announcement from Norwood Financial ( (NWFL) ) is now available.
Norwood Financial Corp recently completed a capital raise by issuing over a million new shares of common stock, generating approximately $30 million in gross proceeds. The company plans to use these funds to reposition its available for sale debt securities portfolio, which has been impacted by rising interest rates, aiming to improve its yield and long-term earnings potential. This strategic move is expected to enhance the bank’s financial performance, bolster its capital ratios, and attract interest from high-quality, long-term community bank investors, thereby solidifying its market position and commitment to shareholders.
More about Norwood Financial
Norwood Financial Corp is a growth-oriented community bank that operates as Wayne Bank. The bank has a long-standing history of 153 years, focusing on providing loans to small businesses, consumer loans, and offering a variety of deposit products. It also provides non-FDIC insured investment products and services such as Wealth Management and Trust Services, with a strong emphasis on credit quality and customer service.
YTD Price Performance: -11.01%
Average Trading Volume: 11,803
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $254.8M
For detailed information about NWFL stock, go to TipRanks’ Stock Analysis page.
