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Norwood Financial

Nasdaq:NWFL
Snowflake Description

Flawless balance sheet with proven track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NWFL
Nasdaq
$219M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

Norwood Financial Corp. operates as the bank holding company for Wayne Bank that provides various banking products and services. The last earnings update was 7 days ago. More info.


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NWFL Share Price and Events
7 Day Returns
7.1%
NasdaqGM:NWFL
-5.7%
US Banks
-3.9%
US Market
1 Year Returns
12.7%
NasdaqGM:NWFL
-10.9%
US Banks
1.4%
US Market
NWFL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Norwood Financial (NWFL) 7.1% 10.7% 11.9% 12.7% 87.5% 80.9%
US Banks -5.7% -3.1% -1% -10.9% 44.6% 47.9%
US Market -3.9% -3.6% 1.8% 1.4% 35.8% 40.8%
1 Year Return vs Industry and Market
  • NWFL outperformed the Banks industry which returned -10.9% over the past year.
  • NWFL outperformed the Market in United States of America which returned 1.4% over the past year.
Price Volatility
NWFL
Industry
5yr Volatility vs Market

Value

 Is Norwood Financial undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Norwood Financial to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Norwood Financial.

NasdaqGM:NWFL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $18.68 * 7.1%
$1.32
Book Value of Equity per Share Median Book Value from the past 5 years. $18.68
Discount Rate (Cost of Equity) See below 8.1%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGM:NWFL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.63
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.632 (1 + (1- 21%) (41.64%))
0.893
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.89
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.893 * 5.96%)
8.05%

Discounted Cash Flow Calculation for NasdaqGM:NWFL using Excess Returns Model Model

The calculations below outline how an intrinsic value for Norwood Financial is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqGM:NWFL Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (7.1% – 8.05%) * $18.68)
$-0.18
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.18 / (8.05% - 2.73%)
$-3.39
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $18.68 + $-3.39
$15.29
NasdaqGM:NWFL Discount to Share Price
Calculation Result
Value per share (USD) From above. $15.29
Current discount Discount to share price of $34.97
= -1 x ($34.97 - $15.29) / $15.29
-128.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Norwood Financial is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Norwood Financial's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Norwood Financial's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGM:NWFL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $2.20
NasdaqGM:NWFL Share Price ** NasdaqGM (2019-05-15) in USD $34.97
United States of America Banks Industry PE Ratio Median Figure of 592 Publicly-Listed Banks Companies 12.8x
United States of America Market PE Ratio Median Figure of 3,087 Publicly-Listed Companies 17.79x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Norwood Financial.

NasdaqGM:NWFL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGM:NWFL Share Price ÷ EPS (both in USD)

= 34.97 ÷ 2.20

15.92x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Norwood Financial is overvalued based on earnings compared to the US Banks industry average.
  • Norwood Financial is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Norwood Financial's expected growth come at a high price?
Raw Data
NasdaqGM:NWFL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.92x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
2.2%per year
United States of America Banks Industry PEG Ratio Median Figure of 269 Publicly-Listed Banks Companies 1.42x
United States of America Market PEG Ratio Median Figure of 2,113 Publicly-Listed Companies 1.52x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Norwood Financial, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Norwood Financial's assets?
Raw Data
NasdaqGM:NWFL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $20.27
NasdaqGM:NWFL Share Price * NasdaqGM (2019-05-15) in USD $34.97
United States of America Banks Industry PB Ratio Median Figure of 597 Publicly-Listed Banks Companies 1.2x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
NasdaqGM:NWFL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGM:NWFL Share Price ÷ Book Value per Share (both in USD)

= 34.97 ÷ 20.27

1.72x

* Primary Listing of Norwood Financial.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Norwood Financial is overvalued based on assets compared to the US Banks industry average.
X
Value checks
We assess Norwood Financial's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Norwood Financial has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Norwood Financial expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Norwood Financial, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
2.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Norwood Financial expected to grow at an attractive rate?
  • Norwood Financial's earnings growth is positive but not above the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Norwood Financial's earnings growth is positive but not above the United States of America market average.
  • Unable to compare Norwood Financial's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NasdaqGM:NWFL Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGM:NWFL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 2.2%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 3.9%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGM:NWFL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGM:NWFL Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 43 20 14
2018-12-31 42 17 14
2018-09-30 42 18 11
2018-06-30 41 17 10
2018-03-31 40 15 9
2017-12-31 40 16 8
2017-09-30 39 16 10
2017-06-30 37 16 8
2017-03-31 34 12 7
2016-12-31 32 11 7
2016-09-30 27 10 4
2016-06-30 25 10 6

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Norwood Financial's earnings are expected to grow by 2.2% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Norwood Financial is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGM:NWFL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Norwood Financial Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:NWFL Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 2.20
2018-12-31 2.19
2018-09-30 1.69
2018-06-30 1.57
2018-03-31 1.44
2017-12-31 1.32
2017-09-30 1.67
2017-06-30 1.31
2017-03-31 1.21
2016-12-31 1.16
2016-09-30 0.80
2016-06-30 1.03

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Norwood Financial will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Norwood Financial's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Norwood Financial has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Norwood Financial performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Norwood Financial's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Norwood Financial's year on year earnings growth rate has been positive over the past 5 years.
  • Norwood Financial's 1-year earnings growth exceeds its 5-year average (53.2% vs 10.6%)
  • Norwood Financial's earnings growth has exceeded the US Banks industry average in the past year (53.2% vs 40.8%).
Earnings and Revenue History
Norwood Financial's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Norwood Financial Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:NWFL Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 42.61 13.71 21.47
2018-12-31 42.18 13.65 21.10
2018-09-30 41.51 10.51 20.45
2018-06-30 40.88 9.74 19.87
2018-03-31 40.03 8.95 19.63
2017-12-31 39.62 8.20 19.45
2017-09-30 38.87 10.39 19.64
2017-06-30 37.26 8.06 19.49
2017-03-31 34.47 7.21 18.08
2016-12-31 31.72 6.71 16.58
2016-09-30 26.74 4.49 14.70
2016-06-30 24.62 5.66 13.31
2016-03-31 24.47 5.74 13.08
2015-12-31 24.64 5.91 12.97
2015-09-30 27.15 7.32 12.93
2015-06-30 27.74 7.66 12.81
2015-03-31 28.18 7.73 12.96
2014-12-31 27.99 7.66 12.97
2014-09-30 28.03 8.30 12.67
2014-06-30 28.12 8.32 12.73
2014-03-31 27.48 8.12 12.72
2013-12-31 27.11 8.47 12.74
2013-09-30 26.45 8.04 12.89
2013-06-30 26.30 8.11 12.91
2013-03-31 26.80 8.53 12.80
2012-12-31 27.52 8.40 12.75
2012-09-30 27.88 8.64 12.91
2012-06-30 28.28 8.66 12.78

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Norwood Financial has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Norwood Financial used its assets more efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if Norwood Financial improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Norwood Financial's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Norwood Financial has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Norwood Financial's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Norwood Financial's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Norwood Financial Company Filings, last reported 1 month ago.

NasdaqGM:NWFL Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 126.77 91.08 19.87
2018-12-31 122.29 105.33 17.33
2018-09-30 116.68 89.47 17.37
2018-06-30 115.53 73.61 16.11
2018-03-31 113.84 63.00 12.14
2017-12-31 115.74 78.48 15.59
2017-09-30 117.69 79.00 14.32
2017-06-30 116.17 67.52 16.40
2017-03-31 112.95 57.26 19.84
2016-12-31 111.08 64.81 16.08
2016-09-30 115.70 75.70 33.13
2016-06-30 104.59 74.68 12.62
2016-03-31 102.70 91.53 8.96
2015-12-31 101.00 94.36 9.57
2015-09-30 101.94 70.71 11.72
2015-06-30 99.92 71.05 20.44
2015-03-31 100.45 58.39 19.63
2014-12-31 99.04 47.90 12.01
2014-09-30 97.41 67.30 13.26
2014-06-30 96.20 60.99 15.38
2014-03-31 94.20 63.75 8.75
2013-12-31 91.86 73.68 7.38
2013-09-30 91.35 58.42 27.41
2013-06-30 90.46 52.23 27.30
2013-03-31 92.92 47.20 15.95
2012-12-31 92.42 51.18 11.87
2012-09-30 91.95 59.92 35.34
2012-06-30 90.24 54.77 24.40
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Norwood Financial has an acceptable proportion of non-loan assets held.
  • Norwood Financial's liabilities are made up of primarily low risk sources of funding.
  • Loans at Norwood Financial are broadly funded by customer deposits.
  • Norwood Financial's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Norwood Financial has a sufficient allowance for bad loans.
  • Norwood Financial has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Norwood Financial's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Norwood Financial has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Norwood Financial's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.75%
Current annual income from Norwood Financial dividends.
If you bought $2,000 of Norwood Financial shares you are expected to receive $55 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Norwood Financial's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • Norwood Financial's dividend is below the markets top 25% of dividend payers in United States of America (3.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGM:NWFL Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 472 Stocks 2.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1997 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGM:NWFL Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-14 0.960 3.027
2018-12-14 0.960 3.112
2018-09-14 0.880 2.403
2018-06-14 0.880 2.382
2018-03-16 0.880 2.897
2017-12-15 0.880 2.809
2017-09-13 0.880 2.953
2017-06-14 0.853 3.007
2017-03-30 0.853 3.276
2016-12-16 0.853 3.544
2016-09-15 0.827 4.096
2016-06-17 0.827 4.367
2016-03-09 0.827 4.445
2015-12-11 0.827 4.502
2015-09-11 0.827 4.328
2015-06-11 0.827 4.254
2015-03-13 0.827 4.226
2014-12-12 0.800 4.131
2014-09-15 0.800 4.196
2014-06-12 0.800 4.169
2014-03-14 0.800 4.157
2013-12-12 0.800 4.200
2013-09-13 0.773 4.107
2013-06-14 0.773 3.984
2013-03-15 0.752 3.898
2012-12-13 0.752 4.100
2012-11-09 0.727 3.983
2012-10-19 0.727 3.807
2012-09-13 0.727 4.007
2012-08-08 0.727 4.356
2012-07-25 0.727 4.285
2012-06-14 0.727 4.265
2012-05-10 0.727 4.330
2012-04-18 0.727 4.441
2012-03-14 0.727 4.563
2011-12-16 0.727 4.511
2011-11-08 0.703 4.775
2011-10-21 0.703 4.928
2011-09-15 0.703 4.754
2011-08-09 0.703 4.550
2011-07-27 0.703 4.345
2011-06-15 0.703 4.396
2011-05-09 0.703 4.235
2011-04-20 0.703 4.227
2011-03-15 0.703 4.278
2011-01-25 0.703 4.248
2010-12-20 0.703 4.300
2010-11-05 0.679 3.991
2010-08-11 0.679 4.007
2010-05-10 0.679 4.322
2010-04-22 0.679 4.061
2009-12-10 0.679 4.116
2009-11-09 0.655 4.058
2009-10-21 0.655 3.815
2009-08-10 0.655 3.439

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Norwood Financial's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.4x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Norwood Financial's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Norwood Financial afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Norwood Financial has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Norwood Financial's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Lew Critelli
COMPENSATION $581,879
AGE 58
TENURE AS CEO 9.3 years
CEO Bio

Mr. Lewis J. Critelli, also known as Lew, has been the Chief Executive Officer and President of Norwood Financial Corp. since January 1, 2010. Mr. Critelli has been the Chief Executive Officer and President of Wayne Bank since January 1, 2010. Mr. Critelli served as an Executive Vice President of Norwood Financial Corp. from December, 1998 to March 1, 2010. Mr. Critelli served as the Principal Accounting Officer, Treasurer and Secretary of Norwood Financial Corp. until March 1, 2010. He served as an Executive Vice President and Secretary of Wayne Bank until March 1, 2010. He served as Chief Financial Officer of Norwood Financial Corp. and its subsidiary, Wayne Bank from December, 1998 to March 1, 2010. He has served in a variety of capacities with Norwood Financial Corp. and Wayne Bank. He joined in Wayne Bank as Vice President in January of 1995 and served as it's Senior Vice President from December 1996 to December, 1998. Prior to joining Wayne Bank, Mr. Critelli held the position of Vice President, Treasurer and Comptroller in a financial institution. Mr. Critelli has been a Director of Norwood Financial Corp. and Wayne Bank since April 29, 2009. Mr. Critelli serves as President and Director of the Wayne County Chamber of Commerce. Mr. Critelli served as President & Board Member of the Wayne County YMCA and served on the board as Treasurer of the Honesdale Rotary Club. He is also active in the Pennsylvania Bankers' Association (PBA) having served as President of Group 3. Mr. Critelli obtained his Bachelor of Science degree in Finance from The Pennsylvania State University in 1981 and his Master of Business Administration from Lehigh University in 1987.

CEO Compensation
  • Lew's compensation has been consistent with company performance over the past year.
  • Lew's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Norwood Financial management team in years:

7.4
Average Tenure
58
Average Age
  • The average tenure for the Norwood Financial management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Lew Critelli

TITLE
President
COMPENSATION
$582K
AGE
58
TENURE
9.3 yrs

Bill Lance

TITLE
Executive VP
COMPENSATION
$319K
AGE
58
TENURE
9.2 yrs

Jim Burke

TITLE
Executive VP & Chief Lending Officer
COMPENSATION
$310K
AGE
49

Bob Mancuso

TITLE
Executive VP & COO
COMPENSATION
$276K
AGE
61
TENURE
2.3 yrs

John Sanders

TITLE
Senior Vice President
COMPENSATION
$170K
AGE
61

John Carmody

TITLE
Executive VP & Chief Credit Officer
COMPENSATION
$236K
AGE
48
TENURE
5.6 yrs
Board of Directors Tenure

Average tenure and age of the Norwood Financial board of directors in years:

8
Average Tenure
60.5
Average Age
  • The tenure for the Norwood Financial board of directors is about average.
Board of Directors

Bill Davis

TITLE
Chairman of the Board
COMPENSATION
$71K
AGE
74
TENURE
2.3 yrs

Lew Critelli

TITLE
President
COMPENSATION
$582K
AGE
58
TENURE
10.1 yrs

Andy Forte

TITLE
Vice Chairman of the Board
COMPENSATION
$70K
AGE
60
TENURE
2.3 yrs

Kevin Lamont

TITLE
Director
COMPENSATION
$71K
AGE
59
TENURE
8 yrs

Kenneth Phillips

TITLE
Director
COMPENSATION
$67K
AGE
68
TENURE
31.3 yrs

Ralph Matergia

TITLE
Director
COMPENSATION
$70K
AGE
69
TENURE
14.5 yrs

Susan Campfield

TITLE
Director
COMPENSATION
$68K
AGE
61
TENURE
13 yrs

Joe Adams

TITLE
Director
COMPENSATION
$70K
AGE
55
TENURE
3.5 yrs

Meg Hungerford

TITLE
Director
COMPENSATION
$69K
AGE
41
TENURE
1.9 yrs

Russell Ridd

TITLE
Director Emeritus
COMPENSATION
$14K
AGE
89
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Norwood Financial insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
25. Apr 19 Buy Ralph Matergia Individual 24. Apr 19 24. Apr 19 1,340 $31.83 $42,652
11. Mar 19 Buy Joseph Adams Individual 08. Mar 19 08. Mar 19 300 $29.87 $8,961
30. Jan 19 Buy Andrew Forte Individual 29. Jan 19 29. Jan 19 400 $29.48 $11,792
25. Jan 19 Buy Kevin Lamont Individual 25. Jan 19 25. Jan 19 250 $29.30 $7,325
24. Jan 19 Buy Joseph Adams Individual 24. Jan 19 24. Jan 19 1,030 $29.34 $30,220
19. Nov 18 Buy Robert Mancuso Individual 19. Nov 18 19. Nov 18 1,000 $37.00 $37,000
08. Nov 18 Buy Andrew Forte Individual 08. Nov 18 08. Nov 18 69 $37.00 $2,553
23. Oct 18 Buy Ralph Matergia Individual 22. Oct 18 22. Oct 18 4,150 $36.18 $150,147
27. Sep 18 Buy Andrew Forte Individual 26. Sep 18 26. Sep 18 400 $39.80 $15,920
17. Aug 18 Buy William Davis Individual 17. Aug 18 17. Aug 18 70 $37.08 $2,596
16. Aug 18 Buy Kevin Lamont Individual 15. Aug 18 15. Aug 18 450 $37.00 $16,650
X
Management checks
We assess Norwood Financial's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Norwood Financial has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Should You Worry About Norwood Financial Corp.'s (NASDAQ:NWFL) CEO Salary Level?

In 2010 Lew Critelli was appointed CEO of Norwood Financial Corp. … This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Lew Critelli's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Who Has Been Buying Norwood Financial Corp. (NASDAQ:NWFL) Shares?

The Last 12 Months Of Insider Transactions At Norwood Financial. … That means that an insider was happy to buy shares at above the current price of US$32.20. … To us, it's very important to consider the price insiders pay for shares is very important.

Simply Wall St -

Did Norwood Financial's (NASDAQ:NWFL) Share Price Deserve to Gain 60%?

During three years of share price growth, Norwood Financial achieved compound earnings per share growth of 27% per year. … This EPS growth is higher than the 17% average annual increase in the share price. … Having said that, most people consider earnings and revenue growth trends to be a more meaningful guide to the business

Simply Wall St -

What Type Of Shareholder Owns Norwood Financial Corp.'s (NASDAQ:NWFL)?

Norwood Financial is not a large company by global standards. … Let's take a closer look to see what the different types of shareholder can tell us about NWFL … See our latest analysis for Norwood Financial

Simply Wall St -

Despite Its High P/E Ratio, Is Norwood Financial Corp. (NASDAQ:NWFL) Still Undervalued?

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … We'll show how you can use Norwood Financial Corp.'s (NASDAQ:NWFL) P/E ratio to inform your assessment of the investment opportunity. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Is Norwood Financial Corp. (NASDAQ:NWFL) A Smart Choice For Dividend Investors?

Dividends can be underrated but they form a large part of investment returns, playing an important role in compounding returns in the long run. … Historically, Norwood Financial Corp. … Let's take a look at Norwood Financial in more detail.

Simply Wall St -

How Much Did Norwood Financial Corp.'s (NASDAQ:NWFL) CEO Pocket Last Year?

First, this article will compare CEO compensation with compensation at similar sized companies. … Check out our latest analysis for Norwood Financial? … How Does Lew Critelli's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Read This Before Selling Norwood Financial Corp. (NASDAQ:NWFL) Shares

So shareholders might well want to know whether insiders have been buying or selling shares in Norwood Financial Corp. … Norwood Financial Insider Transactions Over The Last Year. … In the last twelve months there was more buying than selling by Norwood Financial insiders

Simply Wall St -

Here's What Norwood Financial Corp's (NASDAQ:NWFL) P/E Is Telling Us

We'll look at Norwood Financial Corp's (NASDAQ:NWFL) P/E ratio and reflect on what it tells us about the company's share price. … Based on the last twelve months, Norwood Financial's P/E ratio is 22.4. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Understated Factors To Consider Before Investing In Norwood Financial Corp (NASDAQ:NWFL)

Norwood Financial Corp’s (NASDAQ:NWFL) profitability and risk are largely affected by the underlying economic growth for the region it operates in US given it is a small-cap stock with a market capitalisation of US$236m. … Basel III target banking regulations to improve the sector’s ability to absorb shocks resulting from economic stress which may expose financial institutions like Norwood Financial to vulnerabilities. … High liquidity and low leverage could position Norwood Financial favourably at the face of macro headwinds.

Simply Wall St -

Company Info

Description

Norwood Financial Corp. operates as the bank holding company for Wayne Bank that provides various banking products and services. The company accepts a range of deposit products, including interest-bearing and non-interest bearing transaction accounts, and statement savings and money market accounts, as well as certificate of deposits. It also provides various loans, such as commercial loans comprising lines of credit, revolving credit, term loans, mortgages, secured lending products, and letter of credit facilities; municipal finance lending; construction loans for commercial construction projects and single-family residences; land loans; consumer loans; mortgage lending to finance principal residences and second home dwellings; and indirect dealer financing of new and used automobiles, boats, and recreational vehicles. In addition, the company offers investment securities services; trust and investment products; and cash management, direct deposit, remote deposit capture, mobile deposit capture, mobile payment, automated clearing house activity, title and real estate settlement, and Internet and mobile banking services. Further, it is involved in the annuity and mutual fund sale, and discount brokerage activities, as well as insurance agency business. The company serves consumers, businesses, nonprofit organizations, and municipalities. It operates 14 offices in Northeastern Pennsylvania; and 12 offices in Delaware and Sullivan Counties, New York, as well as 27 automated teller machines. The company was founded in 1870 and is headquartered in Honesdale, Pennsylvania.

Details
Name: Norwood Financial Corp.
NWFL
Exchange: NasdaqGM
Founded: 1870
$218,714,269
6,254,340
Website: http://www.waynebank.com
Address: Norwood Financial Corp.
717 Main Street,
Honesdale,
Pennsylvania, 18431,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGM NWFL Common Stock Nasdaq Global Market US USD 11. Oct 1990
Number of employees
Current staff
Staff numbers
207
Norwood Financial employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/16 01:27
End of day share price update: 2019/05/15 00:00
Last earnings filing: 2019/05/09
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.