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In a recent transaction, Benjamin J. Bochnowski, President and CEO of Finward Bancorp (NASDAQ:FNWD), purchased 37 shares of the company's common stock. The regional bank, currently valued at $114 million, trades at an attractive P/E ratio of 9.4x and offers a dividend yield of 1.82%. The shares were acquired at a price of $26.65 each, amounting to a total purchase value of $986. Following this acquisition, Bochnowski's direct ownership stands at 28,881 shares. Additionally, Bochnowski holds 1,835.7197 shares indirectly through profit-sharing arrangements. This transaction highlights Bochnowski's ongoing commitment to the company, as reflected in his increased stake. According to InvestingPro, the company has maintained dividend payments for 28 consecutive years, though analysis suggests the stock is currently trading slightly above its Fair Value.
In other recent news, Finward Bancorp has made significant changes to its executive team, promoting Benjamin L. Schmitt to the role of Executive Vice President, Chief Financial Officer, and Treasurer. This promotion, effective from November 22, 2024, is a step up from his previous role as Senior Vice President, Chief Financial Officer, and Treasurer, a position he held since joining the company in February 2024. As part of the promotion, Schmitt received a one-time cash bonus of $23,900, but his existing compensation arrangements remain unchanged.
Schmitt brings a wealth of experience to his new role, having previously served as President of Rally Consulting LLC and Managing Director at Piper Sandler Companies. His early career began as an investment analyst at Mercer (NASDAQ:MERC) Investment Consulting. These recent developments at Finward Bancorp highlight the company's focus on utilizing experienced talent to drive its financial strategies. The company did not disclose any other contractual agreements associated with Schmitt's promotion.
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