NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

Finward bancorp CFO Benjamin Schmitt buys $298 in stock

Published 05/11/2024, 01:18
FNWD
-

In a recent transaction reported to the Securities and Exchange Commission, Benjamin Louis Schmitt, the Chief Financial Officer of Finward Bancorp (NASDAQ:FNWD), acquired shares of the company. On October 31, Schmitt purchased 9.5308 shares of common stock at a price of $31.28 per share, totaling approximately $298. Following this transaction, Schmitt's direct ownership in the company increased to 2,989.8877 shares. This transaction highlights continued confidence in the company from its financial leadership.

In other recent news, Finward Bancorp has experienced significant developments. The financial services firm Stephens has increased the price target for Finward Bancorp to $35.00, maintaining an Overweight rating. This adjustment reflects the analyst's confidence in Finward Bancorp's ongoing strategies, including capital increase, effective expense management, and strengthening of its core deposit base.

Further, Finward Bancorp has declared a dividend of $0.12 per share, scheduled for payment to shareholders on record. This financial decision comes after the company's adherence to regulatory compliance measures.

The company also announced the appointment of three new directors, Martin P. Alwin, Jennifer R. Evans, and Carolyn M. Burke, adding diverse expertise to its board. Additionally, Finward Bancorp has included its Senior Vice President, Chief Financial Officer, and Treasurer, Benjamin L. Schmitt, in its Executive Change in Control Severance Plan, waiving the standard three-year employment eligibility requirement.

These recent developments highlight Finward Bancorp's strategic moves in financial strategies, governance, and executive management.

InvestingPro Insights

The recent insider purchase by CFO Benjamin Louis Schmitt aligns with several positive indicators for Finward Bancorp (NASDAQ:FNWD). According to InvestingPro data, the company's stock is trading near its 52-week high, with a price at 96.46% of its peak. This strong performance is reflected in the impressive 69.92% total return over the past year, suggesting investor confidence in the company's direction.

Finward Bancorp's financial health appears robust, with a P/E ratio of 10.19, indicating that the stock may be undervalued compared to its earnings. The company's commitment to shareholder value is evident in its dividend history, with an InvestingPro Tip noting that Finward has maintained dividend payments for 27 consecutive years. This consistency is particularly noteworthy given the current dividend yield of 1.51%.

Despite a slight revenue decline of 2.14% in the last twelve months, Finward Bancorp maintains a strong operating income margin of 19.77%. An InvestingPro Tip suggests that analysts predict the company will remain profitable this year, which could explain the CFO's decision to increase his stake.

For investors seeking a deeper understanding of Finward Bancorp's potential, InvestingPro offers 5 additional tips that could provide valuable insights into the company's prospects and market position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.