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Munster, IN – Finward Bancorp (NASDAQ:FNWD), a $130.6 million market cap financial institution trading at a high earnings multiple, saw Executive Vice President Robert T. Lowry increase his holdings in the company, according to a recent SEC filing. On May 12, Lowry acquired an additional 58.8967 shares of common stock at a price of $30.52 per share, totaling approximately $1,797. This acquisition was made through the company’s Dividend Reinvestment Plan, which has maintained consistent payments for 28 consecutive years, currently yielding 1.59%. InvestingPro data shows the stock has additional upside potential, with analyst targets ranging from $32 to $34.
Following this transaction, Lowry’s indirect ownership, categorized under profit sharing, now includes 15,036.8089 shares. Additionally, he holds 10,846.7252 shares directly, 2,478 shares through an IRA, and 755 shares attributed to his spouse.
Investors often closely monitor insider transactions like these, as they can provide insights into the executive’s confidence in the company’s future performance.
In other recent news, Finward Bancorp’s first-quarter earnings exceeded analyst expectations, reporting operating earnings per share of $0.09, compared to the $0.04 estimate by Stephens. The company’s operating pre-provision net revenue also surpassed forecasts by about 13%, driven by better-than-expected net interest income and net interest margin. However, weaker fee revenues and a higher tax rate posed challenges. Stephens analysts have raised their price target for Finward Bancorp to $34.00 from $32.00 and maintained an Overweight rating on the stock. The tangible book value of the company is currently $29.55, with projections reaching $34.44 by the end of 2026. Additionally, the tangible common equity ratio increased to 6.3%. Despite these positive developments, the securities portfolio, yielding 2.38%, continues to impact overall profitability negatively. Melissa Roberts from Stephens anticipates that Finward Bancorp will be added to the Russell 2000 Index during the upcoming reconstitution, potentially increasing trading activity. Stephens’ analysis suggests that bank stocks often outperform following their addition to the index.
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