Norwood Financial Corp NWFL

FinancialsBanking ServicesUnited States of America

Last close 35.51 USD on Nov 1, 2026, +31.9% year to date

Quant rating

Quant rating B Rank 315 of 799 in Financials

Growth D 571 of 799
Valuation C 542 of 799
Quality C 363 of 799
Revisions C 353 of 799
Momentum A 115 of 799

Wall Street consensus Buy (2.50)Average target 36.50 USD +2.8%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 388M
Enterprise value: 424M
52-week range: 26.25 – 37.39
3-year range: 21.67 – 37.39
Dividend yield: 3.60%
Beta (5 years): 0.55
Shares outstanding: 10.9M
Next earnings: Jan 27, 2027

About the company

Norwood Financial Corp. is a holding company for Wayne Bank (the Bank). The Bank offers a variety of personal and business credit services, trust and investment products and real estate settlement services to consumers, businesses, nonprofit organizations, and municipalities in each of the communities that it serves. The Bank operates over 33 offices, which primarily serve the northeastern Pennsylvania counties of Wayne, Pike, Monroe, Lackawanna and Luzerne, Chester, Lancaster Counties, and Susquehanna County, in addition to the New York counties of Delaware, Sullivan, Ontario, Otsego and Yates. In addition, the Bank operates automated teller machines at 30 branch facilities plus one machine at an off-site location. The Bank operates a Wealth Management/Trust Department, which provides estate planning, investment management and financial planning to customers.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	127	113	95.5	75.7	71.1	–
Revenue growth	12.4%	17.8%	26.3%	6.5%	21.6%	16.7%
EPS (basic, normalized)	3.11	−0.02	2.08	3.59	3.05	–
EPS growth	–	–	−42.1%	17.9%	30.9%	6.0%
Gross margin	–	–	–	–	–	–
Net margin	21.9%	−0.1%	17.5%	38.6%	35.1%	22.6%
ROE	12.2%	−0.1%	–	–	–	6.1%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Tier 1 risk-adjusted capital ratio	11.9%
Long-term debt (mil)	0
Net debt (mil)	–
Total equity (mil)	283
Net debt / equity	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			Book value per share			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	P/B	Mean est.	Growth	P/E
2025 actual	127	+12.4%	3.3x	26.06	+13.2%	1.4x	3.01	+56.0%	11.8x
2026	105	−17.2%	4.0x	27.83	+6.8%	1.3x	3.48	+15.4%	10.2x
2027	111	+6.3%	3.8x	30.29	+8.8%	1.2x	3.88	+11.5%	9.2x
2028	124	+11.0%	3.4x	–	–	–	4.42	+14.1%	8.0x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	105	0.0%	−4.8%	−8.2%	3.48	0.0%	−0.3%	+0.7%
2027	111	0.0%	−4.3%	−8.1%	3.88	0.0%	+0.6%	+5.7%
2028	124	0.0%	–	–	4.42	0.0%	–	–

Earnings surprises EPS beat in 2 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	FQ-9	FQ-8	FQ-7	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	–	–	–	6.4	18.7	21.3	21.0	23.5	24.6	26.8
Sales mean (mil)	–	–	–	18.8	20.2	21.4	21.9	23.5	27.7	25.5
Surprise	–	–	–	−65.8%	−7.9%	−0.4%	−4.3%	−0.2%	−11.4%	+5.3%
EPS reported	–	–	–	0.38	0.63	0.67	0.89	0.80	0.72	0.86
EPS mean	–	–	–	0.55	0.59	0.66	0.70	0.85	0.48	0.86
Surprise	–	–	–	−30.9%	+6.8%	+2.0%	+27.7%	−5.5%	+50.0%	−0.6%

Peer comparison Banking Services

Peers in the same industry group, by market capitalization
Company	Market cap	Tier 1 ratio	Net margin	Deposits/loans	FY1 P/E	FY2 P/E	FY1 P/B	FY2 P/B
NWFL Norwood Financial Corp	388M	11.9%	21.9%	1.13x	10.2x	9.2x	1.3x	1.2x
CBU Community Financial System Inc	3.3B	11.7%	30.0%	1.32x	13.5x	12.1x	1.5x	1.4x
NBTB NBT Bancorp Inc.	2.7B	12.2%	23.8%	1.18x	12.5x	11.5x	1.5x	1.4x
NWBI Northwest Bancshares Inc	2.2B	12.2%	16.8%	1.08x	10.9x	10.5x	1.1x	1.1x
FCF First Commonwealth Financial Corp	2.0B	13.4%	24.1%	1.09x	12.2x	10.6x	1.3x	1.2x
STBA S&T Bancorp Inc	1.8B	14.0%	26.0%	1.00x	12.6x	12.3x	1.3x	1.2x
Mean		12.6%	23.8%	1.14x	12.0x	11.0x	1.3x	1.2x
Median		12.2%	23.9%	1.11x	12.3x	11.0x	1.3x	1.2x

Technical analysis

1M+5.8%
3M+5.3%
1Y+38.0%
3Y+62.6%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Norwood Financial Corp, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Interest income	127	113	95.5	75.7	71.1	58.5
Total interest expense	48.2	50.4	33.5	7.3	5.8	8.0
Net interest income	78.3	62.2	62.1	68.4	65.3	50.5
Loan loss provision	1.8	2.7	5.5	0.9	4.2	5.5
Net interest income after loan loss provision	76.6	59.5	56.5	67.5	61.1	45.0
Non-interest income	9.6	−11.2	8.1	9.9	8.4	7.8
Non-interest expense	−51.1	−48.6	−43.5	−41.0	−38.6	−34.4
Net income before taxes	35.0	−0.3	21.1	36.4	30.9	18.4
Provision for taxes	7.3	−0.1	4.4	7.2	5.9	3.3
Minority interest & equity in affiliates	–	–	–	–	–	–
Other	0	0	0	0	0	0
Net income before extraordinary items	27.8	−0.2	16.8	29.2	24.9	15.1
Extraordinary items	–	–	–	–	–	–
Net income	27.8	−0.2	16.8	29.2	24.9	15.1
Basic weighted average shares (mil)	9.2	8.1	8.1	8.1	8.2	7.2
Diluted weighted average shares (mil)	9.2	8.1	8.1	8.2	8.2	7.2
Basic EPS excluding extraordinary items	3.01	−0.02	2.08	3.59	3.05	2.09
Basic EPS, normalized	3.11	−0.02	2.08	3.59	3.05	2.33

Balance sheet in millions of USD, fiscal years

Balance sheet, Norwood Financial Corp, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & due from banks	32.1	27.6	28.5	28.8	21.1	19.4
Other earning assets	428	456	451	427	596	323
Net loans	1,834	1,694	1,585	1,457	1,338	1,398
Property, plant & equipment	23.0	19.7	17.8	17.9	17.3	17.8
Goodwill	29.3	29.3	29.3	29.3	29.3	29.3
Intangibles	0.3	0.4	0.4	0.5	0.4	0.5
Long-term investments	–	–	–	–	–	–
Other long-term assets	14.7	17.7	21.4	23.5	–	–
Other assets	64.2	73.1	67.9	62.7	65.7	64.4
Total assets	2,425	2,317	2,201	2,047	2,069	1,852
Liabilities
Accounts payable	12.1	12.6	10.5	2.7	1.2	1.6
Payable/accrued	–	–	–	–	–	–
Accrued expenses	–	–	–	–	–	–
Total deposits	2,079	1,859	1,795	1,728	1,757	1,535
Other bearing liabilities	74.1	159	114	82.3	30.0	42.5
Short-term borrowings	0	56.3	84.1	51.0	60.8	63.3
Current portion of long-term debt	–	–	–	–	–	–
Long-term debt	0	0	0	0	0	0
Minority interest	–	–	–	–	–	–
Other liabilities	17.8	17.3	16.0	16.4	14.4	14.3
Total liabilities	2,183	2,104	2,020	1,880	1,863	1,657
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	1.0	0.9	0.8	0.8	0.8	0.8
Additional paid-in capital	127	98.5	97.7	96.9	96.4	95.4
Retained earnings (accumulated deficit)	141	153	135	130	110	93.8
Treasury stock	−6.0	−5.8	−5.4	−3.3	−1.8	−0.3
Other equity	−21.3	−33.1	−47.3	−57.4	−0.3	5.1
Total equity	242	214	181	167	205	195
Total liabilities & shareholders' equity	2,425	2,317	2,201	2,047	2,069	1,852

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Norwood Financial Corp, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	27.8	−0.2	16.8	29.2	24.9	15.1
Depreciation, depletion & amortization	1.5	1.4	1.5	1.6	1.6	1.4
Deferred taxes	−0.1	−0.1	0.6	0.4	−0.4	0.8
Non-cash items	−0.2	0.9	1.4	0.3	1.2	1.1
Changes in working capital	5.0	20.8	9.7	−0.8	1.8	−4.6
Cash from operations	34.0	22.8	29.8	30.7	29.2	13.8
Investing activities
Capital expenditures	−4.7	−3.1	−1.4	−2.2	−1.3	−0.7
Other investing cash flows	−124	−112	−115	−206	−130	−60.6
Cash from investing	−129	−115	−117	−208	−131	−61.4
Financing activities
Financing cash flow items	177	41.6	152	−19.1	209	150
Cash dividends paid	−11.5	−9.7	−9.4	−9.2	−8.5	−7.3
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−98.5	66.8	−21.3	30.7	−3.4	1.3
Cash from financing	67.1	98.6	121	2.4	197	144
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	−27.9	6.2	34.3	−175	95.0	96.3
Free cash flow	29.2	19.7	28.4	28.6	27.9	13.0

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.