Janney Montgomery Scott analyst Daniel Cardenas initiated coverage of Norwood Financial (NWFL) with a Buy rating and $31 fair value estimate. Norwood operates a 29-branch network in “some of the better growth markets” in northern Pennsylvania and southern New York, the analyst tells investors. While pointing out that the bank competes against larger out-of-state players, the firm thinks Norwood’s market share position is “buildable, especially for a nimble, responsive BHC such as Norwood.” The firm is modeling for mid-single-digit growth in 2025, the analyst noted.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
