Finward Bancorp (FNWD)
NASDAQ:FNWD
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Finward Bancorp
(NASDAQ:FNWD)
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Rating:58Neutral
Price Target:
$38.00
▲(0.00% Upside)
Action:DowngradedDate:03/26/26
FNWD scores as neutral overall, driven primarily by mixed financial performance: improved leverage and positive cash flow are outweighed by the 2025 revenue drop, margin compression, and weaker returns. Technicals are largely range-bound/neutral, while valuation is moderately supportive due to a reasonable P/E and very high dividend yield.
Positive Factors
Improved Leverage
A materially lower debt-to-equity ratio enhances balance-sheet resilience and reduces funding risk. Sustained lower leverage increases capital flexibility for lending, cushions credit shocks, and supports strategic actions without relying on costly wholesale funding over the medium term.
Negative Factors
Revenue Decline
A marked drop in revenue undermines top-line momentum and limits scale benefits. Over several quarters, lower revenue constrains investment in growth, compresses margins through fixed-cost absorption, and reduces the bank's ability to rebuild earnings sustainably.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved Leverage
A materially lower debt-to-equity ratio enhances balance-sheet resilience and reduces funding risk. Sustained lower leverage increases capital flexibility for lending, cushions credit shocks, and supports strategic actions without relying on costly wholesale funding over the medium term.
Read all positive factors
Finward Bancorp (FNWD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$157.20M
Dividend Yield0.97%
Average Volume (3M)34.79K
Price to Earnings (P/E)18.9
Beta (1Y)0.05
Revenue Growth-7.20%
EPS Growth-29.17%
CountryUS
Employees293
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)0.46
Shares Outstanding4,330,486
10 Day Avg. Volume17,730
30 Day Avg. Volume34,794
Financial Highlights & Ratios
PEG Ratio-0.56
Price to Book (P/B)0.86
Price to Sales (P/S)1.49
P/FCF Ratio19.65
Enterprise Value/Market Cap1.42
Enterprise Value/Revenue2.21
Enterprise Value/Gross Profit3.38
Enterprise Value/Ebitda17.48
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)2.65
Revenue Forecast (FY)$76.25M
Finward Bancorp Business Overview & Revenue Model
Company Description
Finward Bancorp (FNWD) is a financial holding company that operates primarily through its wholly-owned subsidiary, First Federal Savings Bank. The company provides a range of banking and financial services, including personal and business banking,...
How the Company Makes Money
Finward Bancorp makes money primarily through its banking subsidiary by (1) earning net interest income and (2) generating noninterest income. Net interest income is the spread between interest earned on interest-earning assets (mainly loans and, ...
Finward Bancorp Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
58
Neutral
Cash Flow
52
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 101.06M | 111.83M | 96.53M | 83.54M | 66.60M |
| Gross Profit | 66.25M | 71.60M | 63.28M | 78.66M | 63.01M |
| EBITDA | 8.11M | 20.75M | 15.21M | 22.53M | 20.94M |
| Net Income | 8.09M | 12.13M | 8.38M | 15.08M | 14.96M |
Balance Sheet | |||||
| Total Assets | 2.02B | 2.06B | 2.11B | 2.07B | 1.62B |
| Cash, Cash Equivalents and Short-Term Investments | 334.49M | 404.14M | 457.38M | 404.53M | 560.07M |
| Total Debt | 84.70M | 105.12M | 118.12M | 135.50M | 14.58M |
| Total Liabilities | 1.85B | 1.91B | 1.96B | 1.93B | 1.46B |
| Stockholders Equity | 174.66M | 151.41M | 147.34M | 136.39M | 156.62M |
Cash Flow | |||||
| Free Cash Flow | 7.65M | 6.73M | 23.06M | 14.70M | 13.91M |
| Operating Cash Flow | 9.90M | 9.80M | 24.21M | 17.73M | 17.04M |
| Investing Cash Flow | 94.88M | 42.79M | 15.02M | -1.13M | -125.93M |
| Financing Cash Flow | -55.72M | -68.02M | 15.49M | -18.49M | 122.14M |
Finward Bancorp Technical Analysis
Neutral
38.00
Price Trends
36.95
Negative
36.59
Negative
33.31
Positive
Market Momentum
-0.14
Positive
46.24
Neutral
19.35
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FNWD, the sentiment is Neutral. The current price of 38 is above the 20-day moving average (MA) of 36.97, above the 50-day MA of 36.95, and above the 200-day MA of 33.31, indicating a neutral trend. The MACD of -0.14 indicates Positive momentum. The RSI at 46.24 is Neutral, neither overbought nor oversold. The STOCH value of 19.35 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for FNWD.
Finward Bancorp Risk Analysis
Finward Bancorp disclosed 33 risk factors in its most recent earnings report. Finward Bancorp reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Finward Bancorp Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $163.93M | 10.47 | 8.06% | 2.93% | 6.10% | 59.32% | |
68 Neutral | $171.78M | 12.98 | 7.66% | ― | 22.30% | ― | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
58 Neutral | $157.20M | 18.95 | 5.01% | 0.97% | -7.20% | -29.17% | |
50 Neutral | $155.88M | -11.07 | -4.00% | 7.74% | -8.73% | -95.86% | |
47 Neutral | $124.67M | -1.34 | -23.30% | 0.84% | 1.33% | -593.24% |
* Financial Sector Average
FNWD
Finward Bancorp
36.30
7.60
26.50%
BCBP
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8.98
-0.27
-2.96%
EBMT
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FGBI
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5.65%
RBKB
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ECBK
ECB Bancorp, Inc.
16.73
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8.50%
Finward Bancorp Corporate Events
DividendsRegulatory Filings and Compliance
Finward Bancorp Declares Quarterly Cash Dividend Amid Oversight
Neutral
Mar 2, 2026
On March 2, 2026, Finward Bancorp’s board declared a cash dividend of $0.12 per share on its common stock, to be paid on March 31, 2026, to shareholders of record as of March 16, 2026. The move underscores the holding company’s intent ...
Business Operations and StrategyExecutive/Board Changes
Finward Bancorp Announces Director Changes and Board Realignment
Neutral
Feb 24, 2026
On February 18, 2026, Finward Bancorp director Danette Garza informed the board she would not stand for re-election as a Class II director and would retire from the boards of both the Bancorp and its subsidiary Peoples Bank at the conclusion of th...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.