Finward Bancorp (FNWD)
NASDAQ:FNWD
Want to see FNWD full AI Analyst Report?
Top Page
Finward Bancorp
(NASDAQ:FNWD)
Select Model
Select Model
Rating:62Neutral
Price Target:
$34.00
▼(-10.53% Downside)
Action:Reiterated
Date:05/27/26
FNWD scores strongest on improving financial performance (reaccelerating revenue, better margins, and much stronger free cash flow), which drives the overall result. The score is held back by weaker technical momentum (below key moving averages with a negative MACD) and only moderate income support from the dividend; corporate events are a modest positive but not a major driver.
Positive Factors
Strong free cash flow
Material free cash flow improvement (TTM FCF up 88.2% and FCF closely tracking net income) signals durable cash generation. That boosts capacity to fund loan growth, absorb credit stress, support investment in operations, and strengthen capital without relying on external financing.
Negative Factors
Volatile historical performance
Material year-to-year volatility (including a 2025 revenue decline) undermines predictability of earnings and capital generation. For a regional bank, this makes planning for loan growth, provisioning, and dividend policy harder and raises execution risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong free cash flow
Material free cash flow improvement (TTM FCF up 88.2% and FCF closely tracking net income) signals durable cash generation. That boosts capacity to fund loan growth, absorb credit stress, support investment in operations, and strengthen capital without relying on external financing.
Read all positive factors
Finward Bancorp (FNWD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$148.04M
Dividend Yield0.97%
Average Volume (3M)34.79K
Price to Earnings (P/E)14.8
Beta (1Y)0.05
Revenue Growth0.68%
EPS Growth199.51%
CountryUS
Employees293
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)2.30
Shares Outstanding4,329,971
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 Ratio16.61
Enterprise Value/Market Cap0.80
Enterprise Value/Revenue1.16
Enterprise Value/Gross Profit1.72
Enterprise Value/Ebitda7.34
Forecast
1Y Price Target
$41.00Price Target Upside7.89% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)2.7
Revenue Forecast (FY)$76.75M
Finward Bancorp Business Overview & Revenue Model
Company Description
Finward Bancorp serves as the parent entity for Peoples Bank, a financial institution offering a comprehensive suite of banking products and services. Its deposit offerings include various checking accounts, both with and without interest, alongsi...
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
62
Positive
Balance Sheet
68
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 101.63M | 101.06M | 111.83M | 96.53M | 83.54M | 66.60M |
| Gross Profit | 68.59M | 66.25M | 71.60M | 63.28M | 78.66M | 63.01M |
| EBITDA | 16.07M | 14.30M | 20.75M | 15.21M | 22.53M | 20.94M |
| Net Income | 9.87M | 8.09M | 12.13M | 8.38M | 15.08M | 14.96M |
Balance Sheet | ||||||
| Total Assets | 2.02B | 2.02B | 2.06B | 2.11B | 2.07B | 1.62B |
| Cash, Cash Equivalents and Short-Term Investments | 119.54M | 334.49M | 404.14M | 457.38M | 404.53M | 560.07M |
| Total Debt | 90.81M | 84.70M | 105.12M | 118.12M | 135.50M | 14.58M |
| Total Liabilities | 1.84B | 1.85B | 1.91B | 1.96B | 1.93B | 1.46B |
| Stockholders Equity | 172.40M | 174.66M | 151.41M | 147.34M | 136.39M | 156.62M |
Cash Flow | ||||||
| Free Cash Flow | 16.14M | 9.05M | 6.73M | 23.06M | 14.70M | 13.91M |
| Operating Cash Flow | 17.34M | 9.90M | 9.80M | 24.21M | 17.73M | 17.04M |
| Investing Cash Flow | 73.02M | 94.88M | 42.79M | 15.02M | -1.13M | -125.93M |
| Financing Cash Flow | -43.98M | -55.72M | -68.02M | 15.49M | -18.49M | 122.14M |
Finward Bancorp Technical Analysis
Positive
38.00
Price Trends
32.93
Positive
34.78
Negative
34.55
Negative
Market Momentum
0.30
Negative
61.19
Neutral
59.43
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FNWD, the sentiment is Positive. The current price of 38 is above the 20-day moving average (MA) of 32.97, above the 50-day MA of 32.93, and above the 200-day MA of 34.55, indicating a neutral trend. The MACD of 0.30 indicates Negative momentum. The RSI at 61.19 is Neutral, neither overbought nor oversold. The STOCH value of 59.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 | $182.49M | 11.50 | 8.29% | 2.93% | 3.88% | 40.69% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | $196.48M | 19.12 | 7.42% | ― | 36.10% | ― | |
62 Neutral | $148.04M | 14.81 | 5.92% | 0.97% | 0.68% | 199.51% | |
58 Neutral | $192.04M | 273.17 | 0.23% | 7.74% | -15.00% | -146.52% | |
51 Neutral | $174.52M | -3.55 | -20.17% | 0.84% | -6.78% | -2658.21% |
* Financial Sector Average
FNWD
Finward Bancorp
34.19
6.05
21.49%
BCBP
BCB Bancorp
11.06
3.47
45.68%
EBMT
Eagle Bancorp Montana
22.91
7.92
52.87%
FGBI
First Guaranty Bancshares
10.60
2.46
30.17%
RBKB
Rhinebeck Bancorp
17.59
5.95
51.12%
ECBK
ECB Bancorp, Inc.
20.31
5.04
33.01%
Finward Bancorp Corporate Events
Executive/Board ChangesShareholder Meetings
Finward Bancorp Shareholders Back Directors and Governance Agenda
Positive
May 26, 2026
On May 22, 2026, Finward Bancorp held its annual meeting of shareholders virtually, with a quorum represented by 3,284,619 of 4,330,486 eligible common shares as of the March 20, 2026 record date. Shareholders elected directors Benjamin J. Bochnow...
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 ...
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.