Benjamin J. Bochnowski, the President and CEO of Finward Bancorp (NASDAQ:FNWD), recently purchased shares of the company. The $136 million market cap financial institution has seen its stock surge 45% over the past year, with InvestingPro data showing a P/E ratio of 11.4x. According to a recent SEC filing, Bochnowski acquired 233 shares of Finward Bancorp's common stock at an average price of $31.01 per share, amounting to a total transaction value of approximately $7,225. Following this transaction, Bochnowski now directly owns 28,644 shares of the company. This move reflects Bochnowski's continued investment in the company, as he maintains a significant stake in Finward Bancorp. The company boasts a 27-year track record of consistent dividend payments, with InvestingPro offering additional insights through 8 more key tips for investors.
In other recent news, Finward Bancorp has made significant strides in its financial and governance strategies. The company announced the promotion of Benjamin L. Schmitt to Executive Vice President, Chief Financial Officer, and Treasurer, a move that underlines its commitment to leveraging experienced talent. This promotion is accompanied by a one-time cash bonus of $23,900.
In financial developments, the company declared a dividend of $0.12 per share, a move indicative of its commitment to shareholder value. Stephens, a financial services firm, has raised the price target for Finward Bancorp to $35.00, reflecting confidence in the company's strategy to increase capital and manage expenses effectively.
Finward Bancorp has also made noteworthy changes to its board, appointing three new directors - Martin P. Alwin, Jennifer R. Evans, and Carolyn M. Burke, thereby adding diverse expertise to its governance. These are among the recent developments that showcase the company's strategic financial planning and governance enhancements.
Lastly, Finward Bancorp has included Benjamin L. Schmitt in its Executive Change in Control Severance Plan, waiving the standard three-year employment eligibility requirement. This inclusion ensures Schmitt will receive a severance package if his employment is terminated without cause or if he resigns following a change in control.
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