Symbols / FNWD Stock $31.55 -0.60% Finward Bancorp

Financial Services • Banks - Regional • United States • NCM
FNWD (Stock) Chart
O: — H: — L: — C: — V: —
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Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Financial Services
Industry Banks - Regional
CEO Mr. Benjamin J. Bochnowski
Exch · Country NCM · United States
Market Cap 136.63M
Enterprise Value 108.69M
Income 9.87M
Sales 68.59M
FCF (ttm) —
Book/sh 39.81
Cash/sh 27.42
Employees 296
Insider 10d —
IPO May 20, 1998
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 20.96%
P/E 13.78
Forward P/E 10.13
PEG 1.72
P/S 1.99
P/B 0.79
P/C —
EV/EBITDA —
EV/Sales 1.58
Quick Ratio —
Current Ratio —
Debt/Eq —
LT Debt/Eq —
EPS (ttm) 2.29
EPS next Y 3.12
EPS Growth 3.88%
Revenue Growth 15.50%
EPS Gr Q/Q 3.93%
Rev Gr Q/Q —
Earnings (next) 2026-07-28
Earnings (prior) 2026-04-28
ROA 0.49%
ROE 6.09%
ROIC —
Gross Margin 0.00%
Oper. Margin 17.47%
Profit Margin 14.39%
Shs Outstand 4.33M
Shs Float 3.36M
Insider Own 21.69%
Instit Own 48.74%
Short Float 4.21%
Short Ratio 28.26
Short Interest 158.45K
52W High 39.99
vs 52W High -21.11%
52W Low 26.46
vs 52W Low 19.24%
Beta 0.22
Impl. Vol. —
Rel Volume 2.49
Avg Volume 7.08K
Volume 17.67K
Target (mean) $38.50
Tgt Median $38.50
Tgt Low $36.00
Tgt High $41.00
# Analysts 2
Recom Buy
Prev Close $31.74
Price $31.55
Change -0.60%
About

Finward Bancorp operates as the holding company for Peoples Bank that provides various banking products and services. The company's deposit products include non-interest- and interest-bearing demand accounts, savings accounts, money market deposit accounts, certificate accounts, and retirement savings plans. Its loan portfolio comprises residential mortgage loans that enable borrowers to purchase existing homes, refinance existing homes, or construct new homes; construction loans primarily to individuals and contractors; commercial real estate and multifamily loans; consumer loans to individuals for personal, household, or family purposes; home equity line of credit; home improvement and equity loans; commercial business loans; government loans; and loans to municipalities. The company also offers estate and retirement planning, guardianships, land trusts, profit sharing and 401(k) retirement plans, IRA and Keogh accounts, and investment agency accounts, as well as acts as personal representative of estates, and trustee for revocable and irrevocable trusts. In addition, it provides insurance and annuity investments to wealth management customers; holds security investments and real estate properties; and operates as a real estate investment trust. The company was formerly known as NorthWest Indiana Bancorp and changed its name to Finward Bancorp in March 1994. Finward Bancorp was founded in 1916 and is headquartered in Munster, Indiana.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$38.50
Mean price target
2. Current target
$31.55
Latest analyst target
3. DCF / Fair value
$34.35
Fallback: EPS × 15 (assumed fair P/E). No FCF data; use with …
Ratings
Current target
$31.55
Low
$36.00
High
$41.00
Mean
$38.50

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2025-05-02 main Stephens & Co. Overweight → Overweight $34
2024-09-06 up Hovde Group Market Perform → Outperform $31
2022-10-27 main Stephens & Co. — → Overweight $40
2022-07-28 main Stephens & Co. — → Overweight $43
2022-01-13 init Stephens & Co. — → Overweight $56
News
RSS: Latest FNWD news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-03-31 BOCHNOWSKI BENJAMIN J Chief Executive Officer — 6 $36.50 $223
2026-03-31 SCHEUB TODD M Officer — 38 $36.50 $1,398
2026-03-31 LOWRY ROBERT T Officer — 49 $36.50 $1,817
2026-02-25 LOWRY ROBERT T Officer — 369 $36.60 $13,505
2026-02-25 BOCHNOWSKI BENJAMIN J Chief Executive Officer — 697 $36.60 $25,510
2026-02-25 SCHEUB TODD M Officer — 529 $36.60 $19,361
2026-02-25 SCHMITT BENJAMIN LOUIS Chief Financial Officer — 419 $36.60 $15,335
2025-12-30 BOCHNOWSKI BENJAMIN J Chief Executive Officer — 6 $35.56 $222
2025-12-30 SCHEUB TODD M Officer — 39 $35.56 $1,393
2025-12-30 LOWRY ROBERT T Officer — 50 $35.56 $1,811
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
66.04
-7.11%
71.09
+8.87%
65.30
-16.98%
78.66
Operating Revenue
66.04
-7.11%
71.09
+8.87%
65.30
-16.98%
78.66
Selling General And Administration
32.09
+5.83%
30.33
-0.56%
30.50
-5.06%
32.12
Selling And Marketing Expense
0.79
-1.50%
0.80
-4.88%
0.84
-55.95%
1.91
General And Administrative Expense
31.31
+6.03%
29.53
-0.44%
29.66
-1.85%
30.22
Salaries And Wages
29.59
+6.67%
27.74
+0.30%
27.66
-4.61%
28.99
Other Gand A
—
—
—
—
Reconciled Depreciation
6.19
-15.09%
7.29
+1.79%
7.16
+20.02%
5.97
Total Unusual Items
-0.06
-100.47%
11.66
+4333.84%
0.26
+117.31%
-1.52
Total Unusual Items Excluding Goodwill
-0.06
-100.47%
11.66
+4333.84%
0.26
+117.31%
-1.52
Special Income Charges
—
—
0.28
+117.98%
-1.53
Other Special Charges
—
—
-0.28
-191.09%
0.30
Write Off
—
—
0.00
-100.00%
1.23
Net Income
8.09
-33.33%
12.13
+44.75%
8.38
-44.43%
15.08
Pretax Income
8.11
-39.73%
13.46
+67.25%
8.04
-51.41%
16.56
Net Interest Income
56.74
+17.12%
48.45
-11.20%
54.55
-18.76%
67.15
Interest Expense
35.02
-14.02%
40.73
+30.43%
31.23
+539.13%
4.89
Interest Income
91.76
+2.90%
89.18
+3.96%
85.78
+19.09%
72.03
Gain On Sale Of Security
-1.49
-310.92%
0.70
+1568.75%
-0.05
-107.25%
0.66
Tax Provision
0.02
-98.26%
1.32
+495.52%
-0.34
-122.67%
1.48
Tax Rate For Calcs
0.00
-96.94%
0.00
-53.33%
0.00
+135.96%
0.00
Tax Effect Of Unusual Items
-0.00
-100.01%
1.14
+1969.13%
0.06
+140.85%
-0.14
Net Income Including Noncontrolling Interests
8.09
-33.33%
12.13
+44.75%
8.38
-44.43%
15.08
Net Income From Continuing Operation Net Minority Interest
8.09
-33.33%
12.13
+44.75%
8.38
-44.43%
15.08
Net Income From Continuing And Discontinued Operation
8.09
-33.33%
12.13
+44.75%
8.38
-44.43%
15.08
Net Income Continuous Operations
8.09
-33.33%
12.13
+44.75%
8.38
-44.43%
15.08
Normalized Income
8.14
+405.15%
1.61
-80.28%
8.17
-50.36%
16.46
Net Income Common Stockholders
8.09
-33.33%
12.13
+44.75%
8.38
-44.43%
15.08
Diluted EPS
1.88
-33.80%
2.84
+44.90%
1.96
-45.56%
3.60
Basic EPS
1.89
-33.68%
2.85
+45.41%
1.96
-45.71%
3.61
Basic Average Shares
4.27
+0.28%
4.26
-0.37%
4.28
+2.35%
4.18
Diluted Average Shares
4.29
+0.41%
4.27
-0.02%
4.28
+2.07%
4.19
Diluted NI Availto Com Stockholders
8.09
-33.33%
12.13
+44.75%
8.38
-44.43%
15.08
Insurance And Claims
1.72
-3.91%
1.79
-10.63%
2.00
+63.11%
1.23
Occupancy And Equipment
8.16
-1.08%
8.25
+29.27%
6.38
-5.94%
6.79
Other Non Interest Expense
13.65
-3.58%
14.16
+0.63%
14.07
-31.17%
20.44
Professional Expense And Contract Services Expense
4.23
-21.81%
5.41
+26.31%
4.28
+253.34%
1.21
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
2,021.18
-1.92%
2,060.70
-2.26%
2,108.28
+1.83%
2,070.34
Cash And Cash Equivalents
119.65
+71.10%
69.93
-18.30%
85.59
+154.49%
33.63
Cash Financial
18.27
+2.14%
17.88
-0.33%
17.94
-10.13%
19.96
Other Short Term Investments
0.73
-89.69%
7.05
-98.10%
371.37
+0.13%
370.90
Receivables
7.78
+0.78%
7.72
-4.03%
8.04
+8.41%
7.42
Accounts Receivable
7.78
+0.78%
7.72
-4.03%
8.04
+8.41%
7.42
Net PPE
44.98
-4.83%
47.26
+22.96%
38.44
-4.42%
40.21
Gross PPE
81.48
+0.67%
80.93
+10.92%
72.97
+1.40%
71.96
Accumulated Depreciation
-36.50
-8.39%
-33.67
+2.48%
-34.53
-8.77%
-31.75
Land And Improvements
9.07
+0.00%
9.07
-22.99%
11.77
+0.00%
11.77
Buildings And Improvements
34.85
-0.07%
34.88
-15.46%
41.25
+1.22%
40.75
Machinery Furniture Equipment
20.88
+2.80%
20.31
+4.69%
19.40
-0.17%
19.43
Other Properties
16.68
+0.00%
16.68
+2977.86%
0.54
—
Goodwill And Other Intangible Assets
23.57
-2.84%
24.25
-5.50%
25.67
-5.60%
27.19
Goodwill
22.39
+0.00%
22.39
+0.00%
22.39
+0.00%
22.39
Other Intangible Assets
1.17
-36.99%
1.86
-43.15%
3.27
-31.75%
4.79
Investments And Advances
0.73
-89.69%
7.05
-98.10%
371.37
+0.13%
370.90
Total Liabilities Net Minority Interest
1,846.52
-3.29%
1,909.29
-2.63%
1,960.93
+1.40%
1,933.95
Payables And Accrued Expenses
—
—
—
23.43
Current Accrued Expenses
—
—
—
23.43
Long Term Debt And Capital Lease Obligation
45.00
-30.77%
65.00
-18.75%
80.00
-33.33%
120.00
Long Term Debt
45.00
-30.77%
65.00
-18.75%
80.00
-33.33%
120.00
Stockholders Equity
174.66
+15.35%
151.41
+2.76%
147.34
+8.03%
136.39
Common Stock Equity
174.66
+15.35%
151.41
+2.76%
147.34
+8.03%
136.39
Capital Stock
0.00
0.00
0.00
0.00
Preferred Stock
0.00
0.00
0.00
0.00
Share Issued
4.33
+0.30%
4.31
+0.35%
4.30
+0.01%
4.30
Ordinary Shares Number
4.33
+0.30%
4.31
+0.35%
4.30
+0.01%
4.30
Additional Paid In Capital
70.33
+0.42%
70.03
+0.69%
69.56
+0.76%
69.03
Retained Earnings
145.99
+4.68%
139.46
+7.77%
129.40
-1.72%
131.66
Gains Losses Not Affecting Retained Earnings
-41.66
+28.27%
-58.08
-12.54%
-51.61
+19.73%
-64.30
Other Equity Adjustments
-41.66
+28.27%
-58.08
-12.54%
-51.61
+19.73%
-64.30
Total Equity Gross Minority Interest
174.66
+15.35%
151.41
+2.76%
147.34
+8.03%
136.39
Total Capitalization
219.66
+1.50%
216.41
-4.81%
227.34
-11.33%
256.39
Invested Capital
219.66
+1.50%
216.41
-4.81%
227.34
-11.33%
256.39
Total Debt
45.00
-30.77%
65.00
-18.75%
80.00
-33.33%
120.00
Net Debt
—
—
—
86.37
Net Tangible Assets
151.10
+18.82%
127.16
+4.50%
121.68
+11.42%
109.20
Tangible Book Value
151.10
+18.82%
127.16
+4.50%
121.68
+11.42%
109.20
Cash Cash Equivalents And Federal Funds Sold
119.65
+69.51%
70.58
-17.93%
86.01
+154.93%
33.74
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
9.90
+0.98%
9.80
-59.50%
24.21
+36.55%
17.73
Cash Flow From Continuing Operating Activities
9.90
+0.98%
9.80
-59.50%
24.21
+36.55%
17.73
Net Income From Continuing Operations
8.09
-33.33%
12.13
+44.75%
8.38
-44.43%
15.08
Depreciation Amortization Depletion
6.19
-15.09%
7.29
+1.79%
7.16
+20.02%
5.97
Depreciation
—
—
—
5.97
Depreciation And Amortization
6.19
-15.09%
7.29
+1.79%
7.16
+20.02%
5.97
Other Non Cash Items
-1.58
+20.78%
-2.00
-237.16%
1.46
-63.10%
3.95
Stock Based Compensation
0.45
-20.88%
0.56
-21.42%
0.72
-2.97%
0.74
Asset Impairment Charge
—
—
0.00
-100.00%
1.23
Deferred Tax
-0.56
-186.20%
0.65
+195.84%
-0.67
-156.70%
1.19
Deferred Income Tax
-0.56
-186.20%
0.65
+195.84%
-0.67
-156.70%
1.19
Operating Gains Losses
0.32
+102.39%
-13.50
-931.63%
-1.31
+24.20%
-1.73
Gain Loss On Investment Securities
1.49
+310.92%
-0.70
-1568.75%
0.05
+107.25%
-0.66
Gain Loss On Sale Of PPE
0.06
+100.47%
-11.66
-4125.00%
-0.28
-191.09%
0.30
Change In Working Capital
-2.80
-154.15%
5.18
-19.72%
6.45
+174.16%
-8.70
Change In Receivables
-0.06
-118.52%
0.32
+151.92%
-0.62
-342.55%
-0.14
Changes In Account Receivables
-0.06
-118.52%
0.32
+151.92%
-0.62
-342.55%
-0.14
Change In Payables And Accrued Expense
-6.17
-556.29%
1.35
-66.80%
4.07
+217.15%
-3.48
Change In Accrued Expense
-5.83
-253.59%
3.80
+182.73%
1.34
+138.64%
-3.48
Change In Payable
-0.34
+86.22%
-2.44
-189.59%
2.73
—
Change In Account Payable
-0.34
+86.22%
-2.44
-189.59%
2.73
—
Change In Other Current Assets
3.42
-2.20%
3.50
+16.66%
3.00
+159.09%
-5.08
Investing Cash Flow
94.88
+121.73%
42.79
+184.86%
15.02
+1428.12%
-1.13
Cash Flow From Continuing Investing Activities
94.88
+121.73%
42.79
+184.86%
15.02
+1428.12%
-1.13
Net PPE Purchase And Sale
-0.03
-100.23%
14.60
+4284.24%
-0.35
+71.70%
-1.23
Purchase Of PPE
-0.85
+72.25%
-3.07
-167.77%
-1.15
+62.12%
-3.03
Sale Of PPE
0.82
-95.37%
17.68
+2112.39%
0.80
-55.56%
1.80
Capital Expenditure
-0.85
+72.25%
-3.07
-167.77%
-1.15
+62.12%
-3.03
Net Investment Purchase And Sale
35.95
+31.44%
27.35
+86.24%
14.69
-77.43%
65.06
Purchase Of Investment
—
0.00
+100.00%
-0.12
+99.60%
-30.42
Sale Of Investment
35.95
+31.44%
27.35
+84.70%
14.81
-84.49%
95.48
Net Business Purchase And Sale
—
—
0.00
-100.00%
33.80
Net Other Investing Changes
1.31
+1715.28%
0.07
-6.49%
0.08
+104.84%
-1.59
Financing Cash Flow
-55.72
+18.09%
-68.02
-539.00%
15.49
+183.78%
-18.49
Cash Flow From Continuing Financing Activities
-55.72
+18.09%
-68.02
-539.00%
15.49
+183.78%
-18.49
Net Issuance Payments Of Debt
-20.00
-33.33%
-15.00
+62.50%
-40.00
-133.33%
120.00
Issuance Of Debt
40.00
-73.33%
150.00
+87.50%
80.00
-33.33%
120.00
Repayment Of Debt
-60.00
+63.64%
-165.00
-37.50%
-120.00
0.00
Long Term Debt Issuance
40.00
-73.33%
150.00
+87.50%
80.00
-33.33%
120.00
Long Term Debt Payments
-60.00
+63.64%
-165.00
-37.50%
-120.00
0.00
Net Long Term Debt Issuance
-20.00
-33.33%
-15.00
+62.50%
-40.00
-133.33%
120.00
Common Stock Dividend Paid
-1.56
+24.75%
-2.07
+61.22%
-5.33
-5.12%
-5.08
Cash Dividends Paid
-1.56
+24.75%
-2.07
+61.22%
-5.33
-5.12%
-5.08
Proceeds From Stock Option Exercised
-0.15
-74.42%
-0.09
+56.12%
-0.20
-63.33%
-0.12
Net Other Financing Charges
—
—
—
0.92
Changes In Cash
49.06
+418.10%
-15.42
-128.18%
54.73
+2989.44%
-1.89
Beginning Cash Position
70.58
-17.93%
86.01
+174.94%
31.28
-5.71%
33.18
End Cash Position
119.65
+69.51%
70.58
-17.93%
86.01
+174.94%
31.28
Free Cash Flow
9.05
+34.42%
6.73
-70.81%
23.06
+56.90%
14.70
Interest Paid Supplemental Data
35.30
-18.24%
43.18
+51.35%
28.53
+523.97%
4.57
Income Tax Paid Supplemental Data
0.15
-63.86%
0.41
+72.20%
0.24
-82.11%
1.35
Sale Of Business
—
—
0.00
-100.00%
33.80
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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