Finward Bancorp

FNWD · NASDAQ

$42.43+$0.82 (+1.97%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $41.61

FNWD analyst rating

BuyConsensus of 1 analyst over the last 12 months. 100% rate it a buy.

Strong buy0
Buy1
Hold0
Underperform0
Sell0

12-month price target · 4 analysts

Average $39.27 (−7.4% downside)

Low: $36.36
Now: $42.43
High: $43.05

Upgrades and downgrades

The latest rating actions, newest first

FNWD analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Stephens & Co.	Mar 27, 2026	Initiates	Overweight	$41.00	73%

The case for and against

Updated Oct 23, 2025

Bull case

Finward Bancorp demonstrated a solid financial performance, highlighted by a 10 basis point increase in the tangible common equity (TCE) ratio to 6.3%, indicating robust capital management. The bank experienced a 1.4% annualized growth in average deposits, primarily driven by a rise in interest-bearing deposits, which points to strong customer confidence and effective deposit strategies. Additionally, the expansion of the net interest margin by 16 basis points to 2.95% reflects improved profitability dynamics, facilitated by declining interest-bearing deposit costs, which bolsters the outlook for sustained net interest income growth.

Bear case

Finward Bancorp's average loans experienced a decline of 1.6% annualized quarter-over-quarter and were also 0.5% lower than projected estimates, indicating weakened loan demand and performance. Additionally, the Common Equity Tier 1 (CET1) capital ratio decreased to 11.0% in the first quarter of 2025 from 11.3% in the previous quarter, suggesting potential concerns regarding the bank's capital adequacy. Although nonperforming assets decreased slightly to 69 basis points quarter-over-quarter, the overall downward trend in loan volumes and capital position raises concerns about future financial stability and growth prospects for the institution.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.