What is the 13F Pro Quality Score for FNWD?

13F Pro ranks Finward Bancorp (FNWD) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View FNWD's current score at https://13fpro.ai/research/FNWD (free sign-up required for the full ranking).

Where does 13F Pro source FNWD data?

All Finward Bancorp fundamentals and ownership data come directly from SEC EDGAR. Finward Bancorp files with the SEC under CIK 919864. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is FNWD in?

Finward Bancorp (FNWD) is classified in the Financials sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/financials.

How often is FNWD research updated on 13F Pro?

FNWD's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Finward Bancorp(FNWD)Stock Analysis

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13F Pro Quality Score

Not in ranked universe

Pending next ranking run

This company passes all size and coverage filters but hasn't been included in the latest quarterly ranking run. Rankings refresh on Jan 1, Apr 1, Jul 1, Oct 1.

Financial data, filings, and institutional holdings below are still tracked in full — only the proprietary quality composite is unavailable for this name.

FNWD Stock Analysis & AI Quality Score

AI stock analysis and institutional research for Finward Bancorp (FNWD), a Financials sector company. FNWD is not currently included in 13F Pro's AI-ranked quality universe — this company passes all size and coverage filters but hasn't been included in the latest quarterly ranking run. rankings refresh on jan 1, apr 1, jul 1, oct 1. Based on the latest XBRL financial filings (Q1 2026), Finward Bancorp reports quarterly revenue of $17.5M, net income of $2.2M, an operating margin of 15.2%. Top institutional holders of FNWD by reported 13-F value include ALLIANCEBERNSTEIN L.P., PL Capital Advisors,, VANGUARD CAPITAL MANAGEMENT, based on the most recent SEC filings. FNWD trades on the Nasdaq exchange and files with the SEC under CIK 919864. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate FNWD daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Finward Bancorp directly from SEC EDGAR.

Revenue

Q1 2026

$17.5M

Net Income

Q1 2026

$2.2M

Free Cash Flow

Q1 2026

$3.5M

Operating Margin

Q1 2026

15.2%

ROIC

Q1 2026

1.6%

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Net Income

+44.7% YoY

$12.1MFY 2024

FY21 $15.0MFY22 $15.1MFY23 $8.4MFY24 $12.1M

EPS (Diluted)

+44.9% YoY

$2.84FY 2024

FY21 $4.30FY22 $3.60FY23 $1.96FY24 $2.84

Total Assets

-2.3% YoY

$2.06BFY 2024

FY21 $1.62BFY22 $2.07BFY23 $2.11BFY24 $2.06B

Total Debt

-18.8% YoY

$65.0MFY 2024

FY21 —FY22 —FY23 $80.0MFY24 $65.0M

Op. Cash Flow

-59.5% YoY

$9.8MFY 2024

FY21 $17.0MFY22 $17.7MFY23 $24.2MFY24 $9.8M

Metric	FY 2024	FY 2023	FY 2022	FY 2021	FY 2019	FY 2018
Net Income	$12.1M +44.7%	$8.4M -44.4%	$15.1M +0.8%	$15.0M +23.7%	$12.1M +29.6%	$9.3M
EPS (Diluted)	$2.84 +44.9%	$1.96 -45.6%	$3.60 -16.3%	$4.30 +21.8%	$3.53 +11.4%	$3.17
Total Assets	$2.06B -2.3%	$2.11B +1.8%	$2.07B +27.7%	$1.62B +22.0%	$1.33B +21.2%	$1.10B
Total Debt	$65.0M -18.8%	$80.0M	—	—	—	—
Operating Cash Flow	$9.8M -59.5%	$24.2M +36.6%	$17.7M +4.0%	$17.0M +55.5%	$11.0M +4.0%	$10.5M

AI Insight: FNWD Financial Trends

Net income stabilized in low single digits while equity grew 15% and debt rose 165% over eight quarters.

• Net income oscillated between $0M–$3M; Q3 2025 peaked at $3M, then declined to $2M in Q4 2025 and Q1 2026.

• Equity increased from $149M (Q2 2024) to $172M (Q1 2026), a 15% gain over two years.

• Total debt rose from $65M (Q4 2024) to $175M (Q4 2025), a 169% increase in one year.

• Operating cash flow remained volatile, ranging from –$4M to +$11M; Q1 2026 recorded +$4M.

⚠ Debt-to-equity ratio expanded sharply from 0.43x (Q4 2024) to 1.02x (Q1 2026)—leverage approaching 1:1.

⚠ Operating cash flow erratic and weak relative to net income; Q1 2025 and Q3 2024 turned negative.

AI Insight: FNWD Ratio Trends

FNWD's trailing twelve-month returns have recovered to mid-5% range after volatile quarterly swings, with Q3 2025 marking a 8.5% ROE peak.

• ROE and ROIC improved from Q2 2024 lows (0.4% and 0.4%) to TTM levels of 5.7% and 5.9%, respectively.

• Q3 2025 showed strongest returns: ROE 8.5%, ROIC 8.6%, and ROA 0.7% — best quarterly performance in dataset.

• Leverage stable; D/E ratio ranged 0.37–0.43 across periods with disclosed data.

⚠ Severe quarterly volatility persists: ROE swung 8.5% (Q3 2025) to 1.2% (Q1 2025), indicating earnings instability.

⚠ Q4 2025 contraction: ROE fell to 4.5%, ROIC to 4.2% after Q3 peak — magnitude of reversal warrants monitoring.

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Available Research

13F Pro tracks comprehensive data for Finward Bancorp including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of FNWD

ALLIANCEBERNSTEIN L.P.
$14.6M413,735 sh
PL Capital Advisors, LLC
$14.4M395,716 sh
VANGUARD CAPITAL MANAGEMENT LLC
$5.9M162,302 sh
BlackRock, Inc.
$5.8M160,243 sh
Finward Bancorp
$4.8M131,560 sh
ENDEAVOUR CAPITAL ADVISORS INC
$3.6M99,543 sh
GEODE CAPITAL MANAGEMENT, LLC
$2.9M80,650 sh
WELLINGTON MANAGEMENT GROUP LLP
$2.0M55,210 sh
GOLDMAN SACHS GROUP INC
$2.0M54,417 sh
STATE STREET CORP
$1.8M49,766 sh

Fund	Value	Shares
ALLIANCEBERNSTEIN L.P.	$14.6M	413,735
PL Capital Advisors, LLC	$14.4M	395,716
VANGUARD CAPITAL MANAGEMENT LLC	$5.9M	162,302
BlackRock, Inc.	$5.8M	160,243
Finward Bancorp	$4.8M	131,560
ENDEAVOUR CAPITAL ADVISORS INC	$3.6M	99,543
GEODE CAPITAL MANAGEMENT, LLC	$2.9M	80,650
WELLINGTON MANAGEMENT GROUP LLP	$2.0M	55,210
GOLDMAN SACHS GROUP INC	$2.0M	54,417
STATE STREET CORP	$1.8M	49,766

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Is FNWD a good stock to buy?

13F Pro's AI-powered analysis of Finward Bancorp (FNWD) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Financials sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for FNWD are available on the FNWD stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own FNWD?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling FNWD. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Finward Bancorp's investment landscape.