FINWARD BANCORP FNWD
COM · Common Stock · CUSIP 31812F109
- SectorFinancials
- IndustrySavings Institution, Federally Chartered
- HeadquartersMunster, IN
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($25.1k this quarter). Holder counts are more reliable. Shares outstanding: 4.3m as of 2026-08-07, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $36.68.
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 24 |
| Q4 2022 | 26 |
| Q1 2023 | 22 |
| Q2 2023 | 24 |
| Q3 2023 | 23 |
| Q4 2023 | 26 |
| Q1 2024 | 27 |
| Q2 2024 | 29 |
| Q3 2024 | 33 |
| Q4 2024 | 37 |
| Q1 2025 | 37 |
| Q2 2025 | 49 |
| Q3 2025 | 60 |
| Q4 2025 | 71 |
| Q1 2026 | 77 |
| Q2 2026 | 72 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 12 | 6 |
| Q4 2024 | 13 | 7 |
| Q1 2025 | 13 | 10 |
| Q2 2025 | 31 | 11 |
| Q3 2025 | 33 | 17 |
| Q4 2025 | 41 | 15 |
| Q1 2026 | 27 | 27 |
| Q2 2026 | 34 | 40 |
Biggest buyers
| Elizabeth Park Capital Advisors, Ltd. | New | +57.6k |
| MILLENNIUM MANAGEMENT LLC | New | +36.1k |
| FIFTH THIRD BANCORP | Added | +28.8k |
| RAFFLES ASSOCIATES LP | Added | +26.6k |
| Fourthstone LLC | New | +21.0k |
| JANE STREET GROUP, LLC | New | +15.7k |
| Squarepoint Ops LLC | New | +13.9k |
| Fiduciary Trust Co | Added | +13.6k |
| CITADEL ADVISORS LLC | Added | +10.4k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | New | +9.6k |
Biggest sellers
| BlackRock, Inc. | Reduced | -137.7k |
| GOLDMAN SACHS GROUP INC | Reduced | -44.7k |
| GEODE CAPITAL MANAGEMENT, LLC | Reduced | -38.7k |
| STATE STREET CORP | Reduced | -33.2k |
| NORTHERN TRUST CORP | Reduced | -21.6k |
| VANGUARD PORTFOLIO MANAGEMENT LLC | Sold out | -19.8k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | Sold out | -10.0k |
| Bank of New York Mellon Corp | Sold out | -8.1k |
| Trexquant Investment LP | Sold out | -8.0k |
| MORGAN STANLEY | Reduced | -2.7k |
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| ALLIANCEBERNSTEIN L.P. 13G · institution +2.1 pts · filed 2025-11-14 | 9.3% |
Insider purchases and sales since 1 Apr 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2024 | 4 | $26.5k | 0 | — | — |
| Q1 2025 | 5 | $241.1k | 0 | — | — |
| Q2 2025 | 4 | $28.5k | 1 | $11.6k | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 3 | $3.4k | 0 | — | — |
| Q1 2026 | 3 | $3.4k | 0 | — | — |
| Q2 2026 | 6 | $4.0k | 0 | — | — |
| Q3 2026 | 4 | $3.7k | 0 | — | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-09-25 | Lowry Robert T Executive Vice President · Profit Sharing | Bought | $1.8k42 shares |
| 2026-09-25 | Scheub Todd M. Executive Vice President · Profit Sharing | Bought | $1.4k32 shares |
| 2026-09-25 | Puntillo Anthony Director | Bought | $2345 shares |
| 2026-09-25 | Bochnowski Benjamin J President, CEO, director · Profit Sharing | Bought | $2245 shares |
| 2026-06-30 | Lowry Robert T Executive Vice President · Profit Sharing | Bought | $1.8k51 shares |
| 2026-06-30 | Scheub Todd M. Executive Vice President · Profit Sharing | Bought | $1.4k39 shares |
| 2026-06-30 | Puntillo Anthony Director | Bought | $2337 shares |
| 2026-06-30 | Bochnowski Benjamin J President, CEO, director · Profit Sharing | Bought | $2246 shares |
| 2026-06-30 | Johnson Robert E. III Director | Bought | $1955 shares |
| 2026-06-30 | Han Amy Wong Director | Bought | $1284 shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 417.2k $15.1m | Added +3.5k |
| PL Capital Advisors, LLC 4.05% of their portfolio | 395.7k $14.6m | Unchanged |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 162.1k $6.0m | Reduced -153 |
| Finward Bancorp 3.66% of their portfolio | 131.4k $4.8m | Reduced -200 |
| ENDEAVOUR CAPITAL ADVISORS INC 0.75% of their portfolio | 99.5k $3.7m | Unchanged |
| Elizabeth Park Capital Advisors, Ltd. 1.46% of their portfolio | 57.6k $2.1m | New |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 53.7k $2.0m | Reduced -1.6k |
| RAFFLES ASSOCIATES LP 0.86% of their portfolio | 53.2k $2.0m | Added +26.6k |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 45.3k $1.7m | Added +200 |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 44.9k $1.7m | Added +300 |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 42.0k $1.5m | Reduced -38.7k |
| ACADIAN ASSET MANAGEMENT LLC 0.00% of their portfolio | 41.4k $1.5m | Added +561 |
| Caldwell Trust Co 0.12% of their portfolio | 40.4k $1.5m | Unchanged |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 36.1k $1.3m | New |
| FIFTH THIRD BANCORP 0.00% of their portfolio | 29.8k $1.1m | Added +28.8k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 23.9k $878.1k | Reduced -297 |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 23.8k $875.7k | Added +310 |
| Fiduciary Trust Co 0.01% of their portfolio | 23.3k $858.1k | Added +13.6k |
| BlackRock, Inc. 0.00% of their portfolio | 22.5k $827.7k | Reduced -137.7k |
| Fourthstone LLC 0.55% of their portfolio | 21.0k $771.5k | New |
| PNC Financial Services Group, Inc. 0.00% of their portfolio | 20.0k $736.8k | Reduced -13 |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 19.8k $726.8k | Added +4.0k |
| STATE STREET CORP 0.00% of their portfolio | 16.5k $607.6k | Reduced -33.2k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 16.1k $592.5k | Added +10.4k |
| OLD NATIONAL BANCORP /IN/ 0.01% of their portfolio | 16.0k $588.4k | Unchanged |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 15.7k $577.0k | New |
| Squarepoint Ops LLC 0.00% of their portfolio | 13.9k $512.6k | New |
| Black Maple Capital Management LP 0.30% of their portfolio | 12.2k $448.6k | Reduced -2.5k |
| Mesirow Financial Investment Management, Inc. 0.01% of their portfolio | 10.7k $392.3k | Unchanged |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 10.5k $386.5k | Added +1.3k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 9.7k $356.2k | Reduced -44.7k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio | 9.6k $352.0k | New |
| MORGAN STANLEY 0.00% of their portfolio | 9.4k $347.2k | Reduced -2.7k |
| UBS Group AG 0.00% of their portfolio | 8.9k $327.6k | Reduced -531 |
| NORTHERN TRUST CORP 0.00% of their portfolio | 8.5k $314.1k | Reduced -21.6k |
| Private Advisor Group, LLC 0.00% of their portfolio | 8.4k $308.4k | Unchanged |
| COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio | 8.0k $294.3k | Added +21 |
| Qube Research & Technologies Ltd 0.00% of their portfolio | 7.3k $269.5k | New |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 6.5k $239.7k | Unchanged |
| TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio | 6.3k $231.9k | New |
| Quadrature Capital Ltd 0.00% of their portfolio | 6.3k $231.3k | New |
| Daytona Street Capital LLC 0.16% of their portfolio | 6.0k $215.6k | New |
| Aster Capital Management (DIFC) Ltd 0.05% of their portfolio | 5.9k $217.4k | New |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 1.9k $68.9k | Reduced -600 |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 1.8k $65.1k | Reduced -355 |
| Vanguard Global Advisers, LLC 0.00% of their portfolio | 1.3k $47.4k | Unchanged |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 883 $32.5k | New |
| FEDERATED HERMES, INC. 0.00% of their portfolio | 805 $29.6k | Added +12 |
| State of Alaska, Department of Revenue 0.00% of their portfolio | 579 $21.0k | Unchanged |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 546 $20.0k | Added +246 |
| Trust Co 0.00% of their portfolio | 500 $18.4k | Unchanged |
| Arax Advisory Partners 0.00% of their portfolio | 457 $16.8k | Added +456 |
| Johnson Financial Group, Inc. 0.00% of their portfolio | 311 $11.4k | Unchanged |
| HORIZON BANCORP INC /IN/ 0.00% of their portfolio | 268 $10.0k | Unchanged |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 227 $8.3k | Unchanged |
| FMR LLC 0.00% of their portfolio | 196 $7.2k | Reduced -5 |
| BARCLAYS PLC 0.00% of their portfolio | 133 $4.9k | Reduced -822 |
| Integrated Wealth Concepts LLC 0.00% of their portfolio | 94 $3.5k | New |
| HUNTINGTON NATIONAL BANK 0.00% of their portfolio | 88 $3.2k | Unchanged |
| EverSource Wealth Advisors, LLC 0.00% of their portfolio | 50 $1.8k | Reduced -4 |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 49 $1.8k | Reduced -1.3k |
| IFP Advisors, Inc 0.00% of their portfolio | 48 $1.8k | Added +11 |
| Essential Partners LLC 0.00% of their portfolio | 47 $1.7k | Reduced -213 |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 28 $1.0k | Reduced -790 |
| Allworth Financial LP 0.00% of their portfolio | 24 $883 | Added +11 |
| Capital Advisors, Ltd. LLC 0.00% of their portfolio | 19 $1.0k | Unchanged |
| True Wealth Design, LLC 0.00% of their portfolio | 14 $515 | Unchanged |
| Covestor Ltd 0.00% of their portfolio | 8 $0 | New |
| Farther Finance Advisors, LLC 0.00% of their portfolio | 7 $256 | Added +1 |
| ROTHSCHILD INVESTMENT LLC 0.00% of their portfolio | 5 $184 | Added +3 |
| Fortitude Family Office, LLC 0.00% of their portfolio | 1 $37 | New |
| Basecamp Wealth Advisors LLC 0.00% of their portfolio | 1 $37 | Reduced -1 |