Finward Bancorp

FNWD • NASDAQ

Finward Bancorp is a banks - regional company in the financial services sector on NASDAQ, led by Benjamin J. Bochnowski, with a market cap of $168.5M. As of Q3 2025, 44% of shares are held by 58 institutional investors, with ALLIANCEBERNSTEIN L.P. as the largest holder at 9.33%.

Chief Executive OfficerBenjamin J. Bochnowski

Market Cap$168.5M

Banks - Regional

Financial Services

Employees304.0

Websiteibankpeoples.com

Country

United States of America

Overview

Overview of institutional ownership in FNWD as of Q3 2025 with a market cap of $138.8M

All Institutions

Institutions: 58
Value Held: $60.9M
Shares Held: 1.9M
Avg Position: $1.0M
Median Position: $81.9K

Hedge Funds

Hedge Funds: 5
Value Held: $16.4M
Shares Held: 512.3K
Avg Position: $3.3M
Median Position: $962.7K

Ownership Breakdown

Institutional (non-HF)

32.02%

$44.4M

Hedge Funds

11.85%

$16.4M

Retail & Other

56.13%

$77.9M

Based on market cap of $138.8M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in FNWD as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
ALLIANCEBERNSTEIN L.P. Long Only Manager	Seth Perry Bernstein CEO	$13.0M 0.00% of portfolio	9.33% 403.7K shares	Q4 2021 Held for 3y 11m	$317.45B
PL Capital Advisors, LLC Hedge Fund•Activist	Richard J Lashley Managing Partner	$12.7M 4.44% of portfolio	9.15% 395.7K shares	Q1 2022 Held for 3y 8m	$286.3M
VANGUARD GROUP INC Institution	Salim Ramji CEO	$6.2M 0.00% of portfolio	4.50% 194.6K shares	Q4 2021 Held for 3y 11m	$6.69T
B BlackRock, Inc. Institution	-	$4.9M 0.00% of portfolio	3.52% 152.2K shares	Q4 2021 Held for 3y 11m	$5.67T
Finward Bancorp Institution	Benjamin J. Bochnowski CEO	$4.4M 3.34% of portfolio	3.16% 136.8K shares	Q4 2024 Held for 11 months	$131.6M
ENDEAVOUR CAPITAL ADVISORS INC Private Equity	Aaron Samuel Richmond Managing Partner	$3.2M 0.96% of portfolio	2.30% 99.5K shares	Q4 2021 Held for 3y 11m	$331.5M
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$2.6M 0.00% of portfolio	1.88% 81.2K shares	Q1 2022 Held for 3y 8m	$1.57T
WELLINGTON MANAGEMENT CO LLP Long Only Manager	Jean Marie Hynes CEO	$1.6M 0.00% of portfolio	1.15% 49.8K shares	Q3 2025 Held for 2 months	$571.21B
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	Peter Fitzhugh Brown CEO	$1.6M 0.00% of portfolio	1.13% 49.1K shares	Q4 2023 Held for 1y 11m	$75.8B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$1.5M 0.00% of portfolio	1.05% 45.6K shares	Q1 2022 Held for 3y 8m	$2.88T

Net Capital Flow

Institutional buying and selling activity for FNWD in Q3 2025

Traded: +$4.6M
Buyers: 33
Sellers: 16
Total Bought: +$7.5M
Total Sold: −$2.8M
Avg Position: $966.4K

Biggest Buyers

Institution	Net Bought	Current Position
ALLIANCEBERNSTEIN L.P. Long Only Manager	+$1.6M +51.0K shares	$13.0M 403.7K shares
WELLINGTON MANAGEMENT CO LLP Long Only Manager	+$1.6M +49.8K shares	$1.6M 49.8K shares
ACADIAN ASSET MANAGEMENT LLC Long Only Manager	+$1.1M +33.1K shares	$1.1M 33.1K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	+$974.8K +30.4K shares	$1.6M 49.1K shares
B BlackRock, Inc. Institution	+$687.5K +21.4K shares	$4.9M 152.2K shares
STATE STREET CORP Institution	+$385.6K +12.0K shares	$1.5M 45.6K shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$350.8K +10.9K shares	$350.8K 10.9K shares
Bank of New York Mellon Corp Institution	+$281.0K +8.8K shares	$281.0K 8.8K shares
UBS Group AG Institution	+$141.0K +4.4K shares	$365.8K 11.4K shares
MORGAN STANLEY RIA/Wealth	+$105.2K +3.3K shares	$411.1K 12.8K shares

Biggest Sellers

Institution	Net Sold	Current Position
Fourthstone LLC Hedge Fund•Long/Short	−$1.5M −54.9K shares	Sold Off 0 shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	−$514.0K −18.6K shares	Sold Off 0 shares
LOS ANGELES CAPITAL MANAGEMENT & EQUITY RESEARCH INC Long Only Manager	−$213.4K −7.7K shares	Sold Off 0 shares
$DEUTSCHE BANK AG\ logo$ DEUTSCHE BANK AG\ Institution	−$209.6K −7.6K shares	Sold Off 0 shares
Finward Bancorp Institution	−$146.5K −4.6K shares	$4.4M 136.8K shares
NORTHERN TRUST CORP Institution	−$49.3K −1.5K shares	$1.0M 31.5K shares
BARCLAYS PLC Institution	−$49.2K −1.5K shares	$156.0K 4.9K shares
N NEW YORK STATE COMMON RETIREMENT FUND Institution	−$39.4K −1.2K shares	$79.4K 2.5K shares
VANGUARD GROUP INC Institution	−$38.5K −1.2K shares	$6.2M 194.6K shares
$US BANCORP \DE\ logo$ US BANCORP \DE\ Institution	−$27.6K −1.0K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited FNWD in Q3 2025

New Positions: 11
New Value: $2.3M
Exited Positions: 5
Exited Value: $2.5M

New Positions

Institution	Position Value
WELLINGTON MANAGEMENT CO LLP Long Only Manager	$1.6M 49.8K shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	$350.8K 10.9K shares
Bank of New York Mellon Corp Institution	$281.0K 8.8K shares
P Police & Firemen's Retirement System of New Jersey Institution	$39.1K 1.2K shares
SRS Capital Advisors, Inc. RIA/Wealth	$12.2K 379.0 shares
WHITTIER TRUST CO RIA/Wealth	$7.7K 243.0 shares
H HUNTINGTON NATIONAL BANK Long Only Manager	$2.8K 88.0 shares
E EverSource Wealth Advisors, LLC RIA/Wealth	$1.1K 35.0 shares
True Wealth Design, LLC RIA/Wealth	$482.0 15.0 shares
IFP Advisors, Inc RIA/Wealth	$289.0 9.0 shares

Exited Positions

Institution	Previous Position
Fourthstone LLC Hedge Fund•Long/Short	$1.5M 54.9K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$514.0K 18.6K shares
LOS ANGELES CAPITAL MANAGEMENT & EQUITY RESEARCH INC Long Only Manager	$213.4K 7.7K shares
$DEUTSCHE BANK AG\ logo$ DEUTSCHE BANK AG\ Institution	$209.6K 7.6K shares
$US BANCORP \DE\ logo$ US BANCORP \DE\ Institution	$27.6K 1.0K shares

Options Activity

Institutions with the largest Call and Put options positions in FNWD as of Q3 2025

Call Positions: 0
Call Value: -
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
No call positions found

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

Institutions with FNWD as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
PL Capital Advisors, LLC Hedge Fund•Activist	Richard J Lashley Managing Partner	4.44% $12.7M	9.15% 395.7K shares	Q1 2022 Held for 3y 8m	$286.3M
Finward Bancorp Institution	Benjamin J. Bochnowski CEO	3.34% $4.4M	3.16% 136.8K shares	Q4 2024 Held for 11 months	$131.6M
ENDEAVOUR CAPITAL ADVISORS INC Private Equity	Aaron Samuel Richmond Managing Partner	0.96% $3.2M	2.30% 99.5K shares	Q4 2021 Held for 3y 11m	$331.5M
R RAFFLES ASSOCIATES LP Hedge Fund•Value	Paul H. O'Leary Managing Partner	0.82% $853.0K	0.61% 26.6K shares	Q1 2022 Held for 3y 8m	$103.8M
Black Maple Capital Management LP Hedge Fund•Multi-Strategy	Robert James Barnard CEO	0.70% $962.7K	0.69% 30.0K shares	Q1 2024 Held for 1y 8m	$138.0M
OLD NATIONAL BANCORP /IN/ Institution	John V. Moran, IV CEO	0.01% $513.4K	0.37% 16.0K shares	Q2 2025 Held for 5 months	$5.8B
M Mesirow Financial Investment Management, Inc. RIA/Wealth	Natalie Annette Brown CEO	0.01% $342.3K	0.25% 10.7K shares	Q4 2023 Held for 1y 11m	$5.6B
HORIZON BANCORP INC /IN/ RIA/Wealth	James David Pattie President	0.00% $8.6K	0.01% 268.0 shares	Q4 2022 Held for 2y 11m	$208.3M
ALLIANCEBERNSTEIN L.P. Long Only Manager	Seth Perry Bernstein CEO	0.00% $13.0M	9.33% 403.7K shares	Q4 2021 Held for 3y 11m	$317.45B
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	Peter Fitzhugh Brown CEO	0.00% $1.6M	1.13% 49.1K shares	Q4 2023 Held for 1y 11m	$75.8B

Hedge Fund Spotlight

Discover hedge funds investing in FNWD

AQR CAPITAL MANAGEMENT LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerDavid Gary Kabiller

Portfolio Value: $156.17B
Positions: 3,453
Last Reported: Q3 2025

Sector Allocation

Position in Finward Bancorp

Market Value: $350.8K
Shares Held: 10.9K
Portfolio Weight: 0.00%
Owned Since: 2025-Q3

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