In a recent transaction disclosed to the public, Charles E. Kranich, a director of Penns Woods Bancorp Inc (NASDAQ:PWOD), has purchased additional shares of the company's common stock. The acquisition, which took place on June 3, 2024, signals a vote of confidence from the director in the financial institution's future prospects.
The transaction involved the purchase of 600 shares at prices ranging from $19.8962 to $19.953. The total amount spent by Kranich on these shares amounted to approximately $11,949. This purchase has increased Kranich's direct ownership in Penns Woods Bancorp to 36,152 shares, according to the latest filings.
Penns Woods Bancorp Inc, headquartered in Jersey Shore, Pennsylvania, operates as the bank holding company for Jersey Shore State Bank, offering various banking products and services in the region. As a director of the company, Kranich's investment decisions are often considered a reflection of his belief in the company's stability and growth potential.
Investors typically monitor insider buying as it can be indicative of executives' confidence in the company's performance and valuation. The recent purchase by Director Kranich may thus be seen as a positive sign by current and potential shareholders.
The details of the transaction were made available through regulatory filings with the Securities and Exchange Commission. These insider transactions are a routine part of corporate governance, providing transparency to investors and ensuring that the interests of executives and directors align with those of the shareholders.
For those interested in following the insider activities of Penns Woods Bancorp Inc, the company's stock is traded on the NASDAQ under the ticker symbol PWOD.
InvestingPro Insights
Following Director Charles E. Kranich's recent purchase of Penns Woods Bancorp Inc shares, a closer look at the company's financial health through InvestingPro data reveals a mixed picture. The firm's market capitalization stands at a modest $150.82 million, with a trailing twelve months Price/Earnings (P/E) ratio as of Q1 2024 at 9.79. This valuation suggests that the stock is trading at a reasonable price relative to its earnings. Additionally, Penns Woods Bancorp has a Price/Book ratio of 0.78 for the same period, indicating that the stock may be undervalued given the company's assets.
InvestingPro Tips highlight the company's commitment to its shareholders, with a noteworthy dividend yield of 6.44% as of the latest data. This is complemented by the fact that Penns Woods Bancorp has consistently maintained dividend payments for an impressive 40 consecutive years, demonstrating a reliable return to investors. However, potential investors should be aware of the company's weak gross profit margins, which could be a point of concern for long-term profitability.
For those considering an investment in Penns Woods Bancorp, additional InvestingPro Tips are available, providing deeper insights into the company's financials and future prospects. By using the coupon code PRONEWS24, investors can gain an additional 10% off a yearly or biyearly Pro and Pro+ subscription to access these valuable tips. With 4 additional tips currently listed on InvestingPro, investors can make a more informed decision regarding their investment in Penns Woods Bancorp.
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