A recent filing with the Securities and Exchange Commission has revealed that Michael J. Casale Jr., a director at Penns Woods Bancorp Inc. (NASDAQ:PWOD), has purchased additional shares in the company. The transaction, which took place on April 30, involved the acquisition of 3,000 shares at a price of $17.29 per share, amounting to a total investment of $51,870.
This purchase increases Casale's total holdings in Penns Woods Bancorp to 34,602 shares. The transaction indicates a vote of confidence from the director in the company's future prospects and financial health. It is not uncommon for company insiders to buy shares as a sign of commitment to the company's success and potential for growth.
Penns Woods Bancorp, headquartered in Jersey Shore, Pennsylvania, operates as the bank holding company for Jersey Shore State Bank and Luzerne Bank, providing banking and financial services to individuals and businesses in the region. The company's stock is traded under the ticker symbol PWOD on the NASDAQ exchange.
Investors often monitor insider transactions as they can provide insights into the perspectives of those with in-depth knowledge of the company. However, it is important to consider that insider buying may be influenced by individual circumstances and does not always predict future stock performance.
The details of this transaction were made public through the SEC's Form 4 filing, which is used to report changes in company ownership by directors, officers, and owners holding more than ten percent of the company's stock.
InvestingPro Insights
The recent insider purchase by director Michael J. Casale Jr. at Penns Woods Bancorp Inc. (NASDAQ:PWOD) aligns with several key metrics and InvestingPro Tips that could be of interest to investors evaluating the company's current financial landscape. Penns Woods Bancorp has a market capitalization of $131.72 million and is trading at a price-to-earnings (P/E) ratio of 8, which is slightly below the adjusted P/E ratio for the last twelve months as of Q1 2024, standing at 8.58.
An InvestingPro Tip highlights that Penns Woods Bancorp has maintained dividend payments for an impressive 40 consecutive years, which is underscored by the current dividend yield of 7.45%. This yield is particularly attractive to income-seeking investors, especially when considering the company's commitment to returning value to shareholders. Another relevant InvestingPro Tip points out that the company is trading near its 52-week low, with the price representing 63.21% of the 52-week high, which could suggest a potential buying opportunity for value investors.
While Penns Woods Bancorp has experienced a price decline over the past three months, with a three-month price total return of -19.04%, the company remains profitable over the last twelve months. The InvestingPro Fair Value estimate for Penns Woods Bancorp stands at $19.11, indicating a potential undervaluation at the current price of $17.17 per share.
For investors seeking additional insights and tips on Penns Woods Bancorp, InvestingPro offers more detailed analysis and metrics. Utilize coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and discover the 5 additional InvestingPro Tips available for PWOD at https://www.investing.com/pro/PWOD.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.