Berkshire Asset Management LLC PA increased its stake in shares of Penns Woods Bancorp, Inc. (NASDAQ:PWOD) by 6.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,429 shares of the financial services provider’s stock after acquiring an additional 1,384 shares during the quarter. Berkshire Asset Management LLC PA’s holdings in Penns Woods Bancorp were worth $1,004,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Ramsey Quantitative Systems increased its stake in Penns Woods Bancorp by 138.3% in the fourth quarter. Ramsey Quantitative Systems now owns 734 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 426 shares during the period. Bank of America Corp DE increased its stake in Penns Woods Bancorp by 12.4% in the fourth quarter. Bank of America Corp DE now owns 4,835 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 534 shares during the period. Rhumbline Advisers acquired a new position in Penns Woods Bancorp in the fourth quarter valued at $258,000. Grandview Asset Management LLC acquired a new position in Penns Woods Bancorp in the fourth quarter valued at $390,000. Finally, Hudock Capital Group LLC increased its stake in Penns Woods Bancorp by 1.8% in the fourth quarter. Hudock Capital Group LLC now owns 39,883 shares of the financial services provider’s stock valued at $1,630,000 after purchasing an additional 706 shares during the period. Hedge funds and other institutional investors own 26.22% of the company’s stock.
Separately, ValuEngine lowered shares of Penns Woods Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 10th.
Penns Woods Bancorp (NASDAQ:PWOD) last posted its quarterly earnings data on Monday, January 28th. The financial services provider reported $0.89 EPS for the quarter. The company had revenue of $15.13 million for the quarter. Penns Woods Bancorp had a net margin of 21.48% and a return on equity of 10.51%.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Tuesday, March 12th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 4.46%. The ex-dividend date of this dividend was Monday, March 11th.
In other news, CEO Richard A. Grafmyre bought 750 shares of the stock in a transaction dated Friday, February 1st. The shares were acquired at an average price of $35.88 per share, with a total value of $26,910.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Edwards bought 1,750 shares of the stock in a transaction dated Friday, February 1st. The stock was purchased at an average cost of $36.17 per share, for a total transaction of $63,297.50. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 5,786 shares of company stock worth $217,766. Insiders own 3.39% of the company’s stock.
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Penns Woods Bancorp Profile
Penns Woods Bancorp, Inc operates as the bank holding company for Jersey Shore State Bank and Luzerne Bank, which provides commercial and retail banking services to individuals, partnerships, non-profit organizations, and corporations. The company accepts time, demand, and savings deposits, including super NOW accounts, statement savings accounts, money market accounts, and certificates of deposit, as well as checking accounts and IRAs.
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