Penns Woods Bancorp, Inc. (NASDAQ:PWOD – Get Rating) was the recipient of a large drop in short interest during the month of May. As of May 31st, there was short interest totalling 42,700 shares, a drop of 24.3% from the May 15th total of 56,400 shares. Currently, 0.6% of the company’s shares are short sold. Based on an average daily volume of 10,700 shares, the short-interest ratio is currently 4.0 days.
Insider Activity at Penns Woods Bancorp
In related news, Director Charles E. Kranich bought 1,800 shares of the company’s stock in a transaction that occurred on Thursday, May 4th. The stock was purchased at an average price of $22.53 per share, for a total transaction of $40,554.00. Following the acquisition, the director now owns 30,073 shares of the company’s stock, valued at $677,544.69. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.98% of the stock is owned by insiders.
Hedge Funds Weigh In On Penns Woods Bancorp
A number of institutional investors and hedge funds have recently made changes to their positions in PWOD. Susquehanna International Group LLP acquired a new stake in shares of Penns Woods Bancorp in the 4th quarter valued at $313,000. Jane Street Group LLC acquired a new position in shares of Penns Woods Bancorp during the 1st quarter worth about $239,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Penns Woods Bancorp during the 4th quarter worth about $260,000. Man Group plc acquired a new position in shares of Penns Woods Bancorp during the 4th quarter worth about $209,000. Finally, Morgan Stanley boosted its position in shares of Penns Woods Bancorp by 94.1% during the 4th quarter. Morgan Stanley now owns 11,405 shares of the financial services provider’s stock worth $304,000 after acquiring an additional 5,529 shares in the last quarter. 18.58% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Separately, StockNews.com began coverage on shares of Penns Woods Bancorp in a report on Thursday, May 18th. They issued a “hold” rating for the company.
Penns Woods Bancorp Stock Up 0.9 %
Shares of NASDAQ PWOD opened at $27.34 on Thursday. Penns Woods Bancorp has a 12-month low of $21.50 and a 12-month high of $28.00. The stock has a market cap of $193.02 million, a P/E ratio of 10.44 and a beta of 0.41. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. The business’s fifty day simple moving average is $23.84 and its 200-day simple moving average is $25.27.
Penns Woods Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Tuesday, June 6th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date is Monday, June 5th. Penns Woods Bancorp’s dividend payout ratio is presently 48.86%.
Penns Woods Bancorp Company Profile
Penns Woods Bancorp, Inc engages in the business of commercial and retail banking. Its services include acceptance of time, savings, and demand deposits, the funding of commercial, consumer, and mortgage loans, and safe deposit services. The company was founded on January 7, 1983 and is headquartered in Williamsport, PA.