Merit Financial Group LLC grew its stake in shares of Penns Woods Bancorp, Inc. (NASDAQ:PWOD - Free Report) by 221.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 41,897 shares of the financial services provider's stock after acquiring an additional 28,865 shares during the period. Merit Financial Group LLC owned about 0.55% of Penns Woods Bancorp worth $1,169,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of PWOD. Empowered Funds LLC raised its stake in shares of Penns Woods Bancorp by 4.9% during the fourth quarter. Empowered Funds LLC now owns 28,602 shares of the financial services provider's stock valued at $869,000 after acquiring an additional 1,342 shares in the last quarter. ABC Arbitrage SA purchased a new position in Penns Woods Bancorp during the fourth quarter valued at approximately $369,000. Zullo Investment Group Inc. purchased a new position in Penns Woods Bancorp during the fourth quarter valued at approximately $207,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Penns Woods Bancorp by 9.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 37,822 shares of the financial services provider's stock valued at $1,149,000 after buying an additional 3,323 shares during the period. Finally, Truffle Hound Capital LLC purchased a new position in Penns Woods Bancorp during the fourth quarter valued at approximately $6,078,000. Institutional investors own 27.94% of the company's stock.
Penns Woods Bancorp Stock Performance
Shares of PWOD stock opened at $29.53 on Friday. The firm has a market cap of $224.84 million, a price-to-earnings ratio of 12.51 and a beta of 0.46. The company's 50 day moving average is $28.34 and its 200 day moving average is $29.74. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.24. Penns Woods Bancorp, Inc. has a 52-week low of $18.91 and a 52-week high of $34.56.
Penns Woods Bancorp (NASDAQ:PWOD - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter. The company had revenue of $18.71 million for the quarter. Penns Woods Bancorp had a net margin of 14.87% and a return on equity of 9.26%.
Penns Woods Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Tuesday, June 10th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 4.33%. The ex-dividend date is Tuesday, June 10th. Penns Woods Bancorp's dividend payout ratio is currently 45.71%.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen assumed coverage on shares of Penns Woods Bancorp in a report on Tuesday, May 20th. They set a "hold" rating on the stock.
Check Out Our Latest Stock Report on Penns Woods Bancorp
Penns Woods Bancorp Company Profile
(
Free Report)
Penns Woods Bancorp, Inc operates as the bank holding company for Jersey Shore State Bank, which provides commercial and retail banking services to individuals, partnerships, non-profit organizations, and corporations. It accepts time, demand, and savings deposits, including super NOW accounts, statement savings accounts, money market accounts, and certificates of deposit, as well as checking and individual retirement account (IRAs) accounts.
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