8,945 Shares in Penns Woods Bancorp, Inc. (NASDAQ:PWOD) Purchased by Merit Financial Group LLC

Merit Financial Group LLC acquired a new stake in Penns Woods Bancorp, Inc. (NASDAQ:PWOD) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 8,945 shares of the financial services provider’s stock, valued at approximately $201,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PWOD. Allspring Global Investments Holdings LLC purchased a new position in shares of Penns Woods Bancorp during the 3rd quarter valued at approximately $29,000. Commonwealth Equity Services LLC lifted its holdings in Penns Woods Bancorp by 2.3% during the third quarter. Commonwealth Equity Services LLC now owns 47,970 shares of the financial services provider’s stock valued at $1,011,000 after purchasing an additional 1,090 shares in the last quarter. Finally, Hudock Inc. lifted its holdings in Penns Woods Bancorp by 0.6% during the third quarter. Hudock Inc. now owns 87,187 shares of the financial services provider’s stock valued at $1,838,000 after purchasing an additional 534 shares in the last quarter. 27.94% of the stock is currently owned by hedge funds and other institutional investors.

Penns Woods Bancorp Price Performance

Shares of Penns Woods Bancorp stock opened at $19.23 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.10 and a quick ratio of 1.09. The business has a 50 day simple moving average of $18.54 and a two-hundred day simple moving average of $20.18. The stock has a market capitalization of $144.49 million, a P/E ratio of 8.82 and a beta of 0.47. Penns Woods Bancorp, Inc. has a 12 month low of $17.01 and a 12 month high of $27.59.

Penns Woods Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Tuesday, March 12th were issued a $0.32 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $1.28 dividend on an annualized basis and a yield of 6.66%. Penns Woods Bancorp’s payout ratio is currently 58.72%.

Analyst Ratings Changes

Separately, TheStreet downgraded shares of Penns Woods Bancorp from a “b-” rating to a “c+” rating in a research report on Wednesday, March 20th.

Insiders Place Their Bets

In other Penns Woods Bancorp news, Director Charles E. Kranich bought 3,000 shares of Penns Woods Bancorp stock in a transaction dated Tuesday, April 30th. The stock was acquired at an average cost of $17.55 per share, for a total transaction of $52,650.00. Following the completion of the transaction, the director now directly owns 35,052 shares of the company’s stock, valued at $615,162.60. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Charles E. Kranich purchased 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was purchased at an average price of $17.55 per share, with a total value of $52,650.00. Following the completion of the acquisition, the director now owns 35,052 shares in the company, valued at $615,162.60. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Brian L. Knepp acquired 2,670 shares of the stock in a transaction on Tuesday, April 30th. The shares were bought at an average cost of $17.32 per share, for a total transaction of $46,244.40. Following the purchase, the president now directly owns 20,776 shares of the company’s stock, valued at approximately $359,840.32. The disclosure for this purchase can be found here. Insiders have acquired a total of 6,305 shares of company stock valued at $110,608 in the last 90 days. 3.98% of the stock is owned by insiders.

Penns Woods Bancorp Profile

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.