In a recent transaction on June 11, Robert K. Baker, a director at CSB Bancorp, Inc. (NASDAQ:CSBB), acquired additional shares of the company's common stock. The purchase, totaling $13,457, was executed at a price of $38.45 per share.
Robert K. Baker's transaction involved buying 350 shares of CSB Bancorp's common stock, which operates within the state commercial banks sector under the standard industrial classification. Following the transaction, Baker's direct holdings in the company increased to 18,288.7645 shares, with an additional 15,500 shares held indirectly through an IRA. Furthermore, Baker has indirect holdings of 5,951.2624 shares allocated to his account pursuant to a dividend reinvestment feature of the CSB Bancorp, Inc. Dividend Reinvestment Plan, as well as 1,720 shares held by his spouse.
The transaction was part of Baker's regular investment activities and was disclosed in a Form 4 filing with the Securities and Exchange Commission. It reflects the director's confidence in the financial institution's future performance and growth prospects.
Investors often monitor insider transactions like these as they can provide insights into the company's internal perspectives and expectations. CSB Bancorp, Inc. is incorporated in Ohio, with a fiscal year-end on December 31. The company's business address is located at 91 North Clay St, Millersburg, Ohio.
The Form 4 filing also included a mention of a Power of Attorney, indicating that Baker has appointed Margaret L. Conn and Andrea R. Miley as his attorneys-in-fact for dealing with Section 16 reporting obligations, which relate to the reporting of transactions in company securities by corporate insiders.
This recent purchase by Director Robert K. Baker adds to his already substantial investment in CSB Bancorp, Inc., signaling his ongoing commitment to the company's success.
In other recent news, CSB Bancorp, a financial holding company, has declared a second quarter cash dividend of $0.39 per share. This declaration is in line with the company's ongoing commitment to delivering value to its shareholders. The dividend is set to be paid on June 18, 2024, to shareholders who are on record as of June 4, 2024. CSB Bancorp's assets were reported to be approximately $1.2 billion as of March 31, 2024. The company operates primarily through its wholly owned subsidiary, The Commercial and Savings Bank, which has sixteen banking centers across various counties in Ohio. As part of recent developments, there were no additional strategic plans or financial goals disclosed in relation to the dividend announcement by CSB Bancorp. This information was based on a press release statement from the company.
InvestingPro Insights
In light of the recent insider purchase by Director Robert K. Baker at CSB Bancorp, Inc., it's pertinent to examine some of the financial metrics and professional insights that may have influenced his decision. According to InvestingPro data, CSB Bancorp, Inc. has a market capitalization of 102.46 million USD, with a Price/Earnings (P/E) ratio of 7.47 as of the last twelve months ending Q1 2024. This relatively low P/E ratio could be indicative of the stock being undervalued compared to its earnings, potentially offering an attractive entry point for investors like Baker.
The company's Price/Book ratio stands at 0.94 for the same period, suggesting that the stock is trading at a discount to the value of its assets. Additionally, the revenue for CSB Bancorp, Inc. over the last twelve months was 41.59 million USD, although there has been a slight decline in revenue growth by 0.41% during this timeframe.
An InvestingPro Tip highlights that CSB Bancorp is trading at a high P/E ratio relative to near-term earnings growth, which may raise concerns about future performance. However, the company is a prominent player in the Banks industry, as another InvestingPro Tip points out, which could offer some stability and familiarity in the market.
For readers seeking more in-depth analysis and additional professional insights, there are a total of 9 InvestingPro Tips available at https://www.investing.com/pro/CSBB. These tips include observations on cash burn, sales forecasts, and profit margins which could be crucial for investors considering this stock. For those interested in accessing these insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro, where you can find valuable information to guide your investment decisions.
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