Eric H. Mabowitz, the Senior Executive Vice President and Chief Risk Officer of Bank at First US Bancshares, Inc. (NASDAQ:FUSB), has sold a significant portion of his holdings in the company. According to recent filings, Mabowitz sold shares valued at over $140,000.
The transactions occurred over a series of four days, starting on June 21, 2024, and concluding on June 26, 2024. The shares were sold at prices ranging from $8.90 to $9.85. On the first day, Mabowitz sold 5,131 shares at $9.85 each. Subsequent sales included 1,000 shares at $9.49, 5,000 shares at $9.14, and the final batch of 4,242 shares at $8.90.
The total value of the shares sold by Mabowitz was $143,484. It's worth noting that these sales were part of an inadvertent rebalancing of Mabowitz's 401(K) Plan, which occurred on June 20, 2024, after he changed future allocations of his plan on May 11, 2024. The rebalancing resulted in the sale of First US Bancshares common stock from his account.
Following these transactions, it appears that Mabowitz no longer holds any direct shares in the company's common stock within his 401(K) Plan. However, information provided by OneAmerica, the recordkeeper of the First US Bancshares, Inc. 401(K) Plan, indicates that as of June 27, 2024, he still indirectly owns 11,952 shares.
Investors often monitor insider transactions as they can provide valuable insights into an executive's view of the company's current valuation and future prospects. The filings provide transparency and ensure that all market participants have access to the same information.
For those interested in following up on the latest insider transactions of First US Bancshares, the details are available in the company's recent SEC filings.
InvestingPro Insights
In light of the recent insider transactions at First US Bancshares, Inc. (NASDAQ:FUSB), where Senior Executive Vice President and Chief Risk Officer Eric H. Mabowitz sold shares valued at over $140,000, a closer look at the company's financial metrics may provide additional context for investors. According to InvestingPro data, First US Bancshares is currently trading at a low P/E ratio of 6.25, based on the last twelve months as of Q1 2024. This could indicate that the company's stock is potentially undervalued relative to its earnings.
Moreover, the PEG Ratio for the same period stands at 0.5, suggesting that the company's earnings growth is not fully reflected in its current stock price. This is reinforced by the fact that First US Bancshares has maintained dividend payments for 11 consecutive years, with a dividend yield of 2.17% as of the last recorded date. The consistency in dividend payments may appeal to income-focused investors looking for stable returns.
InvestingPro Tips for First US Bancshares highlight a high shareholder yield and the fact that the company has been profitable over the last twelve months. These elements, combined with the insider selling event, could influence investor perception of the company's stock. For more detailed analysis and additional InvestingPro Tips, interested parties can visit Investing.com. There are 5 more tips available that could provide further insights into First US Bancshares' financial health and investment potential. Use coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
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