In a recent transaction, entities associated with Joseph Stilwell, a prominent ten percent owner of Peoples Financial Corp (NASDAQ:PFBX), have acquired additional shares in the company. On July 1, 2024, Stilwell Value Partners VII, L.P., one of the entities under Stilwell's management, purchased 5,000 shares of Peoples Financial Corp at a price of $16.00 per share, amounting to a total investment of $80,000.
This transaction reflects Stilwell's continued interest and stake in the financial institution, further cementing his position as a significant shareholder. The purchase was made directly by Stilwell Value Partners VII, L.P., and indirectly by Joseph Stilwell through his role as the managing member and owner of Stilwell Value LLC, which serves as the general partner of the purchasing entity.
Following the transaction, the total number of shares owned by Stilwell Value Partners VII, L.P. in Peoples Financial Corp has increased to 132,905. It's important to note that Joseph Stilwell disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest.
The acquisition is part of a larger financial picture wherein Stilwell's entities collectively hold a substantial portion of Peoples Financial Corp's common stock. The reported shares are part of a joint filing by the reporting persons as members of a Section 13(d) group that beneficially owns more than 10% of the issuer's common stock.
Investors and market watchers often keep a close eye on the buying and selling activities of major shareholders, as these can be indicative of the insiders' confidence in the company's future prospects. The recent purchase by Stilwell's entities can be seen as a sign of their continued commitment to Peoples Financial Corp.
InvestingPro Insights
Peoples Financial Corp (NASDAQ:PFBX) has been the subject of interest following a recent share purchase by significant shareholder Joseph Stilwell. The company, with an adjusted market capitalization of $74.59 million, seems to maintain a steady financial position. The price-to-earnings (P/E) ratio stands at 8.33, which could be an indicator of the stock being reasonably valued in relation to the company's earnings. This is consistent over the last twelve months as of Q1 2024.
Investors might also take note of the company's revenue growth, which was reported at 8.38% over the last twelve months as of Q1 2024. Despite a quarterly dip in revenue growth by -3.5% in Q1 2024, the year-to-date price total return indicates a significant upturn of 38.7%. This suggests that, while there may have been short-term fluctuations, the stock has performed well over a longer period.
One of the InvestingPro Tips highlights the importance of considering dividend yield and growth, especially for investors looking for regular income. Peoples Financial Corp has a noteworthy dividend yield of 2.25% and an impressive dividend growth of 80.0% over the last twelve months as of Q1 2024. This could be appealing for income-focused investors.
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