Eddie L. Steiner, President and CEO of CSB Bancorp, Inc. (OTC:CSBB), recently purchased additional shares of the company. According to a recent SEC filing, Steiner acquired a total of 600 shares on October 25, 2024, at a price of $37.50 per share. The total value of these transactions amounts to $22,500.
This acquisition increases Steiner's direct ownership to 20,342.5524 shares, as noted in the filing. Additionally, he holds 39,352 shares indirectly through an IRA account. The shares were acquired as part of a dividend reinvestment plan, further aligning Steiner’s interests with those of CSB Bancorp shareholders.
In other recent news, CSB Bancorp, Inc. has raised its quarterly cash dividend from $0.39 to $0.40 per share, marking a slight increase in returns to shareholders. This adjustment is set to take effect with dividends paid to shareholders recorded as of early September 2024. The company's assets were reported to total approximately $1.2 billion as of the end of June 2024.
This development is part of CSB Bancorp's regular financial activities, reflecting the company's financial health and commitment to shareholder value. Investors may perceive the dividend increase as a positive indicator of the company's performance. The company operates mainly through its subsidiary, The Commercial and Savings Bank, which maintains a network of sixteen banking centers and Trust offices across multiple counties in Ohio.
These are the recent developments for CSB Bancorp, as the company continues to execute its financial strategies. The information provided is based on a press release statement from CSB Bancorp, Inc. and does not offer a comprehensive view about the company.
InvestingPro Insights
Eddie L. Steiner's recent purchase of CSB Bancorp, Inc. (OTC:CSBB) shares through a dividend reinvestment plan aligns with some interesting financial metrics and insights from InvestingPro.
According to InvestingPro data, CSB Bancorp's stock is currently trading near its 52-week low, with a price-to-book ratio of 0.87 as of the last twelve months ending Q3 2024. This valuation suggests the stock might be undervalued relative to its book value, potentially making it an attractive investment for insiders like Steiner.
Despite the company's relatively low market capitalization of $99.72 million, CSB Bancorp has maintained profitability over the last twelve months. The company's P/E ratio stands at 8.78, indicating that investors are paying $8.78 for every dollar of earnings. This relatively low P/E ratio could be seen as another indicator of potential undervaluation.
An InvestingPro Tip notes that CSB Bancorp is a prominent player in the Banks industry. This position, combined with Steiner's increased stake, may signal confidence in the company's long-term prospects despite current market conditions.
However, investors should be aware that analysts anticipate a sales decline in the current year, according to another InvestingPro Tip. This forecast aligns with the reported revenue growth of -8.76% over the last twelve months ending Q3 2024.
For a more comprehensive analysis, InvestingPro offers 6 additional tips for CSB Bancorp, providing investors with a deeper understanding of the company's financial health and market position.
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