Chevis C. Swetman, CEO and President of Peoples Financial Corp (NASDAQ:PFBX), recently purchased a significant amount of company stock. According to a recent SEC filing, Swetman acquired 16,883 shares, valued at approximately $299,673, at a price of $17.75 per share. This transaction increases his direct ownership to 414,049 shares. The purchase reflects Swetman's continued confidence in the company, which operates as a state commercial bank based in Biloxi, Mississippi.
InvestingPro Insights
Chevis C. Swetman's recent purchase of Peoples Financial Corp (NASDAQ:PFBX) shares aligns with several positive indicators from InvestingPro data. The company's P/E ratio of 3.78 suggests that the stock may be undervalued relative to its earnings, potentially supporting Swetman's decision to increase his stake.
InvestingPro data also reveals that PFBX has a dividend yield of 2.03% and an impressive dividend growth rate of 50% over the last twelve months as of Q3 2024. This strong dividend performance may be attracting investor interest, including that of the CEO.
An InvestingPro Tip highlights that PFBX's earnings per share have shown strong growth recently, which could be a factor in Swetman's bullish outlook on the company. Additionally, the stock's one-year price total return of 47.16% indicates significant momentum, potentially influencing the CEO's decision to acquire more shares.
It's worth noting that InvestingPro offers 12 additional tips for PFBX, providing investors with a more comprehensive analysis of the company's financial health and market position. These insights can be valuable for understanding the context of insider transactions like Swetman's recent purchase.
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