In a recent transaction on May 29, 2024, Renee Wood, the Executive Vice President (EVP) and Chief Financial Officer of Consumers Bancorp Inc. (NASDAQ:CBKM), purchased 500 shares of the company's common stock at a price of $17.40 per share. The total investment made by Wood amounted to $8,700.
This acquisition adds to Wood's existing holdings in the company, bringing her total ownership to 22,247.866 shares, which includes shares acquired through the dividend reinvestment plan, as noted in a footnote of the SEC filing.
The transaction was made public through a Form 4 filing with the Securities and Exchange Commission. Investors often monitor these filings to gain insight into the actions of a company's executives, as they can be indicative of the leadership's confidence in the firm's future prospects.
Consumers Bancorp Inc., based in Ohio, operates within the national commercial banks sector and is known for providing a range of banking services to its customers. The purchase by the company's EVP & CFO may be seen as a positive sign by investors who look for alignment between a company's management and its shareholders' interests.
InvestingPro Insights
Following the recent insider purchase by Consumers Bancorp Inc.'s (NASDAQ:CBKM) Executive Vice President and CFO, Renee Wood, the investment community may be keen to understand the company's financial health and market performance. According to InvestingPro data, Consumers Bancorp Inc. has a market capitalization of $54.28 million, with a notably low Price/Earnings (P/E) ratio of 5.66. This P/E ratio has slightly increased to 5.95 when adjusted for the last twelve months as of Q3 2024, which may suggest that the company is trading at a low earnings multiple compared to its historical performance.
In terms of shareholder returns, Consumers Bancorp Inc. has demonstrated a commitment to its dividend policy, boasting a dividend yield of 4.13% as of mid-2024. This aligns with one of the InvestingPro Tips highlighting that the company has not only maintained but raised its dividend payments for 26 consecutive years, a testament to its financial stability and commitment to returning value to shareholders. Additionally, the firm has seen a 5.88% dividend growth in the last twelve months leading up to Q3 2024, further solidifying its reputation as a reliable dividend payer.
However, investors should note that despite its solid dividend track record and low earnings multiple, another InvestingPro Tip points out that Consumers Bancorp Inc. suffers from weak gross profit margins. This could be a concern for those looking at the company's ability to maintain its profitability over time. Nevertheless, the company has been profitable over the last twelve months, which may offer some reassurance regarding its financial health.
For those interested in further insights and tips, InvestingPro provides additional analysis and metrics on Consumers Bancorp Inc., which can be accessed at https://www.investing.com/pro/CBKM. Investors can also take advantage of a special offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking even more valuable information to guide their investment decisions. Currently, InvestingPro lists several more tips for CBKM, providing a comprehensive view of the company for potential investors.
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