In a recent transaction, Suzanne Mikes, the Senior Vice President and Chief Credit Officer of Consumers Bancorp Inc. /OH/ (NASDAQ:CBKM), acquired additional shares in the company. On June 11, 2024, Mikes purchased 200 shares of common stock at a price of $16.45 per share, amounting to a total investment of $3,290.
This acquisition increases Mikes’ total holdings in Consumers Bancorp to 7,636.624 shares, which includes shares obtained through the company's dividend reinvestment plan. The transaction reflects a continued commitment by the executive to the company's future, as holding a significant amount of shares aligns their interests with those of the shareholders.
Investors often monitor insider transactions as they can provide insights into an executive’s confidence in the company’s prospects. The purchase by a high-ranking officer such as the SVP and Chief Credit Officer can be a positive signal to the market.
Consumers Bancorp, headquartered in Minerva, Ohio, operates as a national commercial bank and provides various banking and financial services. As insiders continue to engage in the market, stakeholders keep a close watch on these investment moves for indications of the company’s performance and strategic direction.
InvestingPro Insights
As insiders like Suzanne Mikes increase their stakes in Consumers Bancorp Inc. /OH (NASDAQ:CBKM), investors may find additional context in the company's financial metrics and market performance. According to InvestingPro data, Consumers Bancorp boasts a market capitalization of $51.42 million, with a notably low price-to-earnings (P/E) ratio of 5.9. This low earnings multiple suggests that the company's shares might be undervalued compared to its earnings potential.
InvestingPro Tips highlight that Consumers Bancorp has demonstrated a commitment to shareholder returns, having raised its dividend for 7 consecutive years and maintaining dividend payments for 26 consecutive years. This track record, coupled with a dividend yield of 4.36%, underscores the company's potential as an attractive option for income-focused investors. Additionally, the company has been profitable over the last twelve months, which is a reassuring sign for stakeholders considering the recent insider purchases.
While the company's revenue has experienced a slight decline of -1.86% over the last twelve months, the commitment of executives like Mikes to invest personal funds may reflect an optimistic outlook on the company's ability to navigate through current market conditions. For investors intrigued by these insights, additional InvestingPro Tips are available for further analysis, providing an expanded view of the company's financial health and future prospects. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at Investing.com, where you can find 5 more InvestingPro Tips for Consumers Bancorp.
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