Penns Woods Bancorp, Inc. (NASDAQ:PWOD) Sees Significant Drop in Short Interest

Penns Woods Bancorp, Inc. (NASDAQ:PWOD) saw a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 10,900 shares, a drop of 33.1% from the October 31st total of 16,300 shares. Based on an average daily trading volume, of 13,500 shares, the days-to-cover ratio is presently 0.8 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Penns Woods Bancorp from a “buy” rating to a “hold” rating in a report on Monday.

Penns Woods Bancorp Price Performance

PWOD traded up $0.51 on Friday, hitting $32.28. 10,306 shares of the company’s stock were exchanged, compared to its average volume of 25,175. Penns Woods Bancorp has a fifty-two week low of $17.01 and a fifty-two week high of $32.28. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.24. The firm has a 50-day moving average price of $26.63 and a 200-day moving average price of $23.10. The stock has a market cap of $243.52 million, a price-to-earnings ratio of 12.23 and a beta of 0.44.

Penns Woods Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Tuesday, December 10th will be given a dividend of $0.32 per share. The ex-dividend date is Tuesday, December 10th. This represents a $1.28 annualized dividend and a dividend yield of 3.97%. Penns Woods Bancorp’s payout ratio is 48.48%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. lifted its position in Penns Woods Bancorp by 217.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 34,499 shares of the financial services provider’s stock valued at $821,000 after buying an additional 23,620 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Penns Woods Bancorp in the third quarter valued at about $486,000. Squarepoint Ops LLC acquired a new position in Penns Woods Bancorp in the second quarter valued at about $390,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Penns Woods Bancorp in the second quarter valued at about $223,000. Finally, Hsbc Holdings PLC acquired a new position in Penns Woods Bancorp in the second quarter valued at about $205,000. Institutional investors and hedge funds own 27.94% of the company’s stock.

Penns Woods Bancorp Company Profile

Penns Woods Bancorp, Inc operates as the bank holding company for Jersey Shore State Bank, which provides commercial and retail banking services to individuals, partnerships, non-profit organizations, and corporations. It accepts time, demand, and savings deposits, including super NOW accounts, statement savings accounts, money market accounts, and certificates of deposit, as well as checking and individual retirement account (IRAs) accounts.