STOCK TITAN

Penns Woods Bancorp Inc - PWOD STOCK NEWS

Welcome to our dedicated page for Penns Woods Bancorp news (Ticker: PWOD), a resource for investors and traders seeking the latest updates and insights on Penns Woods Bancorp stock.

Penns Woods Bancorp Inc. (NASDAQ: PWOD) is a prominent bank holding company headquartered in Pennsylvania. Incorporated on January 7, 1983, it oversees two principal subsidiaries: Jersey Shore State Bank (JSSB) and Luzerne Bank (Luz). Both banks serve North Central and North Eastern Pennsylvania, offering a comprehensive range of financial services including retail banking, commercial banking, mortgage services, and financial brokerage.

Jersey Shore State Bank has a robust presence with sixteen branches across Lycoming, Clinton, Centre, Montour, Union, and Blair Counties. Luzerne Bank complements this network with eight branches in Luzerne County. The banks provide a variety of services such as the acceptance of time, savings, and demand deposits, and the issuance of commercial, consumer, and mortgage loans. They also offer safe deposit services and utilize a modern branch office network, ATMs, Internet, and telephone banking channels to reach their customers.

In addition to traditional banking services, Penns Woods Bancorp, through JSSB, acquired The M Group, Inc. in 2000. Operating under the name The Comprehensive Financial Group, this subsidiary provides insurance and securities brokerage services, diversifying the financial solutions available to Penns Woods' clientele.

Penns Woods Bancorp maintains a commitment to strategic leadership and community involvement, which is reflected in the expertise and dedication of its leadership team. The company’s operational strategies focus on sustaining financial integrity and fostering prosperity within the regions they serve.

Recent achievements include expanding their core deposits and implementing an “at-the-market” (ATM) equity offering program to raise up to $20 million, aimed at bolstering their financial flexibility. This program is facilitated by D.A. Davidson & Co., ensuring compliance with SEC regulations.

Rhea-AI Summary

Penns Woods Bancorp (NASDAQ: PWOD) reported strong financial results for Q3 2024. Net income reached $4.8 million for the quarter and $14.0 million for the nine months ended September 30, 2024, compared to $2.2 million and $11.1 million in 2023. Basic and diluted earnings per share were $0.64 for Q3 and $1.86 YTD. The company saw an increase in net interest income of $1.7 million and $2.3 million for the three and nine-month periods. Total assets grew to $2.3 billion, with net loans increasing by $58.0 million to $1.9 billion. Deposits increased by $133.1 million to $1.7 billion.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.81%
Tags
-
Rhea-AI Summary

Penns Woods Bancorp (NASDAQ:PWOD) has declared a quarterly cash dividend of $0.32 per share for the third quarter of 2024. The dividend will be payable on September 24, 2024 to shareholders of record as of September 10, 2024. This announcement, made by CEO Richard A. Grafmyre, demonstrates the company's commitment to providing regular returns to its shareholders. The consistent dividend payout may be seen as a positive sign of the bank's financial stability and confidence in its future performance.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.27%
Tags
dividends
-
Rhea-AI Summary

Penns Woods Bancorp, Inc. (NASDAQ: PWOD) reported net income of $9.2 million for the six months ended June 30, 2024, with basic and diluted earnings per share of $1.22. Key highlights include:

- Net income for Q2 2024 was $5.4 million, up from $4.2 million in Q2 2023
- Net interest income increased by $1.1 million and $577,000 for the three and six-month periods
- Net interest margin rose to 2.83% in Q2 2024, a 14 basis point increase from Q1 2024
- Annualized return on average assets was 0.97% for Q2 2024
- Total assets increased to $2.2 billion, up $99.3 million from June 30, 2023
- Net loans grew by $97.2 million to $1.9 billion
- Deposits increased by $94.3 million to $1.6 billion
- Shareholders' equity rose by $22.7 million to $197.1 million

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.13%
Tags
Rhea-AI Summary

Penns Woods Bancorp (NASDAQ:PWOD) has amended the employment agreement of CEO Richard A. Grafmyre, effective June 3, 2024. The key changes involve removing compensation for unused paid time off, reducing Grafmyre’s base salary to $850,000, and capping his annual bonus at $325,000. These modifications will reduce his maximum total annual compensation by about $150,000, aligning it more closely with industry norms and shareholder feedback. New bonus metrics for 2024 include return on average equity, return on average assets, earnings per share, asset growth, and credit quality. These changes aim to better align executive compensation with performance.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none
-
Rhea-AI Summary

Penns Woods Bancorp (NASDAQ: PWOD) has declared a quarterly cash dividend of $0.32 per share for Q2 2024.

The dividend will be paid on June 25, 2024, to shareholders who are on record as of June 11, 2024.

This announcement was made by CEO Richard A. Grafmyre.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.51%
Tags
dividends
-
Rhea-AI Summary

Penns Woods Bancorp's (NASDAQ: PWOD) Board of Directors has authorized a new stock repurchase program. The plan allows repurchase of up to 5% of outstanding shares, equating to about 376,000 shares, over a one-year period ending May 31, 2025. This new program replaces the existing one that expires on May 31, 2024. Repurchases can be made at market prices, through block trades, or privately negotiated transactions based on market conditions. The program is non-binding, meaning the company is not obligated to buy back any specific number of shares and can alter or terminate the plan at any time. Penns Woods Bancorp is the parent company of Jersey Shore State Bank and Luzerne Bank, which together operate multiple branches in Pennsylvania and provide a range of financial services.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.51%
Tags
buyback
Rhea-AI Summary
Penns Woods Bancorp, Inc. reported a net income of $3.8 million for Q1 2024, with basic and diluted EPS of $0.51. The decrease in net interest income and after-tax losses from asset disposals impacted results. Non-GAAP core earnings were $3.8 million, with basic and diluted core EPS of $0.51. Net interest margin decreased to 2.69%. Total assets increased to $2.2 billion, while non-performing loans ratio rose to 0.43%. Deposits decreased, but shareholders' equity increased to $193.5 million.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.85%
Tags
-
Rhea-AI Summary
Penns Woods Bancorp, Inc. (PWOD) declares a first quarter 2024 cash dividend of $0.32 per share, payable on March 26, 2024. CEO Richard A. Grafmyre CFP® announces the dividend for shareholders of record as of March 12, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.09%
Tags
dividends
-
Rhea-AI Summary
Penns Woods Bancorp, Inc. achieved net income of $16.6 million for the twelve months ended December 31, 2023, resulting in basic and diluted earnings per share of $2.34. The company experienced a decrease in net interest income and after-tax securities losses, while bank-owned life insurance income, the sale of a former branch property, and a decrease in the provision for credit losses positively impacted the financials.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.49%
Tags
Rhea-AI Summary
Penns Woods Bancorp, Inc. (NASDAQ:PWOD) declares a fourth quarter 2023 cash dividend of $0.32 per share, payable on December 22, 2023, to shareholders of record on December 12, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.1%
Tags
dividends

FAQ

What is the current stock price of Penns Woods Bancorp (PWOD)?

The current stock price of Penns Woods Bancorp (PWOD) is $27.175 as of November 8, 2024.

What is the market cap of Penns Woods Bancorp (PWOD)?

The market cap of Penns Woods Bancorp (PWOD) is approximately 203.7M.

What is Penns Woods Bancorp Inc.?

Penns Woods Bancorp Inc. is a bank holding company for Jersey Shore State Bank and Luzerne Bank, offering a range of financial services in Pennsylvania.

Where is Penns Woods Bancorp Inc. located?

The company is headquartered in Pennsylvania, USA.

What types of services do Jersey Shore State Bank and Luzerne Bank offer?

They offer retail banking, commercial banking, mortgage services, and financial brokerage, including the acceptance of deposits, loan issuance, and safe deposit services.

When was Penns Woods Bancorp Inc. incorporated?

The company was incorporated on January 7, 1983.

What recent financial initiatives has Penns Woods Bancorp undertaken?

They have launched an 'at-the-market' equity offering program to raise up to $20 million, facilitated by D.A. Davidson & Co.

How many branches does Jersey Shore State Bank operate?

Jersey Shore State Bank operates sixteen branches in Pennsylvania.

How many branches does Luzerne Bank operate?

Luzerne Bank operates eight branches in Luzerne County, Pennsylvania.

What additional services does The M Group, Inc. provide?

The M Group, Inc., operating as The Comprehensive Financial Group, offers insurance and securities brokerage services.

What stock exchange is Penns Woods Bancorp Inc. listed on?

Penns Woods Bancorp Inc. is listed on the NASDAQ National Market under the symbol PWOD.

How does Penns Woods Bancorp ensure its ongoing success?

The company places a strong emphasis on strategic leadership, financial integrity, and community involvement to drive ongoing success.

Penns Woods Bancorp Inc

Nasdaq:PWOD

PWOD Rankings

PWOD Stock Data

203.74M
7.55M
4.05%
26.61%
0.62%
Banks - Regional
State Commercial Banks
Link
United States of America
JERSEY SHORE