U.S. Undervalued Small Caps With Insider Buying

Angel Oak Mortgage REIT

Market Cap: US$227.2m

A real estate finance company, focuses on acquiring and investing in first lien non- qualified mortgage loans and other mortgage-related assets in the United States mortgage market.

First United

Market Cap: US$244.5m

Operates as the bank holding company for First United Bank & Trust that provides various retail and commercial banking services to businesses and individuals in the United States.

Bank of the James Financial Group

Market Cap: US$94.2m

Operates as the bank holding company for Bank of the James that provides general retail and commercial banking services to individuals, businesses, associations and organizations, and governmental authorities in Virginia, the United States.

New Peoples Bankshares

Market Cap: US$98.7m

Operates as a financial holding company for New Peoples Bank, Inc.

First Northern Community Bancorp

Market Cap: US$230.0m

Operates as the bank holding company for First Northern Bank of Dixon that provides commercial banking products and services to individuals, and small and medium sized businesses.

inTEST

Market Cap: US$129.5m

Provides test and process technology solutions for use in manufacturing and testing in automotive, defense/aerospace, industrial, life sciences, security, and semiconductor markets in the United States and internationally.

UMH Properties

Market Cap: US$1.4b

UMH Properties, Inc., which was organized in 1968, is a public equity REIT that currently owns and operates 145 manufactured home communities, containing approximately 27,000 developed homesites, of which 10,800 contain rental homes, and over 1,000 self-storage units.

Trinity Capital

Market Cap: US$1.2b

A business development company specializing in term loans, equipment financing, and private equity-related investments.

J&J Snack Foods

Market Cap: US$1.6b

Manufactures, markets, and distributes nutritional snack food and beverages to the food service and retail supermarket industries in the United States, Mexico, and Canada.

Legacy Education

Market Cap: US$145.7m

Provides education services to students, high school graduates, and working parents in the United States.

Hallador Energy

Market Cap: US$934.2m

Through its subsidiaries, engages in the production of steam coal for the electric power generation industry in Indiana.

Dave & Buster's Entertainment

Market Cap: US$515.0m

Owns and operates entertainment and dining venues for adults and families in North America.

Monro

Market Cap: US$714.8m

Engages in the operation of retail tire and automotive repair stores in the United States.

Community Bancorp

Market Cap: US$178.0m

Operates as the bank holding company for Community National Bank that provides various financial services to individuals, businesses, nonprofit organizations, and municipalities in northern and central Vermont.

Fidelity D & D Bancorp

Market Cap: US$267.8m

Operates as the bank holding company for The Fidelity Deposit and Discount Bank that provides a range of banking, trust, and financial services to individuals, small businesses, and corporate customers.

Granite Ridge Resources

Market Cap: US$662.8m

Operates as a non-operated oil and natural gas exploration and production company.

FutureFuel

Market Cap: US$164.7m

Manufactures and sells diversified chemical, bio-based fuel, and bio-based specialty chemical products in the United States.

CF Bankshares

Market Cap: US$204.2m

Operates as the bank holding company for CFBank, National Association that provides various banking products and services.

Byline Bancorp

Market Cap: US$1.5b

Operates as the bank holding company for Byline Bank that provides various banking products and services for small and medium sized businesses, commercial real estate and financial sponsors, and consumers in the United States.

ADTRAN Holdings

Market Cap: US$808.9m

Provides networking and communications platforms, software, systems, and services in the United States, Germany, the United Kingdom, and internationally.

QNB

Market Cap: US$142.5m

Operates as the bank holding company for QNB Bank that engages in the provision of commercial and retail banking products, and retail brokerage services in the United States.

Veris Residential

Market Cap: US$1.7b

A forward-thinking real estate investment trust (REIT) that primarily owns, operates, acquires and develops premier Class A multifamily properties in the Northeast.

Cross Country Healthcare

Market Cap: US$264.7m

Provides talent management services for healthcare clients in the United States.

Dine Brands Global

Market Cap: US$457.7m

Owns, franchises, and operates restaurants in the United States and internationally.

First Internet Bancorp

Market Cap: US$183.3m

Operates as the bank holding company for First Internet Bank of Indiana that provides various commercial, small business, consumer, and municipal banking products and services to individuals and commercial customers in the United States.

Sunrise Realty Trust

Market Cap: US$126.3m

Engages in commercial real estate lending business in the United States.

Univest Financial

Market Cap: US$994.9m

Operates as the bank holding company for Univest Bank and Trust Co.

LCNB

Market Cap: US$245.3m

Operates as the financial holding company for LCNB National Bank that provides banking services in the United States.

Albany International

Market Cap: US$1.7b

Engages in the machine clothing and engineered composites businesses.

Oxford Industries

Market Cap: US$568.6m

An apparel company, designs, sources, markets, and distributes lifestyle products worldwide.

SmartStop Self Storage REIT

Market Cap: US$1.8b

A self-managed REIT with a fully integrated operations team of more than 1,000 self-storage professionals focused on growing the SmartStop Self Storage brand.

Clipper Realty

Market Cap: US$143.1m

Clipper Realty Inc. (NYSE: CLPR) is a self-administered and self-managed real estate company that acquires, owns, manages, operates, and repositions multifamily residential and commercial properties in the New York metropolitan area, with a portfolio in Manhattan and Brooklyn.

Tompkins Financial

Market Cap: US$1.2b

A financial holding company, provides commercial and consumer banking, leasing, trust and investment management, financial planning and wealth management, and insurance services.

Corsair Gaming

Market Cap: US$723.6m

Designs and sells gaming and streaming peripherals, components, and systems in Europe, the Middle East, North Africa, North America, Latin America, and the Asia Pacific.

Capital Southwest

Market Cap: US$1.4b

A business development company.

Northrim BanCorp

Market Cap: US$561.0m

Operates as the bank holding company for Northrim Bank that provides commercial banking products and services to businesses and professional individuals.