U.S. Undervalued Small Caps With Insider Buying

New Peoples Bankshares

Market Cap: US$95.2m

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

Bank of the James Financial Group

Market Cap: US$93.0m

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.

Wolverine World Wide

Market Cap: US$1.5b

Designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories in the United States, Europe, the Middle East, Africa, the Asia Pacific, Canada and Latin America.

Union Bankshares

Market Cap: US$114.7m

Operates as the bank holding company for Union Bank that provides retail, commercial, and municipal banking products and services in the United States.

Auburn National Bancorporation

Market Cap: US$90.6m

Operates as the bank holding company for AuburnBank that provides various banking products and services in East Alabama.

Angel Oak Mortgage REIT

Market Cap: US$219.7m

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.

Peoples Bancorp

Market Cap: US$1.2b

Operates as the financial holding company for Peoples Bank that provides commercial and consumer banking products and services.

Vestis

Market Cap: US$915.7m

Provides uniform rentals and workplace supplies in the United States and Canada.

FutureFuel

Market Cap: US$154.2m

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

Trinity Capital

Market Cap: US$1.2b

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

Community Bancorp

Market Cap: US$178.1m

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.

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.

Fidelity D & D Bancorp

Market Cap: US$273.1m

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.

inTEST

Market Cap: US$110.5m

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.

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.

Granite Ridge Resources

Market Cap: US$665.4m

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

Hallador Energy

Market Cap: US$826.7m

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

Civista Bancshares

Market Cap: US$514.1m

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

Dave & Buster's Entertainment

Market Cap: US$686.0m

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

Legacy Education

Market Cap: US$128.9m

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

Karat Packaging

Market Cap: US$523.0m

Engages in the manufacture and distribution of single-use disposable products in plastic, paper, biopolymer-based, and other compostable forms used in various restaurant and foodservice settings.

Cooper-Standard Holdings

Market Cap: US$610.9m

Through its subsidiary, manufactures and sells sealing, fuel and brake delivery, and fluid transfer systems in the North America, Europe, the Asia Pacific, and the South America.

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.

First Internet Bancorp

Market Cap: US$189.1m

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.

Myers Industries

Market Cap: US$814.4m

Engages in distribution of tire service supplies in Ohio.

Community West Bancshares

Market Cap: US$483.7m

Operates as the bank holding company for the Central Valley Community Bank that provides various commercial banking services to small and middle-market businesses and individuals in California.

Sunrise Realty Trust

Market Cap: US$125.5m

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

Saul Centers

Market Cap: US$1.2b

A self-managed, self-administered equity REIT headquartered in Bethesda, Maryland, which currently operates and manages a real estate portfolio of 62 properties which includes (a) 59 community and neighborhood shopping centers and mixed-use properties with approximately 10.5 million square feet of leasable area and (b) three land and development properties.

Albany International

Market Cap: US$1.6b

Engages in the machine clothing and engineered composites businesses.

Dine Brands Global

Market Cap: US$507.9m

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

QNB

Market Cap: US$141.5m

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.

ADTRAN Holdings

Market Cap: US$756.2m

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

Univest Financial

Market Cap: US$1.0b

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

Brandywine Realty Trust

Market Cap: US$548.8m

Brandywine Realty Trust is one of the largest, publicly traded, full-service, integrated real estate companies in the United States with a core focus in Philadelphia, PA and Austin, TX.

Cross Country Healthcare

Market Cap: US$291.9m

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

Northrim BanCorp

Market Cap: US$565.0m

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