U.S. Undervalued Small Caps With Insider Buying

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.

Farmland Partners

Market Cap: US$437.0m

An internally managed real estate company that owns and seeks to acquire high-quality North American farmland and makes loans to third-party farmers (both tenant and non-tenant) and landowners secured by farm real estate and/or other agricultural related assets.

Merchants Bancorp

Market Cap: US$1.6b

Operates as the diversified bank holding company in the United States.

S&T Bancorp

Market Cap: US$1.6b

Operates as the bank holding company for S&T Bank that provides retail and commercial banking products and services to consumer, commercial, and small business in Pennsylvania and Ohio.

Omega Flex

Market Cap: US$284.3m

Manufactures and sells flexible metal hoses, fittings, and accessories in the United States, Canada, and internationally.

Angel Oak Mortgage REIT

Market Cap: US$217.0m

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.

Metropolitan Bank Holding

Market Cap: US$831.9m

Operates as the bank holding company for Metropolitan Commercial Bank that provides a range of business, commercial, and retail banking products and services.

Peoples Bancorp

Market Cap: US$1.1b

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

Citizens & Northern

Market Cap: US$374.0m

Operates as the bank holding company for Citizens & Northern Bank that provides various banking and related services to individual and corporate customers.

Stock Yards Bancorp

Market Cap: US$2.0b

Operates as a holding company for Stock Yards Bank & Trust Company that provides various financial services for individuals, corporations, and others in the United States.

Union Bankshares

Market Cap: US$108.9m

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

Shore Bancshares

Market Cap: US$619.4m

Operates as a bank holding company for the Shore United Bank, N.A.

Infinity Natural Resources

Market Cap: US$883.3m

Engages in the acquisition, exploration, and development of properties to produce oil, natural gas, and natural gas liquids from underground reservoirs in the United States.

First United

Market Cap: US$261.8m

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.

Vestis

Market Cap: US$905.9m

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

Heritage Financial

Market Cap: US$845.9m

Operates as the bank holding company for Heritage Bank that provides various financial services to small and medium sized businesses and individuals in the United States.

Civista Bancshares

Market Cap: US$496.1m

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

Granite Ridge Resources

Market Cap: US$609.0m

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

Legacy Education

Market Cap: US$131.6m

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

inTEST

Market Cap: US$90.0m

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.

Innospec

Market Cap: US$1.9b

Develops, manufactures, blends, markets, and supplies specialty chemicals in the Americas, Europe, the Middle East, Africa, and Asia-Pacific.

FTC Solar

Market Cap: US$156.0m

Engages in the manufacture and service of solar tracker systems in the United States, Asia, Europe, the Middle East, North Africa, South Africa, and Australia.

CF Bankshares

Market Cap: US$173.1m

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

NexPoint Real Estate Finance

Market Cap: US$323.4m

Operates as a commercial mortgage real estate investment trust in the United States.

Colony Bankcorp

Market Cap: US$319.9m

Operates as the bank holding company for Colony Bank that provides various banking products and services to retail and commercial customers in the United States.

Karat Packaging

Market Cap: US$459.1m

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.

FutureFuel

Market Cap: US$149.4m

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

Trinity Capital

Market Cap: US$1.1b

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

PhenixFIN

Market Cap: US$91.7m

A business development company.

Fidelity D & D Bancorp

Market Cap: US$267.0m

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.

Sunrise Realty Trust

Market Cap: US$134.6m

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

Huntsman

Market Cap: US$1.8b

Manufactures and sells diversified organic chemical products worldwide.

Community West Bancshares

Market Cap: US$440.6m

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.

Integra LifeSciences Holdings

Market Cap: US$985.3m

Manufactures and sells surgical instrument, neurosurgical, ear, nose, throat, and wound care products for use in neurosurgery, neurocritical care, and otolaryngology.

American Bitcoin

Market Cap: US$1.7b

A Bitcoin accumulation platform company, focuses on building Bitcoin infrastructure platform.

Saul Centers

Market Cap: US$1.1b

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) 50 community and neighborhood shopping centers and eight mixed-use properties with approximately 10.2 million square feet of leasable area and (b) four non-operating land and development properties.