U.S. Undervalued Small Caps With Insider Buying

Farmland Partners

Market Cap: US$410.3m

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.

Hanmi Financial

Market Cap: US$809.5m

Operates as the holding company for Hanmi Bank that provides business banking products and services in the United States.

S&T Bancorp

Market Cap: US$1.5b

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.

MVB Financial

Market Cap: US$327.9m

Operates as bank holding company for MVB Bank, Inc that provides financial services to individuals and corporate clients.

Shore Bancshares

Market Cap: US$554.2m

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

Citizens & Northern

Market Cap: US$350.0m

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

Peoples Bancorp

Market Cap: US$1.0b

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

CNB Financial

Market Cap: US$731.2m

Operates as the bank holding company for CNB Bank that provides various banking products and services for individual, business, governmental, and institutional customers.

OneSpan

Market Cap: US$455.9m

Provides digital solutions for security, authentication, identity, electronic signature, and digital workflow products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific regions.

Karat Packaging

Market Cap: US$424.5m

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.

Ellington Financial

Market Cap: US$1.5b

Through its subsidiary, Ellington Financial Operating Partnership LLC, acquires and manages mortgage-related, consumer-related, corporate-related, and other financial assets in the United States.

NexPoint Real Estate Finance

Market Cap: US$250.1m

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

Legacy Education

Market Cap: US$126.7m

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

inTEST

Market Cap: US$93.1m

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$1.8b

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

Pebblebrook Hotel Trust

Market Cap: US$1.3b

Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust (“REIT”) and the largest owner of urban and resort lifestyle hotels and resorts in the United States.

Washington Trust Bancorp

Market Cap: US$527.5m

Operates as the bank holding company for The Washington Trust Company, of Westerly that provides various banking and financial services to individuals and businesses.

Meridian

Market Cap: US$173.9m

Operates as the bank holding company for Meridian Bank that provides commercial banking products and services in Pennsylvania, New Jersey, Delaware, Maryland, and Florida.

Colony Bankcorp

Market Cap: US$293.3m

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.

Granite Ridge Resources

Market Cap: US$672.0m

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

Fidelity D & D Bancorp

Market Cap: US$258.1m

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.

Civista Bancshares

Market Cap: US$466.0m

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

First Business Financial Services

Market Cap: US$429.0m

Operates as the bank holding company for First Business Bank that provides commercial banking products and services for small and medium-sized businesses, business owners, executives, professionals, and high net worth individuals in Wisconsin, Kansas, and Missouri.

Trinity Capital

Market Cap: US$1.1b

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

Embassy Bancorp

Market Cap: US$135.0m

Operates as the bank holding company for the Embassy Bank for the Lehigh Valley that provides various banking and related financial products and services to individual, business, and government customers in Pennsylvania.

Dine Brands Global

Market Cap: US$409.8m

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

First Capital

Market Cap: US$158.7m

Operates as the bank holding company for First Harrison Bank that provides various banking services to individuals and business customers in Indiana and Kentucky, the United States.

Huntsman

Market Cap: US$1.5b

Manufactures and sells diversified organic chemical products worldwide.

NexPoint Diversified Real Estate Trust

Market Cap: US$132.4m

An externally advised, publicly traded, diversified real estate investment trust (REIT) focused on the acquisition, development, and management of opportunistic and value-add investments throughout the United States across multiple sectors where NexPoint and its affiliates have operational expertise.

QNB

Market Cap: US$131.3m

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.

Integra LifeSciences Holdings

Market Cap: US$937.8m

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

Sunrise Realty Trust

Market Cap: US$130.2m

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

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.

Community West Bancshares

Market Cap: US$425.9m

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.

Hudson Technologies

Market Cap: US$294.7m

Through its subsidiary, Hudson Technologies Company, provides solutions to recurring problems within the refrigeration industry in the United States.

Capital Southwest

Market Cap: US$1.2b

Specializes in credit and private equity and venture capital investments in middle market companies, mezzanine, later stage, mature, late venture, emerging growth, buyouts, industry consolidation, recapitalizations and growth capital investments.