U.S. Undervalued Small Caps With Insider Buying

Farmland Partners

Market Cap: US$433.1m

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.

Wolverine World Wide

Market Cap: US$1.4b

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.

Omega Flex

Market Cap: US$280.3m

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

Vestis

Market Cap: US$923.1m

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

Merchants Bancorp

Market Cap: US$1.6b

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

CNB Financial

Market Cap: US$775.3m

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

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.

Blue Bird

Market Cap: US$1.6b

Designs, engineers, manufactures, and sells school buses in the United States, Canada, and internationally.

Shore Bancshares

Market Cap: US$590.3m

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

Citizens & Northern

Market Cap: US$360.5m

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

First United

Market Cap: US$250.8m

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.

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.

Metropolitan Bank Holding

Market Cap: US$798.0m

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

New Peoples Bankshares

Market Cap: US$90.0m

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

Trinity Capital

Market Cap: US$1.1b

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

Legacy Education

Market Cap: US$123.7m

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

Karat Packaging

Market Cap: US$441.4m

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.

OneSpan

Market Cap: US$464.7m

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.

NexPoint Real Estate Finance

Market Cap: US$335.3m

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

Heritage Financial

Market Cap: US$819.7m

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.

inTEST

Market Cap: US$97.1m

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$1.9b

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

Fidelity D & D Bancorp

Market Cap: US$249.6m

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.

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.

Pebblebrook Hotel Trust

Market Cap: US$1.2b

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.

First Business Financial Services

Market Cap: US$448.8m

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.

Colony Bankcorp

Market Cap: US$304.6m

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.

Civista Bancshares

Market Cap: US$480.1m

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

ADTRAN Holdings

Market Cap: US$681.2m

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

Huntsman

Market Cap: US$1.7b

Manufactures and sells diversified organic chemical products worldwide.

Saul Centers

Market Cap: US$1.0b

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.

Dine Brands Global

Market Cap: US$481.6m

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

Integra LifeSciences Holdings

Market Cap: US$1.0b

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$129.5m

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

QNB

Market Cap: US$131.7m

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.

Community West Bancshares

Market Cap: US$445.8m

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.