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.

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.

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.

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.

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.

Omega Flex

Market Cap: US$280.3m

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

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.

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.

Blue Bird

Market Cap: US$1.6b

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

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.

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.

Shore Bancshares

Market Cap: US$590.3m

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

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.

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.

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.

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.

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.

Trinity Capital

Market Cap: US$1.1b

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

NexPoint Real Estate Finance

Market Cap: US$335.3m

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

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.

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.

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.

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.

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.

NexPoint Diversified Real Estate Trust

Market Cap: US$138.7m

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.

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.

FMC

Market Cap: US$1.7b

An agricultural sciences company, provides crop protection solutions to farmers in Latin America, North America, Europe, the Middle East, Africa, and Asia.

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.

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.

Huntsman

Market Cap: US$1.7b

Manufactures and sells diversified organic chemical products worldwide.

Univest Financial

Market Cap: US$952.8m

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

Dine Brands Global

Market Cap: US$481.6m

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