The chief executive of Peoples Financial Corp purchased 1,000 shares of the company for $23,250 on August 24, according to a regulatory filing. The shares were acquired at $23.25 each, slightly above the stock’s closing price of $23.10 on the same day.
Swetman, who serves as president and director, now holds 428,713 shares directly, representing a 10% stake in the company. The transaction follows a semiannual cash dividend of $0.18 per common share declared by Peoples Financial in June, with payments recorded on June 8 and distributed on June 11.
The bank holding company’s shares have gained 14% year-to-date, trading near the price paid by Swetman. Peoples Financial has maintained a streak of consecutive dividend payments for the past decade, though third-party analysis indicates the stock appears overvalued at current levels.
