CHARLES TOWN, W.Va. - Potomac Bancshares, Inc. (OTC:PTBS), the holding company for Bank of Charles Town, has declared a quarterly dividend of $0.10 per share. Shareholders on record as of February 2, 2024, will receive the dividend payment on February 9, 2024.
The announcement follows the company's reported assets of approximately $809M as of September 30, 2023. Potomac Bancshares operates through its main office, eight additional branch offices, and two loan production offices in multiple counties across West Virginia, Maryland, and Virginia.
Bank of Charles Town offers a variety of banking products and services, including personal and business banking, as well as online and mobile banking solutions. The bank also provides commercial loans, residential and commercial construction loans, and government contractor loans, among other services.
Additionally, BCT's Residential Lending division offers secondary market and portfolio mortgage loans, construction to permanent loans, and home equity products. BCT Wealth Advisors, a division of the bank, has been providing financial management, investment, trust, and estate services for over 65 years.
In recent recognition, BCT was selected by American Banker as a "Top 200 Community Bank" in 2023 and voted as a "Best of the Best" winner in the Journal-News Readers' Choice Awards in four categories the same year. It has also been named a "Best Bank To Work For" multiple times in recent years.
The shares of Potomac Bancshares, Inc. are quoted on the OTC Pink Sheet marketplace under the ticker symbol "PTBS." This dividend declaration is based on a press release statement from Potomac Bancshares, Inc.
InvestingPro Insights
Potomac Bancshares, Inc. (OTC:PTBS) has demonstrated a commitment to shareholder returns, consistently raising its dividend over the past three years, and maintaining payments for 11 consecutive years, signaling a stable financial policy to investors. This is particularly noteworthy as the company is currently trading near its 52-week low, which may present an opportunity for value investors looking for dividend-paying stocks.
From a valuation perspective, PTBS is trading at a P/E ratio of 8.28, which is considered attractive when compared to the market average. However, investors should note that this comes in the context of weak gross profit margins, as indicated by the latest InvestingPro data. On the brighter side, the company has been profitable over the last twelve months, which is a positive sign for potential investors.
For those considering Potomac Bancshares as an investment, the InvestingPro platform offers additional insights and metrics, such as the InvestingPro Fair Value estimate of $20.32, suggesting potential undervaluation at the current price of $15. With a dividend yield of 2.67% and a dividend growth of 11.11% in the last twelve months as of Q3 2023, PTBS could be an intriguing pick for income-focused portfolios.
To dive deeper into Potomac Bancshares' financials and for more InvestingPro Tips, subscribers can visit https://www.investing.com/pro/PTBS. With the New Year sale, InvestingPro subscriptions are now up to 50% off. Use coupon code SFY24 for an additional 10% off a 2-year InvestingPro+ subscription, or SFY241 for an additional 10% off a 1-year subscription. Discover the full range of insights, including many more InvestingPro Tips, to inform your investment decisions.
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