Come rain or shine, strong economy or waning, boom or bust, there will always be a banking sector. As we’ve seen in the past, however, not all banks are destined to survive. The spectacular collapse of Lehmann in the US, and the necessary (arguable) bailouts of banks in both continental Europe and the UK have shown this. Smart money has to go after the best opportunities, and Joseph Stillwell is attempting to do just that with his latest buy.

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Wayne Savings Bancshares Inc. (NASDAQ:WAYN) reported that Stilwell Joseph has picked up 269,853 of common stock as of 2017-01-09.

The acquisition brings the aggregate amount owned by Stilwell Joseph to a total of 269,853 representing a 9.7% stake in the company.

For those not familiar with the company, Wayne Savings Bancshares, Inc. is the unitary thrift holding company for Wayne Savings Community Bank (the Bank). The Bank is a community-oriented institution, which offers a range of consumer and business financial services. The Bank’s primary lending and deposit gathering area includes Wayne, Holmes, Ashland, Medina and Stark counties, where it operates over 10 offices. The Bank’s principal business activities consist of originating one- to four-family residential real estate loans, multi-family residential, commercial and non-residential real estate loans. The Bank also originates non-real estate, secured commercial loans, consumer loans and construction loans.

A glance at Wayne Savings Bancshares Inc. (NASDAQ:WAYN)’s key stats reveals a current market capitalization of 45.00 million based on 2.78 million shares outstanding and a price at last close of $16.42 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2015-12-21, Marthey picked up 25 at a purchase price of $12.86. This brings their total holding to 5,500          as of the date of the filing.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Wayne Savings Bancshares Inc. (NASDAQ:WAYN) as things move forward to see if its progress aligns with these transactions.

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