The United States market has shown a flat performance over the last week but has experienced a significant rise of 19% over the past year, with earnings expected to grow by 18% annually. In this context, identifying good stocks often involves looking for small-cap companies with potential growth drivers and notable insider activity that may signal confidence in their future prospects.

Top 10 Undervalued Small Caps With Insider Buying In The United States

Name	PE	PS	Discount to Fair Value	Value Rating
Appian	2093.7x	2.4x	31.97%	★★★★★☆
Industrial Logistics Properties Trust	NA	1.3x	38.06%	★★★★★☆
First Bancorp	10.4x	3.9x	21.63%	★★★★☆☆
Peoples Bancorp	12.1x	3.2x	40.78%	★★★★☆☆
Similarweb	NA	2.0x	21.96%	★★★★☆☆
Modiv Industrial	NA	3.8x	49.01%	★★★★☆☆
German American Bancorp	13.0x	4.7x	40.15%	★★★☆☆☆
Bank of the James Financial Group	10.5x	2.3x	18.62%	★★★☆☆☆
Angel Oak Mortgage REIT	14.0x	6.3x	21.34%	★★★☆☆☆
Angel Studios	NA	1.9x	12.72%	★★★☆☆☆

Let's take a closer look at a couple of our picks from the screened companies.

Midland States Bancorp (MSBI)

Simply Wall St Value Rating: ★★★☆☆☆

Overview: Midland States Bancorp is a financial holding company that operates through its banking and wealth management segments, with a market capitalization of approximately $0.54 billion.

Operations: Midland States Bancorp generates revenue primarily from its Banking and Wealth Management segments, with the Banking segment contributing $254.68 million and Wealth Management adding $31.84 million. The company experienced fluctuations in net income margin, which reached a high of 30.32% in September 2023 before turning negative in subsequent periods, dropping to -76.38% by September 2025. Operating expenses are significant, with General & Administrative expenses consistently making up a large portion of these costs across various periods examined.

PE: 24.6x

Midland States Bancorp, a financial services player, showcases potential as an undervalued stock with forecasted earnings growth of 42.11% annually. Recent insider confidence is evident from share repurchases totaling US$7.85 million in early 2026. Despite net charge-offs declining to US$6.75 million for Q1 2026, the company achieved a turnaround with net income hitting US$18.46 million compared to a significant loss last year. Leadership changes include Claire A. Stack's appointment as CFO, enhancing strategic direction and financial oversight capabilities moving forward.

Ardent Health (ARDT)

Simply Wall St Value Rating: ★★★★☆☆

Overview: Ardent Health is a healthcare services company operating in the healthcare sector with a focus on providing comprehensive medical care.

Operations: Ardent Health generates revenue primarily from healthcare services, with the latest reported figure being $6.43 billion. The company's cost of goods sold (COGS) amounts to $2.66 billion, resulting in a gross profit margin of 58.60%. Operating expenses are significant, totaling $3.43 billion, which includes general and administrative expenses of approximately $2.58 billion.

PE: 10.8x

Ardent Health, a healthcare company in the U.S., recently experienced a leadership change with Dave Caspers stepping in as CEO. Their financials show Q1 2026 sales of US$1.6 billion, up from US$1.5 billion last year, though net income slightly decreased to US$39.85 million. Despite being dropped from several growth benchmarks on June 27, insider confidence remains high with recent purchases indicating faith in its potential amidst strategic acquisitions and growth plans.

MasterBrand (MBC)

Simply Wall St Value Rating: ★★★☆☆☆

Overview: MasterBrand is a company that operates in the furniture and fixtures industry with a market capitalization of $1.73 billion.

Operations: The company generates revenue primarily from its Furniture & Fixtures segment, with recent figures showing $2.69 billion in revenue. Over the observed periods, gross profit margin has fluctuated, reaching 33.62% at its peak and declining to 29.02%. Operating expenses have consistently impacted net income, which turned negative in the latest period with a net loss of $2 million.

PE: -922.6x

MasterBrand's recent insider confidence is evident as their CEO, President & Director purchased 60,000 shares for US$505,800. Despite a challenging first quarter with sales of US$618 million and a net loss of US$15.4 million compared to last year's profit, the company remains intriguing in the small-cap space due to its strategic board changes and growth forecasts. However, reliance on external borrowing poses risks, and shareholders have faced dilution over the past year.

Where To Now?

• Click through to start exploring the rest of the 56 Undervalued US Small Caps With Insider Buying now.
• Have you diversified into these companies? Leverage the power of Simply Wall St's portfolio to keep a close eye on market movements affecting your investments.
• Take control of your financial future using Simply Wall St, offering free, in-depth knowledge of international markets to every investor.

Ready To Venture Into Other Investment Styles?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
• Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management.
• Find companies with promising cash flow potential yet trading below their fair value.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.