QUAKERTOWN, PA – In a recent transaction dated July 1, 2024, Bayles Autumn R, a director at QNB Corp (OTC:QNBC), acquired additional shares of the company's common stock. The purchase, involving 170 shares at a price of $23.49 per share, amounted to a total investment of $3,993.
This move by Bayles Autumn R demonstrates a continued commitment to the company by increasing their stake in the firm. Following the transaction, the director now owns a total of 2,168.5845 shares in QNB Corp. It's noteworthy that this figure includes 62.1815 shares acquired through the dividend reinvestment plan, as indicated in the footnotes of the report.
Investors monitoring insider activities often view such purchases as a positive sign, reflecting the confidence that company executives and directors have in the future prospects of their organization. While the reasons behind an insider's decision to buy or sell shares can vary, transactions like these are always of interest to the investment community.
The acquisition of shares by Bayles Autumn R was disclosed in a Form 4 filing with the Securities and Exchange Commission. This document provides transparency into the trading activities of company insiders, ensuring that the public has access to this information.
QNB Corp, with its headquarters in Quakertown, Pennsylvania, operates within the state commercial banks sector. The company's common stock is traded on the OTC market under the trading symbol QNBC.
In other recent news, QNB Corp., the parent company of QNB Bank, has declared a quarterly cash dividend of $0.37 per share. This dividend is set to be paid out on June 28, 2024, to shareholders who are on record as of June 14, 2024. This declaration is part of QNB Corp's consistent practice of returning value to its shareholders, a reflection of the company's financial standing and adherence to its dividend policy. These recent developments emphasize the company's commitment to its shareholders and its financial activities. As always, more information about these developments and other financial activities can be found on the QNB Corp.'s website. This news is based on a press release statement from QNB Corp. itself.
InvestingPro Insights
As Bayles Autumn R shows a vote of confidence in QNB Corp (OTC:QNBC) through the recent stock purchase, investors may find additional context in the company's financial health and market performance valuable. QNB Corp has a history of rewarding shareholders, as evidenced by a dividend that has been raised for 13 consecutive years and maintained for 28 consecutive years, according to InvestingPro Tips. This consistent return to shareholders aligns with the director's recent investment decision.
From a market perspective, QNB Corp's current Market Cap stands at 86.16M USD. The company's P/E Ratio is noted at 10.6, reflecting investor sentiment on its earnings potential. Moreover, the Dividend Yield as of mid-June 2024 is 6.3%, highlighting the significant dividend payout mentioned in the InvestingPro Tips. With a Price / Book ratio of 0.92 as of the last twelve months leading up to Q1 2024, the stock is potentially undervalued, which could be an attractive point for investors seeking value stocks.
Investors considering QNB Corp can explore additional metrics and insights, including 5 more InvestingPro Tips, to help make informed decisions. For those interested, use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription to gain access to these valuable insights.
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