Director Shaun Mahoney of Pioneer Bancorp, Inc./MD (NASDAQ:PBFS), a savings institution not federally chartered, has purchased 4,500 shares of the company's common stock at $10.41 per share, totaling approximately $46,845. This transaction was disclosed in a recent regulatory filing with the SEC.
Mahoney's purchase was made on June 13, 2024, and following this transaction, the director now directly owns 4,500 shares in the company. Additionally, the filing revealed that Mahoney indirectly holds 10,150 shares of Pioneer Bancorp's common stock, which includes restricted stock that will vest at a rate of 20% per year starting from May 21, 2025.
The same filing also noted that Mahoney has 25,000 stock options that will vest at the same rate, beginning on the same date. These options have an exercise price of $9.39 and are set to expire on May 21, 2034.
The recent purchase by the director demonstrates a commitment to the company and adds to the insider ownership of Pioneer Bancorp's shares. For investors, insider transactions such as these can often be seen as a signal of confidence in the company's prospects.
This latest move by a member of Pioneer Bancorp's board is part of the ongoing financial developments within the company, which stakeholders and potential investors may want to follow closely as part of their assessment of the company's performance and stock potential.
InvestingPro Insights
Following Director Shaun Mahoney's recent purchase of Pioneer Bancorp, Inc./MD (NASDAQ:PBFS) shares, the company's financial metrics and performance indicators provide additional context for investors. According to InvestingPro data, Pioneer Bancorp has a market capitalization of $252.01 million and a P/E ratio of 15.94, which suggests a moderate valuation relative to earnings. Notably, the company's price/book ratio as of the last twelve months ending Q3 2024 stands at 0.87, indicating that the stock may be undervalued based on its book value.
In terms of performance, InvestingPro Tips highlight that Pioneer Bancorp has experienced a strong return over the last month, with a 12.6% price total return, reflecting a positive sentiment among investors. Additionally, the company has been profitable over the last twelve months. However, it is important to note that Pioneer Bancorp does not pay a dividend, which might influence the investment strategy of income-focused shareholders.
While the company's gross profit margins have been identified as a weak point, the recent insider purchase could be interpreted as a sign of confidence in Pioneer Bancorp's ability to overcome this challenge. For investors seeking a more comprehensive analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/PBFS. To access these insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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