QUAKERTOWN, PA – In a recent transaction on July 1, Scott R. Stevenson, director of QNB Corp (OTCMKTS:QNBC), acquired additional shares in the company. Stevenson purchased 170 shares of common stock at a price of $23.49 per share, amounting to a total investment of $3,993.
This purchase increases Stevenson's direct ownership in the state commercial bank to 1,546.6989 shares. Notably, this figure includes 42.8331 shares obtained through the dividend reinvestment plan, as indicated in the footnotes of the filing.
QNB Corp, headquartered in Quakertown, PA, operates within the banking industry, providing a range of financial services. The transaction, reported in a regulatory filing with the Securities and Exchange Commission (SEC), reflects continued confidence by Stevenson in the financial institution's prospects.
Shareholders often monitor insider transactions as they can provide insights into the executives' perspectives on the company's valuation and future performance. Stevenson's acquisition of QNB Corp shares aligns with this view, signaling potential optimism about the company's trajectory.
Investors tracking QNB Corp's market activity will note this transaction as part of the ongoing financial developments within the company. As of the latest reports, QNB Corp's shares continue to be traded on the OTCMKTS under the ticker symbol QNBC.
In other recent news, QNB Corp, the parent company of QNB Bank, has announced a quarterly cash dividend of $0.37 per share, continuing its practice of returning value to its shareholders. The dividend is due to be paid to shareholders who are on record as of June 14, 2024. This move is reflective of the company's financial position and commitment to its dividend policy. As per the company's announcement, these are recent developments that may interest investors and those following QNB Corp's financial activities. While the company's shares are traded over-the-counter, this information is not linked to the stock's performance. Please note that this article does not contain any predictions or personal opinions, but rather, it is based on the factual information provided by QNB Corp.
InvestingPro Insights
In light of recent insider transactions at QNB Corp (OTCMKTS:QNBC), where director Scott R. Stevenson increased his stake in the company, investors may be seeking additional context to gauge the investment's potential. According to InvestingPro data, QNB Corp has a market capitalization of $86.16 million, with a price-to-earnings (P/E) ratio of 10.6, which has slightly increased to 10.83 over the last twelve months as of Q1 2024. This valuation suggests that the company is trading at a level that may be attractive to value-oriented investors.
A noteworthy InvestingPro Tip for QNB Corp is its track record of returning value to shareholders through dividends. The company has not only maintained dividend payments for 28 consecutive years but has also raised its dividend for 13 consecutive years. This consistency reflects a commitment to shareholder returns, complemented by a significant dividend yield of 6.3% as of mid-2024. Additionally, the stock generally trades with low price volatility, which may appeal to investors looking for stability in their portfolio.
While investors like Stevenson may find these factors encouraging, it's also essential to consider the company's financial health. QNB Corp has experienced a revenue decline of 14.73% over the last twelve months as of Q1 2024, with a quarterly revenue drop of 10.05% in Q1 2024. Despite this, the company has managed to maintain a gross profit equal to its revenue at $44.48 million and an operating income margin of 24.66%. This could indicate efficient cost management even amidst revenue challenges.
For investors interested in a deeper analysis of QNBC and its financials, there are additional InvestingPro Tips available. These tips delve into aspects such as profitability, which is reinforced by the company's positive performance over the last twelve months. To access these insights and more, visit https://www.investing.com/pro/QNBC and consider using the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription. Currently, there are 5 more InvestingPro Tips listed that can provide investors with a comprehensive understanding of QNB Corp's financial landscape.
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