In a recent move that signals confidence in the bank he helps oversee, Stauffer W. Randall, Director of QNB Corp (OTC:QNBC), acquired additional shares in the company. The transaction, dated July 1, 2024, involved the purchase of 170 shares of common stock at a price of $23.49 per share, amounting to a total value of $3,993.
This purchase is part of the company's 2023 Non-Employee Director Compensation Plan, as indicated in the footnotes of the SEC filing. The acquisition has increased Stauffer W. Randall's direct ownership in the company to 54,181.9356 shares of common stock.
QNB Corp, based in Quakertown, Pennsylvania, operates as a state commercial bank and is known for its community-focused banking services. Transactions like these are often viewed by investors as a sign of an insider's bullish outlook on the company's future prospects.
The transaction was officially signed off by David W Freeman, acting as Power of Attorney, on July 2, 2024. It's worth noting that insider transactions are closely monitored by investors for insights into a company's health and the confidence that executives and directors have in their firm's direction and management.
In other recent news, QNB Corp, the parent company of QNB Bank, announced a quarterly cash dividend of $0.37 per share. This dividend is set to be paid to shareholders on record as of June 14, 2024. This move follows QNB Corp's established practice of returning value to its shareholders, demonstrating the company's financial stability and commitment to its dividend policy. Further information regarding QNB Corp's financial activities can be found on the company's website. This announcement was made based on a press release statement from QNB Corp. These are some of the recent developments within the company.
InvestingPro Insights
In light of the recent insider share purchase by Director Stauffer W. Randall of QNB Corp, investors may find additional context in the company's financial metrics and performance. According to InvestingPro data, QNB Corp currently has a market capitalization of $86.16 million and a price-to-earnings (P/E) ratio of 10.83 based on the last twelve months as of Q1 2024. This modest P/E ratio suggests that the company's shares might be reasonably valued compared to earnings.
Delving deeper into the company's dividend history reveals a substantial commitment to shareholder returns. An InvestingPro Tip highlights that QNB Corp has not only maintained but raised its dividend for 28 consecutive years, demonstrating a stable and shareholder-friendly policy. The current dividend yield stands at an attractive 6.3%, as of mid-June 2024, which is significant for income-focused investors.
Moreover, QNB Corp's stock is characterized by low price volatility, an InvestingPro Tip that may appeal to conservative investors seeking stability in their investment portfolio. While the company's revenue has seen a decline of 14.73% over the last twelve months as of Q1 2024, the consistent dividend payments could be a sign of confidence from the management in the company's ability to navigate through challenging times.
For those interested in exploring further, there are additional InvestingPro Tips available for QNB Corp, providing deeper insights into the company's financial health and stock performance. Subscribers can take advantage of these tips and use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
Investors monitoring insider activities, like the recent purchase by Stauffer W. Randall, may find these metrics and tips particularly valuable when assessing the company's long-term value and stability.
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