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Ronald Tascarella, retired Executive Vice President of Pathfinder Bancorp, Inc. (NASDAQ:PBHC), a $103.64 million market cap regional bank, recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Tascarella sold 42 shares of common stock at a price of $17.10 per share, totaling $718. The sale occurred near the stock’s current trading price of $16.99, following an impressive 49% gain over the past year. InvestingPro analysis suggests the stock is slightly overvalued at current levels. Following this transaction, Tascarella’s direct ownership stands at 47,339 shares.
In addition to his direct holdings, Tascarella maintains indirect ownership of shares through various accounts, including 9,690 shares by ESOP, 20,292 shares by 401K, and 5,000 shares by his spouse. The filing also notes an existing derivative position of 15,816 stock options with an exercise price of $11.35, which are set to expire in May 2026.
In other recent news, Pathfinder Bancorp, Inc. has announced a quarterly cash dividend of $0.10 per share for both its voting and non-voting common stock. This dividend also applies to a $0.10 per notional share for the issued warrant. The dividend is related to the fiscal quarter ending December 31, 2024. Shareholders recorded by January 17, 2025, will be eligible to receive the dividend on February 7, 2025. This announcement was made by James A. Dowd, President and CEO of Pathfinder Bancorp, Inc. The company noted that its forward-looking statements are based on current management expectations and highlighted various factors that could impact future earnings. These factors include economic conditions, interest rate changes, and real estate values.
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