Kenneth F. Brown Jr., a director of QNB Corp, the Pennsylvania-based state commercial bank, has recently acquired additional shares of the company. On July 1, 2024, Brown purchased 170 shares of QNB Corp (OTC:QNBC) common stock at a price of $23.49 per share, amounting to a total investment of $3,993.
This transaction was disclosed in a filing with the Securities and Exchange Commission and represents an increase in Brown's holdings in the company's stock. Following this purchase, Brown now directly owns a total of 150,597 shares of QNB Corp. The shares were issued under the company's 2023 Non-Employee Director Compensation Plan.
Investors often monitor insider transactions such as these for insights into the confidence that company executives and directors have in the financial health and future prospects of their organizations. Insider purchases can be seen as a positive sign that those with the most knowledge of the company believe in its value and potential for growth.
QNB Corp, headquartered in Quakertown, Pennsylvania, operates as a state commercial bank and provides various banking products and services. The company's stock is traded over the counter under the ticker symbol QNBC.
The recent transaction by Director Kenneth Brown underscores ongoing insider activity within the company and provides investors with additional data points to consider when evaluating their investment decisions in QNB Corp.
In other recent news, QNB Corp., the parent company of QNB Bank, has made significant strides. The company announced a quarterly cash dividend of $0.37 per share, scheduled to be paid to shareholders on record as of June 14, 2024. This development is in line with QNB Corp.'s ongoing practice of returning value to its shareholders, demonstrating the company's financial position and commitment to its dividend policy. These recent developments underscore QNB Corp.'s consistent efforts to maintain its financial health and commitment to shareholder value. As always, investors and interested parties can find more information on QNB Corp.'s financial activities on the company's website. This information is based on a press release statement from QNB Corp. Remember, this article provides an update on recent events and does not offer any predictions or personal opinions.
InvestingPro Insights
Director Kenneth F. Brown Jr.'s recent purchase of QNB Corp shares coincides with several positive indicators for the company, as highlighted by InvestingPro Tips. Notably, QNB Corp has a track record of rewarding its shareholders, having raised its dividend for 13 consecutive years and maintained dividend payments for 28 consecutive years. These consistent dividend payments are a testament to the company's financial resilience and commitment to shareholder returns.
In terms of financial metrics, QNB Corp's market capitalization stands at $86.16 million, with a Price/Earnings (P/E) ratio of 10.83 as of the last twelve months leading up to Q1 2024. This suggests a valuation that may appeal to value investors looking for potentially undervalued stocks. Additionally, the company offers a robust dividend yield of 6.3%, which is particularly attractive for income-focused investors.
Despite a revenue decline of 14.73% over the last twelve months as of Q1 2024, the company has managed to maintain a solid operating income margin of 24.66%. This indicates efficient management and the ability to generate profits even in challenging revenue conditions. Moreover, the company's stock has experienced a price total return of 8.78% over the past year, suggesting resilience in share price performance.
For investors seeking further insights, InvestingPro offers a wealth of additional tips on QNB Corp, which can be accessed at: https://www.investing.com/pro/QNBC. Interested users can also take advantage of a special offer using the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, providing even more in-depth analysis and data to guide investment decisions.
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