QNB Corp (OTC:QNBC) director Jennifer L. Mann has acquired additional shares in the company, according to a recent filing with the Securities and Exchange Commission. The transactions, which took place on June 28 and July 1, show Mann purchasing a total of 517.6749 shares of QNB Corp's common stock.
The first transaction on June 28 involved the purchase of 347.6749 shares at a price of $23.01 each. A subsequent acquisition on July 1 saw Mann buying 170 shares at a higher price point of $23.49 per share. The total investment for these purchases amounted to nearly $12,000, highlighting a confident stake in the company's performance.
The shares bought on July 1 were issued under the 2023 Non-Employee Director Compensation Plan, as noted in the footnotes of the filing. Additionally, the total shares owned following these transactions include 116.3646 shares acquired through the Dividend Reinvestment Plan.
Mann's recent buying activity may be of interest to investors monitoring insider transactions as an indicator of the company's health and the confidence of its board members. As of the latest filing, Mann directly holds 7,870.6604 shares in QNB Corp.
Investors often look to the buying and selling patterns of company insiders to gauge potential future performance. While these transactions provide a snapshot of Mann's investment moves, the broader market will continue to assess QNB Corp's financial health through its quarterly and annual reports, as well as market conditions and industry trends.
In other recent news, QNB Corp has declared a quarterly cash dividend of $0.37 per share. This dividend is set to be paid out to shareholders who are on record as of June 14, 2024, with the payment date scheduled for June 28, 2024. This declaration continues QNB Corp's established practice of returning value to its shareholders, indicative of the company's financial position and commitment to its dividend policy. These are among the latest developments for QNB Corp, which operates through its subsidiary QNB Bank. The dividend announcement is based on a press release statement from QNB Corp, providing valuable insights into the company's recent financial activities. This information is crucial for investors, emphasizing the company's ongoing commitment to shareholder value.
InvestingPro Insights
As investors consider the implications of insider buying activity at QNB Corp (OTC:QNBC), it's worth noting the company's financial metrics and market outlook. QNB Corp has demonstrated a commitment to shareholder returns, as evidenced by its 28-year streak of maintaining dividend payments and a 13-year run of raising dividends. The company's dividend yield stands at a notable 6.3%, which is a significant return for shareholders looking for income-generating investments.
On the valuation front, QNB Corp presents a relatively low P/E ratio of 10.83 based on the last twelve months as of Q1 2024, suggesting that the stock could be undervalued compared to the earnings it generates. Additionally, the Price/Book ratio of 0.92 indicates that the stock is trading below its book value, which could attract value investors seeking assets priced below their intrinsic value.
While the company's revenue has seen a decline of 14.73% over the last twelve months as of Q1 2024, the insider transactions by director Jennifer L. Mann may signal confidence in the company's ability to navigate through current market conditions. The InvestingPro Tips highlight that QNB Corp has maintained profitability over the last year and generally trades with low price volatility, providing some stability in an uncertain market environment.
For investors looking for more in-depth analysis and additional insights, there are 6 more InvestingPro Tips available for QNB Corp at Investing.com/pro/QNBC. Use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, which could provide valuable guidance for those monitoring QNB Corp's financial journey.
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