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In a current transaction, Ranajoy Ray-Chaudhuri, a director at QNB Corp (OTC:QNBC), acquired further shares of the corporate’s inventory. On July 1, 2024, Ray-Chaudhuri bought 170 shares of widespread inventory at a value of $23.49 per share, amounting to a complete funding of $3,993.
The acquisition was made below the 2023 Non-Worker Director Compensation Plan, as indicated by the footnotes within the submitting. Following this transaction, Ray-Chaudhuri’s possession in QNB Corp has elevated to a complete of 1,297 shares of widespread inventory.
Traders usually monitor insider transactions resembling these to realize insights into the arrogance ranges of firm executives and administrators relating to the agency’s prospects. The acquisition of shares by an organization insider could be seen as an indication of constructive sentiment in direction of the corporate’s future efficiency.
The small print of the transaction had been disclosed in a Type 4 submitting with the Securities and Alternate Fee, which supplies info on the trades made by the corporate’s insiders. The submitting was signed by David W Freeman, appearing as Energy of Legal professional, and was dated July 2, 2024.
QNB Corp, primarily based in Quakertown, Pennsylvania, operates as a state business financial institution and is part of the monetary sector. The corporate’s widespread inventory is traded on the OTC market below the ticker image QNBC.
In different current information, QNB Corp., the mum or dad firm of QNB Financial institution, has introduced a quarterly money dividend of $0.37 per share, underscoring the corporate’s ongoing dedication to returning worth to shareholders. The dividend shall be paid to shareholders on report as of mid-June 2024. This growth displays the corporate’s monetary place and adherence to its dividend coverage. You will need to notice that these are current developments and additional info could be accessed on QNB Corp.’s web site. The announcement was made by means of a press launch assertion from QNB Corp. This information supplies traders with an replace on the corporate’s monetary actions and its strategy in direction of shareholder worth.
InvestingPro Insights
Following the current insider share buy by director Ranajoy Ray-Chaudhuri, QNB Corp’s monetary stability and shareholder worth benefit a more in-depth look. In accordance with InvestingPro, QNB Corp has demonstrated a dedication to its shareholders, sustaining a observe report of dividend funds for a powerful 28 consecutive years and presently providing a considerable dividend yield of 6.3%. This sustained dividend fee historical past, particularly within the context of the director’s elevated funding, might sign confidence within the firm’s ongoing capacity to generate shareholder worth.
InvestingPro information additional reveals that QNB Corp holds a market capitalization of $86.16 million, with a price-to-earnings (P/E) ratio of 10.83 primarily based on the final twelve months as of Q1 2024. This P/E ratio positions the corporate in a positive mild in comparison with business averages, doubtlessly indicating an undervalued inventory, particularly when mixed with a value/ebook ratio of 0.92, suggesting that the corporate’s property are doubtlessly undervalued on the steadiness sheet.
Regardless of a discount in income progress by 14.73% during the last twelve months as of Q1 2024, the corporate’s inventory has been characterised by low value volatility, an InvestingPro Tip which will enchantment to risk-averse traders. For these enthusiastic about gaining extra insights and exploring further ideas, there are 5 extra InvestingPro Ideas accessible, which could be accessed with the promo code PRONEWS24 for as much as 10% off a yearly Professional and a yearly or biyearly Professional+ subscription.
This text was generated with the assist of AI and reviewed by an editor. For extra info see our T&C.
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