Director Randy Bimes Acquires 17,437 Shares of QNB Corp (QNBC)
QNB Corp (OTCPK:QNBC), a community bank headquartered in Quakertown, Pennsylvania, has reported an insider purchase by Director Randy Bimes. According to a recent SEC filing, the insider acquired 17,437 shares of the company on March 11, 2024. This transaction has added to the series of insider trades over the past year, reflecting a trend of consistent insider confidence in the company's stock.QNB Corp operates as the bank holding company for QNB Bank, which provides retail and commercial banking services in Pennsylvania. The bank's offerings include various deposit and loan products, as well as other financial services.Randy Bimess recent acquisition is part of a larger pattern of insider trading activity at QNB Corp. Over the past year, the insider has purchased a total of 111,184 shares and has not sold any shares. This pattern is consistent with the overall insider trend at QNB Corp, which has seen 30 insider buys and no insider sells over the same period.
The stock's valuation metrics provide context for the insider's purchase. On the day of the transaction, shares of QNB Corp were trading at $23.95, resulting in a market cap of $88.284 million. The price-earnings ratio stood at 6.30, which is below both the industry median of 9.34 and the company's historical median price-earnings ratio.Furthermore, the price-to-GF-Value ratio of 0.73 suggests that QNB Corp is modestly undervalued. The GF Value of $32.78, compared to the trading price of $23.95, indicates that the stock may have room for appreciation based on GuruFocus's intrinsic value estimate.
The GF Value is determined by considering historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates provided by Morningstar analysts.The recent insider purchase by Director Randy Bimes may signal a belief in the potential undervaluation and future prospects of QNB Corp. Investors often monitor insider buying activity as it can provide insights into the company's internal expectations and valuation assessments.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
