We recently published a list of 10 Top Insider Stock Buys And Sells In January. In this article, we are going to take a look at where QNB Corp (OTC:QNBC) stands against other top insider stock buys and sells in January.
Ever heard of the “January effect?” In case you haven’t, a “January effect” is considered a phenomenon in the stock market where stock prices, most commonly of small-cap stocks, rise in the month of January. Analysts have noticed the pattern and provided various explanations for it.
Some attribute the January rise in price to tax-loss harvesting, which usually happens between October and December. The theory suggests that after investors have sold some of their stocks at the end of the year for tax purposes, investors search for new buying opportunities. Others believe that year-end bonuses lead to more investments which subsequently increases stock prices. Overall, whatever the reasons, January seems to be a favorable part of the year for the stock market.
This January, the broader market index went up 2.93%. But, what are some of the stocks that have seen the most insider trading activity this month? To find out, we used Insider Monkey’s insider trading stock screener and looked for stocks with a minimum of five insiders buying or selling in January.
Why should we be interested in insider trading activity? While both insider selling and buying can be driven by various motives, it is important to consider these moves within the broader context of the company’s fundamentals, industry trends, and overall market conditions. That’s why due diligence before any investment is of the utmost importance. However, insider trading activity in combination with other relevant determinants can offer valuable insights into a company’s capabilities, helping investors make more informed investment decisions.
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QNB Corp (OTCMKTS:QNBC)
Number of insiders buying: 9
Market Cap: $125.71 million
QNB Corp is a bank holding company for QNB Bank, which offers commercial and retail banking and brokerage services. Among QNB Bank’s various deposit products are demand and saving accounts, such as interest-bearing demand, and traditional statement savings, among others. The company also provides securities and advisory services.
On January 2, nine insiders acquired a total of around $35,717 worth of QNB shares at a price of $33.92 per share. The stock is currently trading at $34.10, having gained 0.53% year-to-date and 39.18% over the last 12 months. With so much insider trading activity in January, QNB Corp is also one of the 10 Stocks Insiders Are Buying This Year.
For the fourth quarter of 2024, QNB Corp disclosed net income of $3.05 million or $0.83 per diluted share. This compares to net income of $1.13 million or $0.31 per share on a diluted basis, for the same quarter of the prior year. As of December 31, 2024, total assets stood at $1.87 billion compared with $1.71 billion on December 31, 2023.
This is also a dividend-paying stock, with the last dividend payment of $0.37 per share in December.
Currently, there is not much analyst coverage on QNB stock.
Overall, QNBC ranks 9th on our list of top insider stock buys and sells in January. While we acknowledge the potential of QNBC, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than QNBC but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap
Disclosure: None. This article is originally published at Insider Monkey.
