In a recent move, John J. Masterson, a board member at Bogota Financial Corp. (NASDAQ:BSBK), has increased his stake in the company. On May 2, 2024, Masterson purchased 1,192 shares of Bogota Financial Corp.'s common stock at a price of $6.70 per share, totaling approximately $7,986.
This transaction has bolstered Masterson's holdings to 173,776 shares, which includes restricted stock that vests at a rate of 20% per year beginning September 2, 2022. The purchase reflects Masterson's ongoing commitment to the company and adds to the pool of insider-held shares, an aspect that investors often monitor for indications of executive confidence in the company's prospects.
Bogota Financial Corp., headquartered in Teaneck, New Jersey, operates within the non-federally chartered savings institutions sector. As of the date of the report, no sales transactions were disclosed.
Investors and market watchers often look to insider transactions such as these for insights into the company's health and potential future performance. While Masterson's recent acquisition is just one of many factors that can influence Bogota Financial Corp.'s stock, it is a tangible sign of confidence from a key member of the company's leadership team.
InvestingPro Insights
Amidst the insider trading activity at Bogota Financial Corp. (NASDAQ:BSBK), investors are keen to understand the broader financial landscape of the company. John J. Masterson's increased investment in BSBK comes at a time when the company is navigating through a challenging market landscape, reflected in its current metrics and future projections.
From an InvestingPro standpoint, Bogota Financial Corp. has a market capitalization of $85.27 million, positioning it among the smaller players in its sector. The company's stock is trading near its 52-week low, which could potentially signal a buying opportunity for investors who believe in the company's long-term growth prospects. Despite the recent insider buying, the company's price has declined by nearly 19.9% over the last three months, indicating a period of bearish sentiment among investors.
On the financial performance front, Bogota Financial Corp. has not been profitable over the last twelve months, with a negative operating income margin of -7.52%. However, the InvestingPro Tips suggest that net income is expected to grow this year, and analysts predict the company will be profitable within the same timeframe. This juxtaposition of past performance and future expectations may offer a nuanced view for potential investors.
While BSBK does not pay a dividend, which might deter income-focused investors, its price-to-book ratio stands at 0.62, suggesting that the company's stock might be undervalued compared to the actual net asset value of the company. This could be an attractive metric for value investors seeking to capitalize on potential market corrections.
For investors seeking more comprehensive analysis and additional insights, there are currently 6 more InvestingPro Tips available for Bogota Financial Corp. at InvestingPro. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, which includes in-depth financial data, real-time alerts, and advanced portfolio analytics.
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