Yahoo Finance Bullish insiders bet US$651k on TrustCo Bank Corp NY (NASDAQ:TRST)
It is usually uneventful when a single insider buys stock. However, When quite a few insiders buy shares, as it happened in TrustCo Bank Corp NY's (NASDAQ:TRST) case, it's fantastic news for shareholders.
While insider transactions are not the most important thing when it comes to long-term investing, we do think it is perfectly logical to keep tabs on what insiders are doing.
View our latest analysis for TrustCo Bank Corp NY
TrustCo Bank Corp NY Insider Transactions Over The Last Year
In the last twelve months, the biggest single purchase by an insider was when President Robert McCormick bought US$196k worth of shares at a price of US$31.63 per share. That means that an insider was happy to buy shares at above the current price of US$29.85. It's very possible they regret the purchase, but it's more likely they are bullish about the company. We always take careful note of the price insiders pay when purchasing shares. It is generally more encouraging if they paid above the current price, as it suggests they saw value, even at higher levels.
TrustCo Bank Corp NY insiders may have bought shares in the last year, but they didn't sell any. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
There are always plenty of stocks that insiders are buying. So if that suits your style you could check each stock one by one or you could take a look at this free list of companies. (Hint: insiders have been buying them).
Insiders at TrustCo Bank Corp NY Have Bought Stock Recently
Over the last quarter, TrustCo Bank Corp NY insiders have spent a meaningful amount on shares. Overall, two insiders shelled out US$69k for shares in the company -- and none sold. This is a positive in our book as it implies some confidence.
Does TrustCo Bank Corp NY Boast High Insider Ownership?
Many investors like to check how much of a company is owned by insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. It appears that TrustCo Bank Corp NY insiders own 2.7% of the company, worth about US$16m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.
So What Does This Data Suggest About TrustCo Bank Corp NY Insiders?
It is good to see recent purchasing. And the longer term insider transactions also give us confidence. Insiders likely see value in TrustCo Bank Corp NY shares, given these transactions (along with notable insider ownership of the company). If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future.
But note: TrustCo Bank Corp NY may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
