Yahoo Finance The Non-Executive Independent Chairman of Bank of Queensland Limited (ASX:BOQ), Patrick Newton Allaway, Just Bought 67% More Shares
Investors who take an interest in Bank of Queensland Limited (ASX:BOQ) should definitely note that the Non-Executive Independent Chairman, Patrick Newton Allaway, recently paid AU$9.11 per share to buy AU$182k worth of the stock. We reckon that's a good sign, especially since the purchase boosted their holding by 67%.
Check out our latest analysis for Bank of Queensland
The Last 12 Months Of Insider Transactions At Bank of Queensland
Notably, that recent purchase by Patrick Newton Allaway is the biggest insider purchase of Bank of Queensland shares that we've seen in the last year. That means that even when the share price was higher than AU$9.08 (the recent price), an insider wanted to purchase shares. Their view may have changed since then, but at least it shows they felt optimistic at the time. To us, it's very important to consider the price insiders pay for shares is very important. It is generally more encouraging if they paid above the current price, as it suggests they saw value, even at higher levels.
Bank of Queensland insiders may have bought shares in the last year, but they didn't sell any. The chart below shows insider transactions (by individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!
There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.
Does Bank of Queensland Boast High Insider Ownership?
Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. A high insider ownership often makes company leadership more mindful of shareholder interests. From looking at our data, insiders own AU$4.9m worth of Bank of Queensland stock, about 0.1% of the company. I generally like to see higher levels of ownership.
So What Do The Bank of Queensland Insider Transactions Indicate?
The recent insider purchase is heartening. And the longer term insider transactions also give us confidence. We would certainly prefer see higher levels of insider ownership but analysis of the insider transactions suggests that Bank of Queensland insiders are expecting a bright future. 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.
Of course Bank of Queensland may not be the best stock to buy. So you may wish to see this free collection of high quality companies.
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.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
If you spot an error that warrants correction, please contact the editor at editorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
