Bullish Blue Foundry Bancorp (NASDAQ:BLFY) insiders filled their treasuries with US$1.5m worth of stock over last year
Usually, when one insider buys stock, it might not be a monumental event. But when multiple insiders are buying like they did in the case of Blue Foundry Bancorp (NASDAQ:BLFY), that sends out a positive message to the company's shareholders.
Although we don't think shareholders should simply follow insider transactions, we do think it is perfectly logical to keep tabs on what insiders are doing.
Check out our latest analysis for Blue Foundry Bancorp
Blue Foundry Bancorp Insider Transactions Over The Last Year
In the last twelve months, the biggest single purchase by an insider was when Independent Director Jonathan Shaw bought US$314k worth of shares at a price of US$14.36 per share. So it's clear an insider wanted to buy, at around the current price, which is US$14.38. Of course they may have changed their mind. But this suggests they are optimistic. While we always like to see insider buying, it's less meaningful if the purchases were made at much lower prices, as the opportunity they saw may have passed. The good news for Blue Foundry Bancorp share holders is that insiders were buying at near the current price.
While Blue Foundry Bancorp insiders bought shares during the last year, they didn't sell. The chart below shows insider transactions (by companies and individuals) over the last year. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
Blue Foundry Bancorp is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.
Insiders at Blue Foundry Bancorp Have Bought Stock Recently
Over the last three months, we've seen significant insider buying at Blue Foundry Bancorp. Overall, four insiders shelled out US$231k for shares in the company -- and none sold. This makes one think the business has some good points.
Insider Ownership of Blue Foundry Bancorp
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. Based on our data, Blue Foundry Bancorp insiders have about 1.2% of the stock, worth approximately US$4.4m. We consider this fairly low insider ownership.
So What Does This Data Suggest About Blue Foundry Bancorp Insiders?
It's certainly positive to see the recent insider purchases. And an analysis of the transactions over the last year also gives us confidence. However, we note that the company didn't make a profit over the last twelve months, which makes us cautious. While the overall levels of insider ownership are below what we'd like to see, the history of transactions imply that Blue Foundry Bancorp insiders are reasonably well aligned, and optimistic for the future. Of course, the future is what matters most. So if you are interested in Blue Foundry Bancorp, you should check out this free report on analyst forecasts for the company.
If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity 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.
