Charles Reeves Bought 9.1% More Shares In MidWestOne Financial Group
Even if it's not a huge purchase, we think it was good to see that Charles Reeves, the CEO & Director of MidWestOne Financial Group, Inc. (NASDAQ:MOFG) recently shelled out US$100k to buy stock, at US$22.49 per share. Although the purchase is not a big one, increasing their shareholding by only 9.1%, it can be interpreted as a good sign.
View our latest analysis for MidWestOne Financial Group
MidWestOne Financial Group Insider Transactions Over The Last Year
Notably, that recent purchase by CEO & Director Charles Reeves was not the only time they bought MidWestOne Financial Group shares this year. Earlier in the year, they paid US$18.85 per share in a US$103k purchase. Although we like to see insider buying, we note that this large purchase was at significantly below the recent price of US$22.58. Because it occurred at a lower valuation, it doesn't tell us much about whether insiders might find today's price attractive.
In the last twelve months MidWestOne Financial Group insiders were buying shares, but not selling. 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!
MidWestOne Financial Group is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
Insider Ownership
Many investors like to check how much of a company is owned by insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. It appears that MidWestOne Financial Group insiders own 8.9% of the company, worth about US$31m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
What Might The Insider Transactions At MidWestOne Financial Group Tell Us?
It's certainly positive to see the recent insider purchase. And the longer term insider transactions also give us confidence. Insiders likely see value in MidWestOne Financial Group shares, given these transactions (along with notable insider ownership of the company). So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. Case in point: We've spotted 1 warning sign for MidWestOne Financial Group you should be aware of.
Of course MidWestOne Financial Group 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 of direct interests only, but not derivative transactions or indirect interests.
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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.
