David Wight Is The Independent Director of Northrim BanCorp, Inc. (NASDAQ:NRIM) And They Just Picked Up 13% More Shares
Even if it's not a huge purchase, we think it was good to see that David Wight, the Independent Director of Northrim BanCorp, Inc. (NASDAQ:NRIM) recently shelled out US$94k to buy stock, at US$46.91 per share. That purchase might not be huge but it did increase their holding by 13%.
See our latest analysis for Northrim BanCorp
Northrim BanCorp Insider Transactions Over The Last Year
Notably, that recent purchase by David Wight is the biggest insider purchase of Northrim BanCorp shares that we've seen in the last year. That means that even when the share price was higher than US$45.50 (the recent price), an insider wanted to purchase shares. It's very possible they regret the purchase, but it's more likely they are bullish about the company. In our view, the price an insider pays for shares is very important. Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price.
Happily, we note that in the last year insiders paid US$491k for 11.06k shares. On the other hand they divested 1.49k shares, for US$82k. Overall, Northrim BanCorp insiders were net buyers during the last year. The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!
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).
Insider Ownership
For a common shareholder, it is worth checking how many shares are held by company insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. From our data, it seems that Northrim BanCorp insiders own 2.7% of the company, worth about US$7.0m. Whilst better than nothing, we're not overly impressed by these holdings.
So What Do The Northrim BanCorp Insider Transactions Indicate?
The recent insider purchases are 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 Northrim BanCorp 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.
But note: Northrim BanCorp 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.
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