Whilst it may not be a huge deal, we thought it was good to see that the Western New England Bancorp, Inc. (NASDAQ:WNEB) Independent Director, Donna Damon, recently bought US$96k worth of stock, for US$7.42 per share. That purchase might not be huge but it did increase their holding by 40%.
Western New England Bancorp Insider Transactions Over The Last Year
Notably, that recent purchase by Donna Damon is the biggest insider purchase of Western New England Bancorp shares that we've seen in the last year. That means that even when the share price was higher than US$6.56 (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. In our view, the price an insider pays 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.
In the last twelve months insiders purchased 28.45k shares for US$208k. But they sold 2911 shares for US$28k. Overall, Western New England Bancorp insiders were net buyers last year. The chart below shows insider transactions (by 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!
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.
Insider Ownership of Western New England Bancorp
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. From our data, it seems that Western New England Bancorp insiders own 4.9% of the company, worth about US$8.2m. Overall, this level of ownership isn't that impressive, but it's certainly better than nothing!
So What Do The Western New England Bancorp Insider Transactions Indicate?
It's certainly positive to see the recent insider purchases. We also take confidence from the longer term picture of insider transactions. While the overall levels of insider ownership are below what we'd like to see, the history of transactions imply that Western New England Bancorp insiders are reasonably well aligned, and optimistic for the future. While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. Case in point: We've spotted 2 warning signs for Western New England Bancorp you should be aware of.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting 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.
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