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Potential Blue Foundry Bancorp (NASDAQ:BLFY) shareholders may wish to note that the Independent Chairman of the Board, Kenneth Grimbilas, recently bought US$200k worth of stock, paying US$11.75 for each share. That's a very solid buy in our book, and increased their holding by a noteworthy 43%.
Blue Foundry Bancorp Insider Transactions Over The Last Year
The Independent Director Jonathan Shaw made the biggest insider purchase in the last 12 months. That single transaction was for US$314k worth of shares at a price of US$14.36 each. That means that an insider was happy to buy shares at above the current price of US$12.69. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. We always take careful note of the price insiders pay when purchasing shares. It is generally more encouraging if they paid above the current price, as it suggests they saw value, even at higher levels.
Blue Foundry Bancorp insiders may have bought shares in the last year, but they didn't sell any. The chart below shows insider transactions (by companies and individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
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.
Insider Ownership of Blue Foundry Bancorp
For a common shareholder, it is worth checking how many shares are held by company insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. Our data suggests Blue Foundry Bancorp insiders own 1.3% of the company, worth about US$4.5m. We prefer to see high levels of insider ownership.
What Might The Insider Transactions At Blue Foundry Bancorp Tell Us?
It is good to see recent purchasing. 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. 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, 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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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.