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Insider Buying: Michael Peduzzi Just Spent US$121k On CNB Financial Corporation (NASDAQ:CCNE) Shares

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Investors who take an interest in CNB Financial Corporation (NASDAQ:CCNE) should definitely note that insider Michael Peduzzi recently paid US$24.18 per share to buy US$121k worth of the stock. However, it only increased shareholding by a small percentage, and it wasn't a huge purchase by absolute value, either.

Check out our latest analysis for CNB Financial

The Last 12 Months Of Insider Transactions At CNB Financial

Over the last year, we can see that the biggest insider purchase was by Independent Director Nicholas Scott for US$112m worth of shares, at about US$24,307 per share. So it's clear an insider wanted to buy, even at a higher price than the current share price (being US$24.02). 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. 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.

While CNB Financial insiders bought shares during the last year, they didn't sell. They paid about US$5,737 on average. I'd consider this a positive as it suggests insiders see value at around the current price. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

insider-trading-volume
insider-trading-volume

CNB Financial 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 CNB Financial

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. Insiders own 4.9% of CNB Financial shares, worth about US$20m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.

So What Do The CNB Financial Insider Transactions Indicate?

The recent insider purchase is heartening. And an analysis of the transactions over the last year also gives us confidence. When combined with notable insider ownership, these factors suggest CNB Financial insiders are well aligned, and that they may think the share price is too low. Of course, the future is what matters most. So if you are interested in CNB Financial, 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.

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.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.