Multiple insiders bought ConnectOne Bancorp, Inc. (NASDAQ:CNOB) stock earlier this year, a positive sign for shareholders
It is usually uneventful when a single insider buys stock. However, When quite a few insiders buy shares, as it happened in ConnectOne Bancorp, Inc.'s (NASDAQ:CNOB) case, it's fantastic news for shareholders.
While we would never suggest that investors should base their decisions solely on what the directors of a company have been doing, logic dictates you should pay some attention to whether insiders are buying or selling shares.
Check out our latest analysis for ConnectOne Bancorp
ConnectOne Bancorp Insider Transactions Over The Last Year
The Lead Independent Director Stephen Boswell made the biggest insider purchase in the last 12 months. That single transaction was for US$200k worth of shares at a price of US$33.35 each. That means that even when the share price was higher than US$23.80 (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. As a general rule, we feel more positive about a stock if insiders have bought shares at above current prices, because that suggests they viewed the stock as good value, even at a higher price.
In the last twelve months insiders purchased 15.75k shares for US$475k. But they sold 2.81k shares for US$92k. Overall, ConnectOne Bancorp insiders were net buyers during the last year. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!
ConnectOne Bancorp is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.
Does ConnectOne Bancorp Boast High 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 ConnectOne Bancorp insiders own 10% of the company, worth about US$95m. 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 Does This Data Suggest About ConnectOne Bancorp Insiders?
It doesn't really mean much that no insider has traded ConnectOne Bancorp shares in the last quarter. However, our analysis of transactions over the last year is heartening. Overall we don't see anything to make us think ConnectOne Bancorp insiders are doubting the company, and they do own shares. Of course, the future is what matters most. So if you are interested in ConnectOne Bancorp, you should check out this free report on analyst forecasts for the company.
Of course ConnectOne Bancorp 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, 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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