Trade Alert: The Independent Director Of Codorus Valley Bancorp, Inc. (NASDAQ:CVLY), John Giambalvo, Has Just Spent US$100k Buying 16% More Shares
Whilst it may not be a huge deal, we thought it was good to see that the Codorus Valley Bancorp, Inc. (NASDAQ:CVLY) Independent Director, John Giambalvo, recently bought US$100k worth of stock, for US$21.52 per share. While we're hesitant to get too excited about a purchase of that size, we do note it increased their holding by a solid 16%.
See our latest analysis for Codorus Valley Bancorp
Codorus Valley Bancorp Insider Transactions Over The Last Year
Notably, that recent purchase by Independent Director John Giambalvo was not the only time they bought Codorus Valley Bancorp shares this year. They previously made an even bigger purchase of US$100k worth of shares at a price of US$21.35 per share. That means that an insider was happy to buy shares at around the current price of US$21.55. 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 do always like to see insider buying, but it is worth noting if those purchases were made at well below today's share price, as the discount to value may have narrowed with the rising price. The good news for Codorus Valley Bancorp share holders is that insiders were buying at near the current price.
Over the last year, we can see that insiders have bought 14.50k shares worth US$304k. But they sold 4.09k shares for US$88k. Overall, Codorus Valley Bancorp insiders were net buyers during the last year. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. By clicking on the graph below, you can see the precise details of each insider transaction!
Codorus Valley 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
Many investors like to check how much of a company is owned by insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. From our data, it seems that Codorus Valley Bancorp insiders own 4.1% of the company, worth about US$8.4m. We do generally prefer see higher levels of insider ownership.
So What Does This Data Suggest About Codorus Valley Bancorp Insiders?
Our data shows a little insider buying, but no selling, in the last three months. That said, the purchases were not large. On a brighter note, the transactions over the last year are encouraging. The transactions are fine but it'd be more encouraging if Codorus Valley Bancorp insiders bought more shares in the company. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Codorus Valley Bancorp. While conducting our analysis, we found that Codorus Valley Bancorp has 1 warning sign and it would be unwise to ignore this.
Of course Codorus Valley 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.
