Whilst it may not be a huge deal, we thought it was good to see that the Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Independent Director, Pamela Little, recently bought US$74k worth of stock, for US$20.79 per share. That purchase might not be huge but it did increase their holding by 16%.
Sandy Spring Bancorp Insider Transactions Over The Last Year
Over the last year, we can see that the biggest insider purchase was by Independent Director Craig Ruppert for US$350k worth of shares, at about US$25.98 per share. So it's clear an insider wanted to buy, even at a higher price than the current share price (being US$20.07). 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. 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 Sandy Spring Bancorp insiders were buying shares, but not selling. You can see the insider transactions (by 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!
Sandy Spring 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 Sandy Spring Bancorp
Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. It appears that Sandy Spring Bancorp insiders own 2.9% of the company, worth about US$28m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
What Might The Insider Transactions At Sandy Spring Bancorp Tell Us?
It's certainly positive to see the recent insider purchases. We also take confidence from the longer term picture of insider transactions. Given that insiders also own a fair bit of Sandy Spring Bancorp we think they are probably pretty confident of a bright future. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Sandy Spring Bancorp. You'd be interested to know, that we found 3 warning signs for Sandy Spring Bancorp and we suggest you have a look.
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.
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