TrustCo Bank Corp NY Insiders Added US$1.3m Of Stock To Their Holdings
Generally, when a single insider buys stock, it is usually not a big deal. However, when several insiders are buying, like in the case of TrustCo Bank Corp NY (NASDAQ:TRST), it sends a favourable message to the company's 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 TrustCo Bank Corp NY
The Last 12 Months Of Insider Transactions At TrustCo Bank Corp NY
The President Robert McCormick made the biggest insider purchase in the last 12 months. That single transaction was for US$124k worth of shares at a price of US$27.80 each. That means that an insider was happy to buy shares at around the current price of US$28.71. 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 TrustCo Bank Corp NY share holders is that insiders were buying at near the current price.
TrustCo Bank Corp NY insiders may have bought shares in the last year, but they didn't sell any. The average buy price was around US$31.83. These transactions suggest that insiders have considered the current price attractive. 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!
There are always plenty of stocks that insiders are buying. So if that suits your style you could check each stock one by one or you could take a look at this free list of companies. (Hint: insiders have been buying them).
TrustCo Bank Corp NY Insiders Bought Stock Recently
It's good to see that TrustCo Bank Corp NY insiders have made notable investments in the company's shares. In total, insiders bought US$449k worth of shares in that time, and we didn't record any sales whatsoever. This makes one think the business has some good points.
Insider Ownership
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. TrustCo Bank Corp NY insiders own about US$17m worth of shares. That equates to 3.1% of the company. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
So What Do The TrustCo Bank Corp NY Insider Transactions Indicate?
The recent insider purchases are heartening. And an analysis of the transactions over the last year also gives us confidence. When combined with notable insider ownership, these factors suggest TrustCo Bank Corp NY insiders are well aligned, and that they may think the share price is too low. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing TrustCo Bank Corp NY. While conducting our analysis, we found that TrustCo Bank Corp NY has 1 warning sign and it would be unwise to ignore it.
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.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.
Join A Paid User Research Session
You’ll receive a US$30 Amazon Gift card for 1 hour of your time while helping us build better investing tools for the individual investors like yourself. Sign up here
