TrustCo Bank Corp NY Insiders Added US$1.30m Of Stock To Their Holdings
It is usually uneventful when a single insider buys stock. However, When quite a few insiders buy shares, as it happened in TrustCo Bank Corp NY's (NASDAQ:TRST) 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.
View our latest analysis for TrustCo Bank Corp NY
TrustCo Bank Corp NY Insider Transactions Over The Last Year
Over the last year, we can see that the biggest insider purchase was by President Robert McCormick for US$124k worth of shares, at about US$27.80 per share. Even though the purchase was made at a significantly lower price than the recent price (US$31.60), we still think insider buying is a positive. Because it occurred at a lower valuation, it doesn't tell us much about whether insiders might find today's price attractive.
TrustCo Bank Corp NY insiders may have bought shares in the last year, but they didn't sell any. The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!
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).
Insiders At TrustCo Bank Corp NY Have Bought Stock Recently
Over the last quarter, TrustCo Bank Corp NY insiders have spent a meaningful amount on shares. Overall, six insiders shelled out US$111k for shares in the company -- and none sold. This is a positive in our book as it implies some confidence.
Insider Ownership Of TrustCo Bank Corp NY
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. It appears that TrustCo Bank Corp NY insiders own 3.3% of the company, 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 Does This Data Suggest About TrustCo Bank Corp NY Insiders?
It's certainly positive to see the recent insider purchases. And an analysis of the transactions over the last year also gives us confidence. Insiders likely see value in TrustCo Bank Corp NY shares, given these transactions (along with notable insider ownership of the company). In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing TrustCo Bank Corp NY. Every company has risks, and we've spotted 1 warning sign for TrustCo Bank Corp NY you should know about.
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 of direct interests only, but not derivative transactions or indirect interests.
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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.
