When a single insider purchases stock, it is typically not a major deal. However, when multiple insiders purchase stock, like in TrustCo Bank Corp NY's (NASDAQ:TRST) instance, it's good news for shareholders.
While insider transactions are not the most important thing when it comes to long-term investing, we would consider it foolish to ignore insider transactions altogether.
TrustCo Bank Corp NY Insider Transactions Over The Last Year
In the last twelve months, the biggest single purchase by an insider was when President Robert McCormick bought US$196k worth of shares at a price of US$31.63 per share. That implies that an insider found the current price of US$31.70 per share to be enticing. Of course they may have changed their mind. But this suggests they are optimistic. 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. Happily, the TrustCo Bank Corp NY insiders decided to buy shares at close to current prices.
TrustCo Bank Corp NY insiders may have bought shares in the last year, but they didn't sell any. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, 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).
Insiders at TrustCo Bank Corp NY Have Bought Stock Recently
It's good to see that TrustCo Bank Corp NY insiders have made notable investments in the company's shares. Overall, two insiders shelled out US$69k for shares in the company -- and none sold. This makes one think the business has some good points.
Does TrustCo Bank Corp NY Boast High Insider Ownership?
For a common shareholder, it is worth checking how many shares are held by company insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. TrustCo Bank Corp NY insiders own about US$17m worth of shares. That equates to 2.7% of the company. 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 Do The TrustCo Bank Corp NY Insider Transactions Indicate?
It's certainly positive to see the recent insider purchases. And the longer term insider transactions also give us confidence. Insiders likely see value in TrustCo Bank Corp NY shares, given these transactions (along with notable insider ownership of the company). Of course, the future is what matters most. So if you are interested in TrustCo Bank Corp NY, you should check out this free report on analyst forecasts for the company.
But note: TrustCo Bank Corp NY may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE 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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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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
