Tuesday 1/30 Insider Buying Report: VLY, CZFC Tuesday, January 30, 10:51 AM ET
Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Valley National Bancorp (VLY), a filing with the SEC revealed that on Monday, Director Peter J. Baum bought 3,433 shares of VLY, at a cost of $12.70 each, for a total investment of $43,613. Valley National Bancorp is trading off about 0.7% on the day Tuesday. This buy marks the first one filed by Baum in the past twelve months.
And at Citizens First Corp. (CZFC), there was insider buying on Thursday, by Director Kent E. Furlong who bought 1,000 shares at a cost of $24.25 each, for a trade totaling $24,250. Citizens First Corp. is trading up about 1.2% on the day Tuesday. Furlong was up about 1.0% on the buy at the high point of today's trading session, with CZFC trading as high as $24.50 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.
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