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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Wednesday, Norwood Financial's Chairman of the Board, William W. Davis Jr., made a $45,072 buy of NWFL, purchasing 1,800 shares at a cost of $25.04 each. So far Davis Jr. is in the green, up about 1.9% on their buy based on today's trading high of $25.51. Norwood Financial is trading up about 3.2% on the day Monday.
And on Thursday, Director Julie G. Castle bought $44,731 worth of Sierra Bancorp, buying 2,000 shares at a cost of $22.37 each. Sierra Bancorp is trading off about 0.4% on the day Monday. Investors can snag BSRR at a price even lower than Castle did, with shares trading as low as $21.50 in trading on Monday which is 3.9% below Castle's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.