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Investors who take an interest in MVB Financial Corp. (NASDAQ:MVBF) should definitely note that the Executive VP & Chief Information Officer, Michael Giorgio, recently paid US$17.60 per share to buy US$100k worth of the stock. We reckon that's a good sign, especially since the purchase boosted their holding by 316%.
View our latest analysis for MVB Financial
The Last 12 Months Of Insider Transactions At MVB Financial
In fact, the recent purchase by Michael Giorgio was the biggest purchase of MVB Financial shares made by an insider individual in the last twelve months, according to our records. That means that an insider was happy to buy shares at above the current price of US$17.00. Their view may have changed since then, but at least it shows they felt optimistic at the time. To us, it's very important to consider the price insiders pay for shares. As a general rule, we feel more positive about a stock if insiders have bought shares at above current prices, because that suggests they viewed the stock as good value, even at a higher price.
MVB Financial 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. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
MVB Financial is not the only stock insiders are buying. So take a peek at this free list of under-the-radar companies with insider buying.
Does MVB Financial Boast High 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. Insiders own 8.4% of MVB Financial shares, worth about US$19m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.
What Might The Insider Transactions At MVB Financial Tell Us?
It is good to see recent purchasing. We also take confidence from the longer term picture of insider transactions. Given that insiders also own a fair bit of MVB Financial we think they are probably pretty confident of a bright future. If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future.
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.