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Valley National Bancorp (NASDAQ:VLY) shareholders (or potential shareholders) will be happy to see that the Independent Director, Jennifer Steans, recently bought a whopping US$515k worth of stock, at a price of US$10.29. While that only increased their holding size by 1.3%, it is still a big swing by our standards.
Check out our latest analysis for Valley National Bancorp
The Last 12 Months Of Insider Transactions At Valley National Bancorp
Notably, that recent purchase by Jennifer Steans is the biggest insider purchase of Valley National Bancorp shares that we've seen in the last year. So it's clear an insider wanted to buy, even at a higher price than the current share price (being US$9.52). While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. In our view, the price an insider pays for shares is very important. Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price.
In the last twelve months insiders purchased 109.28k shares for US$1.1m. But they sold 6.00k shares for US$71k. In the last twelve months there was more buying than selling by Valley National Bancorp insiders. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. 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).
Does Valley National Bancorp Boast High Insider Ownership?
Many investors like to check how much of a company is owned by insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. It appears that Valley National Bancorp insiders own 1.4% of the company, worth about US$66m. 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 Valley National Bancorp Tell Us?
It is good to see recent purchasing. And the longer term insider transactions also give us confidence. Insiders likely see value in Valley National Bancorp shares, given these transactions (along with notable insider ownership of the company). So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. For example - Valley National Bancorp has 2 warning signs we think you should be aware of.