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| Grab This Deal Even Lower Than Director Bennett DidBy Dividend Channel Staff, Tuesday, November 22, 11:55 AM ET
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on November 15, Lake Shore Bancorp Inc's Director, Tracy Steve Bennett, invested $7,834.99 into 800 shares of LSBK, for a cost per share of $9.79. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Tuesday, bargain hunters could buy shares of Lake Shore Bancorp Inc (NASDAQ:LSBK) and achieve a cost basis 3.2% cheaper than Bennett, with shares changing hands as low as $9.48 per share. Lake Shore Bancorp Inc shares are currently trading up about 0.4% on the day. The chart below shows the one year performance of LSBK shares, versus its 200 day moving average:
Looking at the chart above, LSBK's low point in its 52 week range is $8.00 per share, with $14.00 as the 52 week high point — that compares with a last trade of $9.52. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:
The current annualized dividend paid by Lake Shore Bancorp Inc is $0.28/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 11/03/2011. Below is a long-term dividend history chart for LSBK, which can be of good help in judging whether the most recent dividend with approx. 3.0% annualized yield is likely to continue.
LSBK operates in the Banking & Savings sector, among companies like M & T Bank Corp (NYSE:MTB) which is off about 0.8% today, and CrediCorp Ltd. (NYSE:BAP) trading lower by about 2.1%. Below is a three month price history chart comparing the stock performance of LSBK, versus MTB and BAP.
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One Reason For Insiders to Buy
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