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 Huntington Bancshares (NASDAQ:HBAN), a filing with the SEC revealed that on Tuesday, President, CEO & Chairman Stephen D. Steinour purchased 17,540 shares of HBAN, for a cost of $9.35 each, for a total investment of $163,981. Huntington Bancshares is trading up about 0.3% on the day Wednesday. Before this latest buy, Steinour purchased HBAN at 2 other times during the past year, for a total investment of $194,628 at an average of $9.38 per share.
And at Boston Private Financial Holdings (NASDAQ:BPFH), there was insider buying on Tuesday, by Director Daniel P. Nolan who purchased 8,500 shares at a cost of $11.97 each, for a trade totaling $101,745. Before this latest buy, Nolan made one other purchase in the past year, buying $189,963 shares at a cost of $12.66 a piece. Boston Private Financial Holdings is trading up about 1.7% on the day Wednesday. So far Nolan is in the green, up about 2.8% on their purchase based on today's trading high of $12.30.
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