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 one noteworthy recent insider buy.
On Tuesday, Executive Vice President Joseph M. Beedle purchased $101,614 worth of Northrim BancCorp (NASDAQ:NRIM), purchasing 4,125 shares at a cost of $24.63 a piece. Before this latest buy, Beedle made one other purchase in the past twelve months, buying $18,018 shares for a cost of $24.02 each. Northrim BancCorp is trading up about 1% on the day Thursday.
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