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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Friday, DNB Financial Corp. (NASDAQ:DNBF)'s Director, Charles A. Murray, made a $8,866 purchase of DNBF, buying 257 shares at a cost of $34.50 a piece. So far Murray is in the green, up about 5.8% on their buy based on today's trading high of $36.50. DNB Financial Corp. is trading flat on the day Monday. Before this latest buy, Murray bought DNBF at 5 other times during the past year, for a total investment of $43,863 at an average of $34.46 per share.
And at Columbia Banking System (NASDAQ:COLB), there was insider buying on Thursday, by CFO Clint Stein who purchased 117 shares for a cost of $36.81 each, for a total investment of $4,307. Before this latest buy, Stein made one other purchase in the past twelve months, buying $1,978 shares at a cost of $36.63 each. Columbia Banking System is trading up about 1.4% on the day Monday. Stein was up about 15.6% on the purchase at the high point of today's trading session, with COLB trading as high as $42.56 at last check today.
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