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.
On Tuesday, Enterprise Financial Services' Director, John S. Eulich, made a $373,425 purchase of EFSC, buying 7,500 shares at a cost of $49.79 a piece. Enterprise Financial Services Corp is trading up about 0.6% on the day Thursday. Before this latest buy, Eulich purchased EFSC on 4 other occasions during the past twelve months, for a total cost of $864,125 at an average of $31.42 per share.
And at Berkshire Hills Bancorp, there was insider buying on Monday, by SVP, Investors & Corp. Devel Kevin Conn who bought 5,271 shares for a cost of $23.00 each, for a trade totaling $121,231. Before this latest buy, Conn made one other purchase in the past twelve months, buying $135,745 shares for a cost of $22.70 a piece. Berkshire Hills Bancorp is trading down about 0.7% on the day Thursday. Conn was up about 8.0% on the purchase at the high point of today's trading session, with BHLB trading as high as $24.84 at last check today.
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