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 Thursday, Trustco Bank's CFO, Michael M. Ozimek, made a $33,150 buy of TRST, purchasing 1,000 shares at a cost of $33.15 each. Ozimek was up about 4.3% on the buy at the high point of today's trading session, with TRST trading as high as $34.59 in trading on Friday. Trustco Bank is trading up about 1.8% on the day Friday. Before this latest buy, Ozimek made one other purchase in the past twelve months, buying $82,425 shares for a cost of $32.97 each.
And at Northwest Bancshares there was insider buying on Wednesday, by SEVP, Commercial Banking Mark T. Reitzes who purchased 2,000 shares for a cost of $13.38 each, for a trade totaling $26,770. Before this latest buy, Reitzes made one other purchase in the past twelve months, buying $24,872 shares for a cost of $12.13 a piece. Northwest Bancshares is trading up about 3.2% on the day Friday. Reitzes was up about 3.5% on the buy at the high point of today's trading session, with NWBI trading as high as $13.85 in trading on Friday.
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