Several insiders made buys this week as the price of their
companies hit or neared 52-week low prices. The following insider
buys were chosen as the insider buys at 52-week lows with the
highest total transaction amounts.
TrustCo Bank Corp NY (
On April 29, two insiders of TrustCo Bank Corp NY made
into the company. The two directors bought over 100,000 shares of
Director Joseph Lucarelli made the largest buy, adding a total of
100,000 shares at $5.35 per share. This cost Lucarelli $535,000.
He now holds on to 319,225 shares of the company's stock.
Director Thomas Maggs also made a buy of 1,650 shares on April
29. These shares traded at $5.28 per share. This cost the
director a total of $8,712. He now holds on to 67,227 shares of
TrustCo Bank Corp NY is a savings and loan holding company for
its wholly owned subsidiary, TrustCo Bank. TrustCo Bank is a
federal savings bank engaged in providing general banking
services to individuals, partnerships, and corporations. The bank
operates out of 137 offices in the New York area.
What's good about TrustCo?
Possible concerns with TrustCo:
- The P/B ratio is close to a 1-year low.
- The equity to asset ratio is at 8.2%.
- The price is close to a 52-week low.
- The operating margin has been in a 5-year decline. The
average rate of decline is -6% per year.
- The company has issued $52.118 million of debt in the past
- The company's P/B ratio is 1.4.
have shown a lot of faith in TrustCo Bank Corp. Chuck Royce holds
the most shares of TrustCo, owning 6,101,833 shares of the
company. Columbia Wanger comes in second holding 4,007,400 shares
and Paul Tudor Jones owns 77,300 shares.
ConnectOne Bancorp (
Relatively new to the public trading market, ConnectOne Bancorp
reported an insider buy as the company's price dropped back down
to its IPO price.
Chairman and CEO Frank Sorrentino, III bought 3,660 shares at
$29.27 per share. This cost him a total of $107,128. Since this
buy, the price has increased 0.51%. He now holds on to 137,601
shares of ConnectOne.
On Feb. 12, 2013, the company became a publicly traded bank
holding company. Through the IPO, they issued 1.8 million shares
at a price of $28 per share, rasing net proceeds of $47.8
million. It was the first successful IPO of a US commercial bank
Frank Sorrentino III stated, "We are extremely pleased with our
solid operating performance this quarter, our first as a public
company. Our track record of sustained organic growth established
since we opened our doors for business in 2005 has continued at
an impressive pace."
The bank is a full service commercial bank that was initially
founded in 2005 as North Jersey Community Bancorp. The company
offers commercial and consumer banking services to clients in the
New Jersey area.
What's good about ConnectOne?
Possible concerns with ConnectOne:
- They have total assets of over $1 billion.
- The total nonperforming assets decreased by 5.3%, and they
now make up 0.79% of the total assets.
- The company was selected by SNL Financial as the 12
best performing community bank (out of more than 750 commercial
- The company's P/B ratio is at 2.
- The company's price has already dropped back down to the
There are currently no gurus that hold stake in the bank.
With shares down 0.75%, ConnectOne trades at $29.06.
Edwards Lifesciences (
Edwards Lifesciences also reported insider transactions this
week; their transaction amount was the second highest price. The
company is also the one in the top three that is not in the
banking and finance industry.
Two directors made buys back into the company this week. On April
26, Director Wesley Von Schack bought 2,000 shares at $64.95.
This cost the director $129,900 and since his buy the price has
On May 1, Director E. David Pyott bought 3,000 shares at $62.95
per share. This cost him a total of $188,850. Since his buy the
price per share has increased 0.87%.
As the price has been falling we have seen an increase in the
number of insider buys coming from Edwards
What's good about Edwards Lifesciences?
Possible problems with Edwards:
- The company has enough interest to cover all of its debt.
- The company has shown predictable revenue and earnings
- The P/B and P/S ratios are close to 3-year lows of 4.79 and
- The price is close to a 2-year low of $62.50.
- The company has issued $95.5 million of debt in the past
- The company has a bad stock buyback track record. The stock
is now traded at -29% below its average buyback price.
- The company has a pretty high P/B ratio of 4.8.
Edwards Lifesciences is a medical supply company that provides
products and technologies that are designed to treat advanced
cardiovascular diseases. The company is focused specifically on
technologies that treat structural heart disease and critically
ill patients such as heart valves and hemodynamic monitoring.
The company's revenue per share has grown 9.4% in the past ten
years and 12.8% in the past year.
There are seven gurus with stake in Edwards Lifesciences. To view
these gurus and the shares they hold, click here.
With its shares down 1.53%, Edwards Lifesciences closed at
To view the complete list of insider buys at 52-week lows,
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