Thursday 7/30 Insider Buying Report: NWFL, BFST
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At Norwood Financial, a filing with the SEC revealed that on Tuesday, James Shook bought 3,100 shares of NWFL, for a cost of $34.55 each, for a total investment of $107,105. Bargain hunters have the opportunity to snag NWFL even cheaper than Shook did, with the stock trading as low as $32.95 in trading on Thursday which is 4.6% below Shook's purchase price. Norwood Financial is trading up about 0.1% on the day Thursday. Before this latest buy, Shook bought NWFL at 3 other times during the past year, for a total investment of $213,181 at an average of $27.78 per share.
And at Business First Bancshares, there was insider buying on Tuesday, by Director Rick D. Day who bought 1,500 shares at a cost of $31.61 each, for a trade totaling $47,415. Before this latest buy, Day purchased BFST on 2 other occasions during the past year, for a total cost of $80,061 at an average of $25.83 per share. Business First Bancshares is trading up about 0.3% on the day Thursday. Day was up about 2.5% on the purchase at the high point of today's trading session, with BFST trading as high as $32.39 at last check today.
VIDEO: Thursday 7/30 Insider Buying Report: NWFL, BFST