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.
On Friday, Webster Financial's Director, William L. Atwell, made a $118,013 purchase of WBS, buying 5,000 shares at a cost of $23.60 each. So far Atwell is in the green, up about 18.0% on their buy based on today's trading high of $27.86. Webster Financial Corp is trading up about 5.5% on the day Tuesday. This purchase marks the first one filed by Atwell in the past twelve months.
And at Prudential Bancorp, there was insider buying on Friday, by Director Bruce E. Miller who purchased 8,500 shares for a cost of $11.15 each, for a trade totaling $94,775. Before this latest buy, Miller purchased PBIP at 2 other times during the past year, for a total cost of $27,191 at an average of $14.59 per share. Prudential Bancorp is trading up about 2.1% on the day Tuesday. So far Miller is in the green, up about 11.6% on their buy based on today's trading high of $12.44.