Wednesday 8/27 Insider Buying Report: EBC, ES
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 Eastern Bankshares, a filing with the SEC revealed that on Monday, Chief Executive Officer Denis K. Sheahan purchased 29,762 shares of EBC, at a cost of $16.71 each, for a total investment of $497,323. Sheahan was up about 2.1% on the purchase at the high point of today's trading session, with EBC trading as high as $17.06 in trading on Wednesday. Eastern Bankshares is trading up about 1.8% on the day Wednesday. This buy marks the first one filed by Sheahan in the past year.
And on Friday, Loretta D. Keane purchased $249,739 worth of Eversource Energy, purchasing 3,780 shares at a cost of $66.07 a piece. Eversource Energy is trading up about 0.9% on the day Wednesday. Bargain hunters can grab ES even cheaper than Keane did, with shares changing hands as low as $64.52 at last check today which is 2.3% under Keane's purchase price.
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