First Bancorp Independent Director Acquires 357% More Stock

Whilst it may not be a huge deal, we thought it was good to see that the The First Bancorp, Inc. (NASDAQ:FNLC) Independent Director, Ingrid H. Kachmar, recently bought US$96k worth of stock, for US$24.10 per share. Even though that isn't a massive buy, it did increase their holding by 357%, which is arguably a good sign.

We've discovered 1 warning sign about First Bancorp. View them for free.

First Bancorp Insider Transactions Over The Last Year

Notably, that recent purchase by Ingrid H. Kachmar is the biggest insider purchase of First Bancorp shares that we've seen in the last year. That means that an insider was happy to buy shares at around the current price of US$24.37. Of course they may have changed their mind. But this suggests they are optimistic. While we always like to see insider buying, it's less meaningful if the purchases were made at much lower prices, as the opportunity they saw may have passed. In this case we're pleased to report that the insider purchases were made at close to current prices.

Over the last year, we can see that insiders have bought 5.60k shares worth US$135k. But they sold 500.00 shares for US$15k. Overall, First Bancorp insiders were net buyers during the last year. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!

See our latest analysis for First Bancorp

First Bancorp is not the only stock insiders are buying. So take a peek at this free list of under-the-radar companies with insider buying.

Insider Ownership Of First Bancorp

Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. We usually like to see fairly high levels of insider ownership. It appears that First Bancorp insiders own 5.0% of the company, worth about US$14m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.

What Might The Insider Transactions At First Bancorp Tell Us?

It's certainly positive to see the recent insider purchases. And the longer term insider transactions also give us confidence. When combined with notable insider ownership, these factors suggest First Bancorp insiders are well aligned, and that they may think the share price is too low. While it's good to be aware of what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. In terms of investment risks, we've identified 1 warning sign with First Bancorp and understanding this should be part of your investment process.

If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.