Independent Chairman of the Board of Greene County Bancorp Picks Up 7.9% More Stock

Whilst it may not be a huge deal, we thought it was good to see that the Greene County Bancorp, Inc. (NASDAQ:GCBC) Independent Chairman of the Board, Jay Cahalan, recently bought US$59k worth of stock, for US$22.67 per share. Although the purchase is not a big one, increasing their shareholding by only 7.9%, it can be interpreted as a good sign.

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Greene County Bancorp Insider Transactions Over The Last Year

The Independent Director Tejraj Hada made the biggest insider purchase in the last 12 months. That single transaction was for US$164k worth of shares at a price of US$23.50 each. So it's clear an insider wanted to buy, even at a higher price than the current share price (being US$21.81). It's very possible they regret the purchase, but it's more likely they are bullish about the company. We always take careful note of the price insiders pay when purchasing shares. As a general rule, we feel more positive about a stock if insiders have bought shares at above current prices, because that suggests they viewed the stock as good value, even at a higher price.

While Greene County Bancorp insiders bought shares during the last year, they didn't sell. The chart below shows insider transactions (by companies and individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

View our latest analysis for Greene County Bancorp

There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of undervalued small cap companies that insiders are buying.

Does Greene County Bancorp Boast High Insider Ownership?

Many investors like to check how much of a company is owned by insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. It appears that Greene County Bancorp insiders own 5.1% of the company, worth about US$20m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.

So What Does This Data Suggest About Greene County Bancorp Insiders?

It is good to see the recent insider purchase. And the longer term insider transactions also give us confidence. Insiders likely see value in Greene County Bancorp shares, given these transactions (along with notable insider ownership of the company). To put this in context, take a look at how a company has performed in the past. You can access this detailed graph of past earnings, revenue and cash flow.

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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.