Anyone interested in Independent Bank Corp. (NASDAQ:INDB) should probably be aware that the CEO, President & Director, Christopher Oddleifson, recently divested US$114k worth of shares in the company, at an average price of US$76.13 each. On the bright side, that sale was only 1.6% of their holding, so we doubt it’s very meaningful, on its own.
The Last 12 Months Of Insider Transactions At Independent Bank
In the last twelve months, the biggest single sale by an insider was when the insider, William Parent, sold US$821k worth of shares at a price of US$84.36 per share. That means that an insider was selling shares at around the current price of US$75.18. While we don’t usually like to see insider selling, it’s more concerning if the sales take place at a lower price. Given that the sale took place at around current prices, it makes us a little cautious but is hardly a major concern.
In the last year Independent Bank insiders didn’t buy any company stock. You can see a visual depiction of insider transactions (by individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!
For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
Insider Ownership of Independent Bank
For a common shareholder, it is worth checking how many shares are held by company insiders. We usually like to see fairly high levels of insider ownership. Independent Bank insiders own about US$45m worth of shares. That equates to 1.7% of the company. 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 Independent Bank Insiders?
Insiders sold Independent Bank shares recently, but they didn’t buy any. And even if we look to the last year, we didn’t see any purchases. On the plus side, Independent Bank makes money, and is growing profits. Insider ownership isn’t particularly high, so this analysis makes us cautious about the company. We’re in no rush to buy! Of course, the future is what matters most. So if you are interested in Independent Bank, you should check out this free report on analyst forecasts for the company.
But note: Independent Bank may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE 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, but not derivative transactions.
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