We wouldn’t blame Northfield Bancorp, Inc. (Staten Island, NY) (NASDAQ:NFBK) shareholders if they were a little worried about the fact that John Alexander, the Chairman of the Board recently netted about US$612k selling shares at an average price of US$16.03. That sale reduced their total holding by 10.3% which is hardly insignificant, but far from the worst we’ve seen.
The Last 12 Months Of Insider Transactions At Northfield Bancorp (Staten Island NY)
In fact, the recent sale by Chairman of the Board John Alexander was not their only sale of Northfield Bancorp (Staten Island NY) shares this year. They previously made an even bigger sale of -US$612.4k worth of shares at a price of US$16.09 per share. So what is clear is that an insider saw fit to sell at around the current price of US$16.04. 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 twelve months insiders purchased 13500 shares for US$187k. But insiders sold 153k shares worth US$2.4m. All up, insiders sold more shares in Northfield Bancorp (Staten Island NY) than they bought, over the last year. You can see a visual depiction of insider transactions (by individuals) over the last 12 months, below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
Insider Ownership of Northfield Bancorp (Staten Island NY)
Many investors like to check how much of a company is owned by insiders. I reckon it’s a good sign if insiders own a significant number of shares in the company. Northfield Bancorp (Staten Island NY) insiders own about US$41m worth of shares. That equates to 5.2% of the company. We’ve certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
So What Do The Northfield Bancorp (Staten Island NY) Insider Transactions Indicate?
Insiders haven’t bought Northfield Bancorp (Staten Island NY) stock in the last three months, but there was some selling. And our longer term analysis of insider transactions didn’t bring confidence, either. But it is good to see that Northfield Bancorp (Staten Island NY) is growing earnings. While insiders do own shares, they don’t own a heap, and they have been selling. We’re in no rush to buy! Of course, the future is what matters most. So if you are interested in Northfield Bancorp (Staten Island NY), you should check out this free report on analyst forecasts for the company.
Of course Northfield Bancorp (Staten Island NY) may not be the best stock to buy. So you may wish to see this free collection of high quality companies.
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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If you spot an error that warrants correction, please contact the editor at firstname.lastname@example.org. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.