Have Independent Bank Insiders Been Selling Stock?
Independent Bank Corp. (NASDAQ:INDB) faced scrutiny as Director Gerard Nadeau sold US$332k worth of stock, representing 16% of his holdings. This sale, the largest insider transaction in the past year, occurred at a price close to the current share price of US$66.08. No insider purchases have been reported in the last year, raising caution among investors. Insiders own about US$69m worth of shares, equating to 2.1% of the company, suggesting some alignment with shareholders. However, the lack of recent insider buying and the selling activity warrant careful consideration before investing.
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We'd be surprised if Independent Bank Corp. (NASDAQ:INDB) shareholders haven't noticed that the Director, Gerard Nadeau, recently sold US$332k worth of stock at US$66.45 per share. That sale was 16% of their holding, so it does make us raise an eyebrow.
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Independent Bank Insider Transactions Over The Last Year
In fact, the recent sale by Gerard Nadeau was the biggest sale of Independent Bank shares made by an insider individual in the last twelve months, according to our records. So we know that an insider sold shares at around the present share price of US$66.08. While insider selling is a negative, to us, it is more negative if the shares are sold 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.
Insiders in Independent Bank didn't buy any shares in the last year. The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!
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Insider Ownership
Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. A high insider ownership often makes company leadership more mindful of shareholder interests. Independent Bank insiders own about US$69m worth of shares. That equates to 2.1% 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 Does This Data Suggest About Independent Bank Insiders?
Insiders haven't bought Independent Bank stock in the last three months, but there was some selling. Looking to the last twelve months, our data doesn't show any insider buying. Insider ownership isn't particularly high, so this analysis makes us cautious about the company. So we'd only buy after careful consideration. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Independent Bank. To assist with this, we've discovered 2 warning signs that you should run your eye over to get a better picture of Independent Bank.
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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.
