In this article, I will feature one bank that has seen intensive insider buying during the last 30 days. Intensive insider buying can be defined by the following three criteria:
- The stock is purchased by three or more insiders within one month.
- The stock is sold by no insiders in the month of intensive purchasing.
- At least two purchasers increased their holdings by more than 10%.
Hudson Valley Holding Corp. (NYSE:HVB) operates as the bank holding company for Hudson Valley Bank, N.A. that provides banking and related services to businesses, professionals, municipalities, not-for-profit organizations, and individuals in New York.
Insider buying during the last 30 days
Here is a table of Hudson Valley's insider-trading activity during the last 30 days by insider.
|Name||Title||Trade Date||Shares Purchased||Current Ownership||Increase In Shares|
|William Whiston||Director||Jan 30-Feb 4||3,400||5,000 shares||+212.5%|
|Michael Indiveri||CFO||Jan 30-31||5,425||18,925 shares||+40.2%|
|Michael Finn||EVP||Jan 31||2,000||9,500 shares||+26.7%|
There have been 10,825 shares purchased by insiders during the last 30 days.
Insider buying by calendar month
Here is a table of Hudson Valley's insider-trading activity by calendar month.
|Month||Insider buying / shares||Insider selling / shares|
There have been 32,932 shares purchased, and there have been 21,682 shares sold by insiders since January 2013.
Hudson Valley reported the full-year 2013 financial results on January 27 with the following highlights:
|Net interest income||$83.9 million|
|Net income||$1.1 million|
|Book value||$14.26 per share|
|Tangible book value||$13.97 per share|
Hudson Valley's peer group includes Bancorp (NASDAQ:TBBK), Financial Institutions (NASDAQ:FISI), Intervest Bancshares Corporation (NASDAQ:IBCA), Lakeland Bancorp (NASDAQ:LBAI), Metro Bancorp (NASDAQ:METR), Sterling Bancorp (NYSE:STL), Tompkins Financial Corporation (NYSEMKT:TMP), and Univest Corporation of Pennsylvania (NASDAQ:UVSP). Here is a table comparing Hudson Valley against the peer average.
Hudson Valley is trading below the peer-average P/B ratio.
Here is a table of these competitors' insider-trading activities during the last 12 months.
|Company||Insider buying / shares||Insider selling / shares|
Only Hudson Valley has seen intensive insider buying during the last 30 days.
There have been three different insiders buying Hudson Valley, and there have not been any insiders selling Hudson Valley during the last 30 days. All three of these insiders increased their holdings by more than 10%. Hudson Valley has an insider ownership of 3.10%.
Hudson Valley has a book value of $14.26 per share, which could be a good entry point for the stock based on the intensive insider buying.
Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in HVB over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.