Hudson Valley Holding: 3 Different Insiders Have Purchased Shares This Year

Feb. 5.14 | About: Hudson Valley (HVB)

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:

  1. The stock is purchased by three or more insiders within one month.
  2. The stock is sold by no insiders in the month of intensive purchasing.
  3. 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.

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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%
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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
February 2014 1,900 0
January 2014 8,925 0
December 2013 1,000 0
November 2013 1,003 5,401
October 2013 0 5,230
September 2013 0 0
August 2013 2,502 0
July 2013 6,000 1,000
June 2013 0 8,051
May 2013 11,602 0
April 2013 0 0
March 2013 0 2,000
February 2013 2 0
January 2013 0 0
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There have been 32,932 shares purchased, and there have been 21,682 shares sold by insiders since January 2013.

Financials

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
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Competition

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.

Company HVB Peer average
P/E 282.33 15.88
P/B 119.69% 127.00%
Dividend Yield 1.41% 1.79%
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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
TBBK 13,000 29,148
FISI 5,000 1,200
IBCA 0 16,100
LBAI 4,000 172,987
METR 250 10,633
STL 0 87,345
TMP 2,879 9,310
UVSP 32,572 3,696
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Only Hudson Valley has seen intensive insider buying during the last 30 days.

Conclusion

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.

HVB Book Value (Per Share) Chart

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.