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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.

(click to enlarge)

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.

NameTitleTrade DateShares PurchasedCurrent OwnershipIncrease In Shares
William WhistonDirectorJan 30-Feb 43,4005,000 shares+212.5%
Michael IndiveriCFOJan 30-315,42518,925 shares+40.2%
Michael FinnEVPJan 312,0009,500 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.

MonthInsider buying / sharesInsider selling / shares
February 20141,9000
January 20148,9250
December 20131,0000
November 20131,0035,401
October 201305,230
September 201300
August 20132,5020
July 20136,0001,000
June 201308,051
May 201311,6020
April 201300
March 201302,000
February 201320
January 201300

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

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.

CompanyHVBPeer average
P/E282.3315.88
P/B119.69%127.00%
Dividend Yield1.41%1.79%

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.

CompanyInsider buying / sharesInsider selling / shares
TBBK13,00029,148
FISI5,0001,200
IBCA016,100
LBAI4,000172,987
METR25010,633
STL087,345
TMP2,8799,310
UVSP32,5723,696

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

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