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%.
Univest Corporation of Pennsylvania (NASDAQ:UVSP) operates as the holding company for Univest Bank and Trust Co. that provides various commercial and retail banking, community banking, and trust services to individuals, businesses, municipalities, and nonprofit organizations in Pennsylvania.
Insider buying during the last 30 days
Here is a table of Univest's insider-trading activity during the last 30 days by insider.
|Name||Title||Trade Date||Shares Purchased||Current Ownership||Increase In Shares|
|Duane Brobst||EVP||Feb 6||275||29,329 shares||+0.9%|
|Kenneth Hochstetler||EVP||Feb 6||2,849||51,173 shares||+5.9%|
|Philip Jackson||President, Corporate Banking||Feb 6||1,802||29,927 shares||+6.4%|
|Michael Keim||CFO||Jan 30-Feb 6||3,377||12,234 shares||+38.1%|
|Leon Moyer||Vice Chairman||Feb 6||3,695||96,683 shares||+4.0%|
|Jeffrey Schweitzer||CEO||Feb 6||3,638||38,012 shares||+10.6%|
There have been 15,636 shares purchased by insiders during the last 30 days.
Insider buying by calendar month
Here is a table of Univest's insider-trading activity by calendar month.
Insider buying / shares
Insider selling / shares
There have been 46,208 shares purchased, and there have been 3,696 shares sold by insiders since January 2013.
Univest reported the full-year 2013 financial results on January 22 with the following highlights:
|Net interest income||$72.5 million|
$17.22 per share
Univest's peer group comprises all Mid-Atlantic banks, thrifts and savings institutions. The Mid-Atlantic area is defined as Pennsylvania, New York, New Jersey, Maryland, Delaware and the District of Columbia. Here is a table comparing Univest against the peer average.
Univest beats the peer group in all of these three metrics.
There have been six different insiders buying Univest, and there have not been any insiders selling Univest during the last 30 days. Two of these six insiders increased their holdings by more than 10%. Univest has an insider ownership of 4.00%.
Univest has a book value of $17.22 per share, which could be a good entry point for the stock based on the intensive insider buying.