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While insider buying doesn't always directly correlate with a stock that is about to move higher, it does signal confidence from the people that work the closest with the business. Employees that are director level or higher must disclose their stock buys and sells with a form 4 filing. We have sorted through some of the recent disclosures to find high yield stocks in the financial sector that have had insider buying in the last few weeks. We found the following 7 stocks.

HF Financial Corp (HFFC)

HF Financial operates through its subsidiary, Home Federal Bank, which is a federally chartered stock savings bank. It provides full service business banking. HFC has had a couple of insider buys in February. Michael Vekich (Director) purchased 4300 shares on 2/3/2012 and James Abbott (Director) purchased just over 1100 shares on the same day. HFFC has a dividend yield of 3.9% and has not increased its dividend since 2008.

Hudson Valley Holding Corp (HVB)

Hudson Valley Holding operates its subsidiary bank, which has 18 branches in New York and Connecticut. Through this bank it provides investment managements and money management. James Landy, president and CEO, made a purchase of 1,000 shares on 2/2/2012. HVB has a dividend yield of 3.7%. It increased the dividend in 2011 after cutting it in 2010.

Pulaski Financial Corp (PULB)

Pulask Financial operates through its investment bank and 2 subsidiaries that issue preferred securities. Through the bankit accepts deposits from both individuals and businesses. On February 2, 2012, Michael Hogan (director) purchased 10,000 shares. PULB has a dividend of 5.1% but has not increased it since 2007.

Harleysville Savings Bank (OTCQB:HARL)

The Harleysville Savings Bank works to attract deposits from local businesses and customers in Pennsylvania. It also originates consumer loans, lines of credit and home equity loans. James Rittenhouse (director) bought 1032 shares and Thomas Clemens purchased 1725 on 2/2/12. HARL has a 4.9% dividend yield and a 5 year dividend growth rate of 2.8% but they have not raised their dividend since 2009.

Bridge Bancorp Inc (BDGE)

The Bridgehampton National bank is a consumer and commercial bank that receives deposits and provides services to both consumers and businesses. The deposits it receives are invested into real estate loans, home equity loans and construction loans. Albert McCoy (director) purchased just over 4800 shares on 1/31/12. BDGE has a dividend yield of 4.4% and has not increased or cut its dividend in the last 5 years.

FirstMerit Corp (FMER)

FirstMerit provides banking, investment and insurance services to corporate and institutional customers in the US. It operates out of over 200 full service banking offices, mostly in the Mid-West and northern East Coast. Steve Baer (director) purchased 3200 shares on 1/31/12. FMER has a dividend yield of 3.9% and has not raised their dividend since they cut it in 2010.

TrustCo Bank Corp NY (TRST)

TrustCo provides general banking services to its customers that include accepting deposits, making loans and investments. The trust department of its bank provides estate and personal trust services. Scot Salvador (EVP and CBO) purchased just over 4400 shares on 1/30/12. TRST has a dividend yield of 4.5%. They increased their dividend in 2011 after cutting it in 2010.

Source: 7 Financial Dividend Stocks With Insider Buying