Quite a few insiders have dramatically grown their holdings in The Bank of Nova Scotia (TSE:BNS) over the past 12 months. An insider’s optimism about the company’s prospects is a positive sign.
While insider transactions are not the most important thing when it comes to long-term investing, we would consider it foolish to ignore insider transactions altogether.
Bank of Nova Scotia Insider Transactions Over The Last Year
In the last twelve months, the biggest single purchase by an insider was when President L. Thomson bought CA$2.0m worth of shares at a price of CA$65.26 per share. We do like to see buying, but this purchase was made at well below the current price of CA$72.95. Because the shares were purchased at a lower price, this particular buy doesn’t tell us much about how insiders feel about the current share price.
While Bank of Nova Scotia insiders bought shares during the last year, they didn’t sell. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
There are always plenty of stocks that insiders are buying. So if that suits your style you could check each stock one by one or you could take a look at this free list of companies. (Hint: insiders have been buying them).
Insider Ownership Of Bank of Nova Scotia
For a common shareholder, it is worth checking how many shares are held by company insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. It appears that Bank of Nova Scotia insiders own 0.03% of the company, worth about CA$30m. While this is a strong but not outstanding level of insider ownership, it’s enough to indicate some alignment between management and smaller shareholders.
So What Does This Data Suggest About Bank of Nova Scotia Insiders?
It doesn’t really mean much that no insider has traded Bank of Nova Scotia shares in the last quarter. But insiders have shown more of an appetite for the stock, over the last year. Insiders own shares in Bank of Nova Scotia and we see no evidence to suggest they are worried about the future. Of course, the future is what matters most. So if you are interested in Bank of Nova Scotia, you should check out this free report on analyst forecasts for the company.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Join A Paid User Research Session
You’ll receive a US$30 Amazon Gift card for 1 hour of your time while helping us build better investing tools for the individual investors like yourself. Sign up here