Executive Vice President & CFO of OceanFirst Financial Corp. (OCFC) Michael J Fitzpatrick buys 1,000 shares of OCFC on 10/29/2009 at an average price of $9 a share.
OceanFirst Financial Corp. is a holding company for the OceanFirst Bank. Oceanfirst Financial Corp. has a market cap of $119.4 million; its shares were traded at around $9.65 with a P/E ratio of 8 and P/S ratio of 1. The dividend yield of Oceanfirst Financial Corp. stocks is 8.3%. Oceanfirst Financial Corp. had an annual average earning growth of 7.2% over the past 10 years.
Sell:: 10% Owner on 09/30/2009 Foundation Oceanfirst sold 16,000 shares of OCFC stock at the average price of 12.39, the price of the stock has decreased by 22.11% since
Sell:: 10% Owner on 09/15/2009 Foundation Oceanfirst sold 8,000 shares of OCFC stock at the average price of 12.58, the price of the stock has decreased by 23.29% since
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Why CEOs Are Buying Stocks Of Their Own Companies?
As legendary investor Peter Lynch said: "Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise."
TOP EXECUTIVES like CEOs and CFOs are savvy buyers of their companies' shares. One long-term study showed that they beat the market on average by six percentage points a year.
Another study found that the aggregated activities of insiders can serve as a good indicator to locate market bottoms. Insiders as a whole are smart investors of their own companies.
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