Some Bank First Corporation (NASDAQ:BFC) shareholders may be a little concerned to see that the Director, Steven Eldred, recently sold a substantial US$2.4m worth of stock at a price of US$148 per share. However, that sale only accounted for 8.1% of their holding, so arguably it doesn't say much about their conviction.

The Last 12 Months Of Insider Transactions At Bank First

In fact, the recent sale by Steven Eldred was the biggest sale of Bank First shares made by an insider individual in the last twelve months, according to our records. So we know that an insider sold shares at around the present share price of US$146. While we don't usually like to see insider selling, it's more concerning if the sales take place at a lower price. Given that the sale took place at around current prices, it makes us a little cautious but is hardly a major concern.

Happily, we note that in the last year insiders paid US$214k for 1.94k shares. But they sold 16.00k shares for US$2.4m. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

I will like Bank First better if I see some big insider buys.

Insider Ownership Of Bank First

For a common shareholder, it is worth checking how many shares are held by company insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. It's great to see that Bank First insiders own 9.9% of the company, worth about US$162m. I like to see this level of insider ownership, because it increases the chances that management are thinking about the best interests of shareholders.

So What Does This Data Suggest About Bank First Insiders?

The stark truth for Bank First is that there has been more insider selling than insider buying in the last three months. Despite some insider buying, the longer term picture doesn't make us feel much more positive. But it is good to see that Bank First is growing earnings. The company boasts high insider ownership, but we're a little hesitant, given the history of share sales. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company.

Of course Bank First may not be the best stock to buy. So you may wish to see this free collection of high quality 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 of direct interests only, but not derivative transactions or indirect interests.

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.