Canadian stock market bulls should be encouraged by positive bank stock insider signals visible in conjunction with rallying share prices.
National Bank of Canada set a 52-week high on Wednesday and the stock is up 8.3 per cent over the past three months, ahead of the INK Canadian Insider Index (up 2.3 per cent). This performance comes on the back of positive fiscal third-quarter 2017 results, which saw revenue and profit growth.
Meanwhile, since Sept. 21, Alimentation Couche Tard Inc. co-founder and National Bank director Richard Fortin has spent $4-million buying stock.
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.