Benzinga - by Lisa Levin, Benzinga Editor.
Although U.S. stocks closed mostly higher on Friday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform.
Arrow Financial
- The Trade: Arrow Financial Corporation (NASDAQ: AROW) SVP, Chief Operating Officer Andrew Wise acquired a total of 1,000 shares an average price of $24.49. To acquire these shares, it cost around $24,490.
- What’s Happening: Arrow Financial posted upbeat third-quarter earnings.
- What Arrow Financial Does: Arrow Financial Corp is a holding company. The company provides various advisory and administrative services and coordinates the general policies and operations of the banks.
- The Trade: Mid Penn Bancorp, Inc. (NASDAQ: MPB) Director Bruce A Kiefer acquired a total of 1,000 shares at an average price of $21.09. To acquire these shares, it cost around $21,093.
- What’s Happening: Mid Penn Bancorp posted downbeat earnings for the third quarter.
- What Mid Penn Bancorp Does: Mid Penn Bancorp Inc operates in the financial services domain. It conducts commercial banking and trust business in the United States.
Sound Financial Bancorp
- The Trade: Sound Financial Bancorp, Inc. (NASDAQ: SFBC) 10% owner Stilwell Partners LP bought a total of 2,500 shares at an average price of $36.25. To acquire these shares, it cost around $90,625.
- What’s Happening: Sound Financial Bancorp posted a decline in third-quarter sales.
- What Sound Financial Bancorp Does: Sound Financial Bancorp Inc operates as the holding company for Sound Community Bank that provides traditional banking and other financial services for individuals and businesses.
- The Trade: Texas Capital Bancshares, Inc. (NASDAQ: TCBI) Director Robert Stallings bought a total of 4,294 shares at an average price of $26.27. The insider spent around $112,813 to buy those shares.
- What’s Happening: RBC Capital maintained Texas Capital Bancshares with a Sector Perform and lowered the price target from $66 to $61.
- What Texas Capital Bancshares Does: Texas Capital Bancshares Inc is a secured lender, with the majority of the loans held for investment, excluding mortgage finance loans and other national lines of business.
Check This Out: Zscaler Likely To Report Higher Q1 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.