Friday 3/15 Insider Buying Report: BHRB, MOFG
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At Burke Herbert Financial Services, a filing with the SEC revealed that on Friday, Director Julian Forrest Barnwell Jr. purchased 3,000 shares of BHRB, for a cost of $52.00 each, for a total investment of $156,000. Burke Herbert Financial Services is trading up about 4.5% on the day Friday. Before this latest buy, Barnwell Jr. purchased BHRB at 5 other times during the past year, for a total cost of $997,151 at an average of $53.43 per share.
And on Monday, Chief Executive Officer Charles N. Reeves purchased $99,998 worth of MidWestOne Financial Group, purchasing 4,447 shares at a cost of $22.49 a piece. Before this latest buy, Reeves purchased MOFG on 3 other occasions during the past year, for a total investment of $292,212 at an average of $18.83 per share. MidWestOne Financial Group is trading up about 2.1% on the day Friday.
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