Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Friday, First Choice Bancorp's EVP & General Counsel, Khoi Dang, made a $49,764 purchase of FCBP, buying 3,470 shares at a cost of $14.34 each. First Choice Bancorp is trading down about 0.4% on the day Monday. This purchase marks the first one filed by Dang in the past year.
And also on Friday, Director Joseph W. Evans bought $48,440 worth of Cadence Bancorporation, buying 4,000 shares at a cost of $12.11 each. Before this latest buy, Evans bought CADE at 5 other times during the past year, for a total cost of $537,374 at an average of $13.78 per share. Cadence Bancorporation is trading off about 1.7% on the day Monday. Investors are able to pick up CADE at a price even lower than Evans did, with the stock trading as low as $11.59 in trading on Monday which is 4.3% under Evans's purchase price.
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