Wednesday 5/1 Insider Buying Report: NBBK, MCBS
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.
On Friday, NB Bancorp's CEO, Joseph P. Campanelli, made a $218,852 buy of NBBK, purchasing 15,000 shares at a cost of $14.59 each. NB Bancorp is trading off about 0.2% on the day Wednesday. Before this latest buy, Campanelli purchased NBBK on 2 other occasions during the past twelve months, for a total cost of $418,540 at an average of $13.95 per share.
And at MetroCity Bankshares, there was insider buying on Monday, by Director Sam Sang-koo Shim who bought 2,595 shares for a cost of $23.89 each, for a trade totaling $61,986. This buy marks the first one filed by Shim in the past twelve months. MetroCity Bankshares is trading up about 1.2% on the day Wednesday. Investors can buy MCBS at a price even lower than Shim did, with the stock trading as low as $23.11 in trading on Wednesday -- that's 3.3% below Shim's purchase price.
VIDEO: Wednesday 5/1 Insider Buying Report: NBBK, MCBS