4 Stocks Insiders Are Buying: FB Financial And More
Portfolio Pulse from Avi Kapoor
Insiders at FB Financial, Mueller Industries, BancFirst, and William Penn Bancorporation have recently made notable stock purchases. FB Financial's 10% owner bought shares at $35.50 each after a downgrade by Hovde Group. Mueller Industries' director acquired shares at $28.68 each following a downgrade by Northcoast Research. BancFirst's EVP purchased shares at $92.60 each after the company posted upbeat quarterly earnings. William Penn Bancorporation's director bought shares at $12.35 each, with Piper Sandler maintaining an Overweight rating and raising the price target.
January 23, 2024 | 11:06 am
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POSITIVE IMPACT
BancFirst's EVP Darryl Schmidt bought 249 shares at $92.60 each, following the company's positive quarterly earnings report.
The insider purchase after strong earnings could suggest an expectation of continued positive performance, likely to be viewed favorably by investors.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 75
POSITIVE IMPACT
FB Financial's 10% owner James Ayers purchased 2,000 shares at $35.50 each, signaling confidence despite a recent downgrade to Market Perform with a $40 price target by Hovde Group.
Insider purchases often indicate confidence in the company's prospects, which could lead to a positive short-term impact on the stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Mueller Industries' Director Charles Herzog Jr acquired 150 shares at $28.68 each after the company was downgraded from Buy to Neutral by Northcoast Research.
The insider purchase could be seen as a bullish sign, potentially offsetting the negative sentiment from the downgrade.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
William Penn Bancorporation's Director Matthew Christopher Molden purchased 156 shares at $12.35 each, with Piper Sandler maintaining an Overweight rating and raising the price target.
The insider buy, coupled with a positive analyst outlook and raised price target, could lead to a short-term positive impact on the stock.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80