$2.5M Bet On Truist Financial? Check Out These 3 Stocks Insiders Are Buying
Portfolio Pulse from Avi Kapoor
Insiders have made notable purchases in Truist Financial, Texas Capital Bancshares, and Peoples Financial, indicating confidence in these companies. Truist Financial's CEO bought $2.52M worth of shares, Texas Capital Bancshares' Director bought $112,950 worth of shares, and Peoples Financial's Director bought $16,000 worth of shares.
July 26, 2024 | 1:37 pm
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NEUTRAL IMPACT
Peoples Financial's Director Ronald G Barnes bought 1,000 shares at an average price of $16.00, costing around $16,000. This purchase follows a decline in the company's net income for the second quarter.
The insider purchase suggests some level of confidence in the company's future, but the recent decline in net income may temper immediate positive impacts on the stock price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 100
NEUTRAL IMPACT
Texas Capital Bancshares' Director Robert W Stallings acquired 5,500 shares at an average price of $20.54, costing around $112,950. This purchase comes after the company reported worse-than-expected second-quarter financial results.
Despite the recent poor financial results, the insider purchase indicates confidence in the company's long-term prospects. However, the immediate impact on the stock price may be neutral due to the mixed signals.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Truist Financial's Chairman and CEO William H Rogers Jr acquired 57,300 shares at an average price of $43.96, costing around $2.52 million. This insider purchase follows the company's upbeat quarterly earnings report.
The significant insider purchase by the CEO, combined with recent positive earnings, suggests strong confidence in the company's future performance, likely boosting investor sentiment and short-term stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100