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, Coastal Financial's Director, Thomas D. Lane, made a $299,984 purchase of CCB, buying 7,407 shares at a cost of $40.50 each. Lane was up about 28.7% on the buy at the high point of today's trading session, with CCB trading as high as $52.11 in trading on Wednesday. Coastal Financial is trading up about 1.6% on the day Wednesday. This buy marks the first one filed by Lane in the past year.
And at Farmers National Banc, there was insider buying on Monday, by Director Edward Muransky who purchased 15,209 shares at a cost of $17.72 each, for a trade totaling $269,556. Before this latest buy, Muransky bought FMNB at 10 other times during the past twelve months, for a total investment of $639,941 at an average of $15.78 per share. Farmers National Banc is trading down about 0.6% on the day Wednesday. Muransky was up about 2.4% on the buy at the high point of today's trading session, with FMNB trading as high as $18.14 in trading on Wednesday.
For MarketNewsVideo.com, I'm Sayoko Murase.