$1M Bet On U.S. Bancorp? Check Out These 3 Stocks Insiders Are Buying

Author: Lisa Levin | May 02, 2023 07:05am

Although US stocks closed slightly lower on Monday, there were a few notable insider trades.

When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.

Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform.

Texas Capital Bancshares

• The Trade: Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Director Thomas Long acquired a total 4,000 shares an average price of $50.17. To acquire these shares, it cost around $200.68 thousand.
• What’s Happening: Texas Capital Bancshares posted downbeat quarterly earnings.
• What Texas Capital Bancshares Does: Texas Capital Bancshares Inc is a secured lender, with the majority of the loans held for investment, excluding mortgage finance loans and other national lines of business.

U.S. Bancorp

• The Trade: U.S. Bancorp (NYSE:USB) Director Scott W Wine acquired a total of 30,438 shares at an average price of $32.85. To acquire these shares, it cost around $1 million.
• What’s Happening: U.S. Bancorp reported better-than-expected Q1 financial results.
• What U.S. Bancorp Does: As a diversified financial-services provider, U.S. Bancorp is one of the nation's largest regional banks, with branches in roughly 26 states, primarily in the Western and Midwestern United States.

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Carter Bankshares

• The Trade: Carter Bankshares, Inc. (NASDAQ:CARE) CEO Litz Dyke Van bought a total of 2,200 shares at an average price of $13.32. To acquire these shares, it cost around $29.3 thousand.
• What’s Happening: Carter Bankshare posted better-than-expected quarterly earnings.
• What Carter Bankshares Does: Carter Bankshares Inc is a bank holding company that conducts its business solely through the Bank. The Bank earns revenue from interest on loans and securities and fees charged for financial services provided to customers.

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Posted In: CARE TCBI USB