$2 Million Bet On FB Financial? 3 Stocks Insiders Are Buying

Although US stocks closed higher 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.

FB Financial

• The Trade: FB Financial Corporation FBK 10% owner James Ayers acquired a total of 53,088 shares an average price of $37.25. To acquire these shares, it cost around $1.98 million.
• What’s Happening: The company recently posted downbeat quarterly earnings.
• What FB Financial Does: FB Financial Corp is a bank holding company. The company through its wholly-owned bank subsidiary provides commercial and consumer banking services to clients in select markets in Tennessee, North Alabama, and North Georgia.

Riley Exploration Permian

• The Trade: Riley Exploration Permian, Inc. REPX 10% owner Balmon California Inc acquired a total of 23,755 shares at an average price of $26.99. To acquire these shares, it cost around $641.25 thousand.
• What’s Happening: Riley Permian recently increased its quarterly cash dividend from $0.31 to $0.34 per share.
• What Riley Exploration Permian Does: Riley Exploration Permian Inc is engaged in the business of exploration for and production of oil and natural gas. The company operations are in Kansas Properties, Tennessee Properties, among others

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Also check this: Apple, Amazon And Other Big Tech Stocks From Benzinga's Most Accurate Analysts

Fifth Third Bancorp

• The Trade: Fifth Third Bancorp FITB EVP and CFO James C Leonard bought a total of 3,893 shares at an average price of $32.16. To acquire these shares, it cost around $125.18 thousand.
• What’s Happening: Fifth Third Bancorp recently reported worse-than-expected Q3 results.
• What Fifth Third Bancorp Does: Fifth Third Bancorp is a diversified financial-services company headquartered in Cincinnati.