Union Pacific And 2 Other Stocks Insiders Are Buying

Although US stocks closed higher on Tuesday, 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.

Union Pacific

• The Trade: Union Pacific Corporation UNP Director Teresa Finley acquired a total of 1,380 shares an average price of $188.26. To acquire these shares, it cost around $259.8 thousand.
• What’s Happening: The company recently posted upbeat quarterly earnings.
• What Union Pacific Does: Omaha, Nebraska-based Union Pacific is the largest public railroad in North America. Operating on more than 30,000 miles of track in the western two thirds of the U.S., UP generated roughly $22 billion of revenue in 2021 by hauling coal, industrial products, intermodal containers, agriculture goods, chemicals, and automotive goods.

Texas Capital Bancshares

• The Trade: Texas Capital Bancshares, Inc. TCBI Director Robert Stallings acquired a total of 14,900 shares at an average price of $55.85. To acquire these shares, it cost around $832.19 thousand.
• What’s Happening: The company recently posted mixed quarterly results.
• 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.

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First Internet Bancorp

• The Trade: First Internet Bancorp INBK Chairman and CEO David B Becker bought a total of 10,000 shares at an average price of $23.60. To acquire these shares, it cost around $236 thousand.
• What’s Happening: First Internet Bancorp recently reported worse-than-expected Q3 earnings.
• What First Internet Bancorp Does: First Internet Bancorp is a bank holding company. Through its subsidiaries, it provides commercial real estate (CRE) lending, including nationwide single tenant lease financing and commercial and industrial (C&I) lending, including business banking/treasury management services.