$2.5M Bet On Truist Financial? Check Out These 3 Stocks Insiders Are Buying

Although U.S. stocks closed mixed on Thursday, 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.

Truist Financial

• The Trade: Truist Financial Corporation TFC Chairman and CEO William H Rogers Jr acquired a total of 57,300 shares at  an average price of $43.96. To acquire these shares, it cost around $2.52 million.
• What's Happening: On July 22, Truist Finl posted upbeat quarterly earnings.
• What Truist Financial Does: Based in Charlotte, North Carolina, Truist is the combination of BB&T and SunTrust. Truist is a regional bank with a presence primarily in the Southeastern United States.

Texas Capital Bancshares

• The Trade: Texas Capital Bancshares, Inc. TCBI Director Robert W Stallings acquired a total of 5,500 shares at an average price of $20.54. To acquire these shares, it cost around $112,950.
• What's Happening: On July 18, Texas Capital Bancshares reported worse-than-expected second-quarter financial 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.

Peoples Financial

• The Trade: Peoples Financial Corporation PFBX Director Ronald G Barnes bought a total of 1,000 shares at an average price of $16.00. To acquire these shares, it cost around $16,000.
• What's Happening: On July 24, the company said net income for the second quarter was $2,329,000 down from $2,910,000 for the year-ago quarter.
• What Peoples Financial Does: Peoples Financial Corp is a bank holding company that provides banking, financial and trust services to individuals, small and commercial businesses operating in Mississippi, Louisiana, and Alabama.

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