Insiders Buying Texas Capital Bancshares And 3 Other Stocks

Although U.S. stocks closed lower 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.

Nuvectis Pharma

• The Trade: Nuvectis Pharma, Inc. NVCT 10% owner Charles Mosseri-Marlio acquired a total of 10,000 shares an average price of $13.97. To acquire these shares, it cost around $139,700.
• What’s Happening: Nuvectis Pharma recently announced FDA clearance of NXP900 IND.
• What Nuvectis Pharma Does: Nuvectis Pharma Inc is a biopharmaceutical company. The company is engaged in the development of innovative precision medicines for the treatment of serious conditions of unmet medical needs in oncology.

B. Riley Financial

The Trade: B. Riley Financial, Inc. RILY Co-CEO Thomas J. Kelleher acquired a total of 9,633 shares at an average price of 54.10. To acquire these shares, it cost around $521,172.

What’s Happening: B. Riley Financial priced its 1,818,182 share offering at $55 per share.

What B. Riley Financial Does: B. Riley Financial Inc is a diversified financial services company. The company through its subsidiaries offers investment banking and financial services to corporate, institutional and high net worth clients and also asset disposition, valuation and appraisal and capital advisory services to retail, wholesale, institutional, lenders, capital providers, private equity investors, and professional services firms in United States, Canada, and Europe.

Don’t forget to check out our premarket coverage here

Independent Bank

The Trade: Independent Bank Corporation IBCP Director Dennis Archer Jr bought a total of 6,000 shares at an average price of $19.26. To acquire these shares, it cost around $115,549.

What’s Happening: Independent Bank reported better-than-expected second-quarter financial results.

What Independent Bank Does: Independent Bank Corp (Ionia MI) operates as a commercial bank. It offers a broad range of banking services to individuals and businesses, including checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending, and safe deposit box services.

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Texas Capital Bancshares

The Trade: Texas Capital Bancshares, Inc. TCBI Director Robert Stallings bought a total 2,000 shares at an average price of $61.98. The insider spent around $123,960 to buy those shares.

What’s Happening: Texas Capital Bancshares posted upbeat second-quarter 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.