As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Friday, Ameris Bancorp (NASDAQ:ABCB)'s Director, Jimmy D. Veal, made a $71,191 purchase of ABCB, buying 3,180 shares at a cost of $22.39 each. Ameris Bancorp is trading up about 1.1% on the day Tuesday. Before this latest buy, Veal purchased ABCB at 3 other times during the past twelve months, for a total cost of $82,356 at an average of $20.04 per share.
And also on Friday, Executive Vice President Christopher Y. Downs bought $68,760 worth of BSB Bancorp (NASDAQ:BLMT), buying 4,000 shares at a cost of $17.19 a piece. Before this latest buy, Downs purchased BLMT at 2 other times during the past year, for a total cost of $166,930 at an average of $16.54 per share. BSB Bancorp is trading down about 0.2% on the day Tuesday. So far Downs is in the green, up about 0.9% on their buy based on today's trading high of $17.35.
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