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.
At Trustco Bank, a filing with the SEC revealed that on Monday, CEO Robert J. McCormick purchased 65,000 shares of TRST, at a cost of $5.91 each, for a total investment of $384,150. So far McCormick is in the green, up about 9.3% on their purchase based on today's trading high of $6.46. Trustco Bank is trading down about 3.2% on the day Thursday.
And at RBB Bancorp, there was insider buying on Tuesday, by Director James Kao who bought 10,000 shares for a cost of $14.33 each, for a total investment of $143,300. Before this latest buy, Kao bought RBB at 5 other times during the past twelve months, for a total cost of $640,123 at an average of $16.41 per share. RBB Bancorp is trading down about 4.3% on the day Thursday. Investors can grab RBB even cheaper than Kao did, with shares trading as low as $13.20 at last check today -- that's 7.9% under Kao's purchase price.
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