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 Tuesday, TriState Capital Holdings' CEO, Brian S. Fetterolf, made a $76,104 buy of TSC, purchasing 5,600 shares at a cost of $13.59 each. TriState Capital Holdings is trading down about 2.5% on the day Tuesday. Before this latest buy, Fetterolf purchased TSC on 16 other occasions during the past year, for a total investment of $458,708 at an average of $14.79 per share.
And on Friday, CHAIRMAN OF THE BOARD Wesley Miller Welborn bought $26,419 worth of SmartFinancial, buying 1,796 shares at a cost of $14.71 a piece. Before this latest buy, Welborn made one other purchase in the past year, buying $117,121 shares for a cost of $21.49 a piece. SmartFinancial is trading down about 0.3% on the day Tuesday.
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