Friday 2/3 Insider Buying Report: SBSI, IBCPThe Online Investor - Fri., Feb. 3, 2:17 PM 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, Southside Bancshares' Director, Herbert C. Buie, made a $88,607 buy of SBSI, purchasing 2,380 shares at a cost of $37.23 each. Buie was up about 6.8% on the purchase at the high point of today's trading session, with SBSI trading as high as $39.77 at last check today. Southside Bancshares is trading up about 1.6% on the day Friday.
And at Independent Bank, there was insider buying on Monday, by Executive Vice President Gavin A. Mohr who bought 1,600 shares for a cost of $21.68 each, for a total investment of $34,688. Before this latest buy, Mohr made one other buy in the past year, purchasing $42,609 shares at a cost of $21.30 each. Independent Bank is trading up about 1.1% on the day Friday. Mohr was up about 6.2% on the buy at the high point of today's trading session, with IBCP trading as high as $23.02 at last check today.
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