Benzinga | Jul 23, 2021 03:22PM EDT

2 Stocks Insiders Are Buying

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.

Ames National

The Trade: Ames National Corporation (NASDAQ:ATLO) Director Kevin Swartz acquired a total of 1,000 shares at an average price of $23.25. To acquire these shares, the insider spent $23,250.

What's Happening: Ames National's shares have declined more than 6% over the past one month.

What Ames National Does: Through its subsidiaries, Ames National provides checking, savings and time deposits, cash management services, merchant credit card processing, safe deposit boxes, wire transfers, direct deposit of payroll and social security checks, and automated/video teller machine access.

S&T Bancorp

The Trade: S&T Bancorp, Inc. (NASDAQ:STBA) Director Jeffrey Grube bought a total of 3,000 shares at an average price of $28.64. To acquire those shares, it cost $85,917 for the insider.

What's Happening: S&T Bancorp, last week, reported mixed results for its second quarter. The company's shares have gained around 18% year to date.

What S&T Bancorp Does: S&T Bancorp is a bank holding company that operates in five markets, namely, Western Pennsylvania, Eastern Pennsylvania, Northeast Ohio, Central Ohio and Upstate New York.