Although U.S. stocks closed higher on Monday, there were a few notable insider trades.

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.

FB Financial

• The Trade: FB Financial Corporation (NYSE:FBK) 10% owner James Ayers acquired a total of 2,000 shares an average price of $35.50. To acquire these shares, it cost around $71,000.
• What's Happening: Hovde Group analyst Brett Rabatin recently downgraded FB Financial from Outperform to Market Perform and announced a $40 price target.
• What FB Financial Does: FB Financial Corp is a bank holding company. The company through its wholly-owned bank subsidiary provides commercial and consumer banking services to clients in select markets in Tennessee, North Alabama, and North Georgia.

Mueller Industries

• The Trade: Mueller Industries, Inc. (NYSE:MLI) Director Charles Herzog Jr acquired a total of 150 shares at an average price of $28.68. To acquire these shares, it cost around $4,303.
• What's Happening: Northcoast Research analyst Ryan Connors recently downgraded Mueller Industries from Buy to Neutral.
• What Mueller Industries Does: Mueller Industries Inc makes copper, brass, aluminum, and plastic products. The company reports three business segments: piping systems, industrial metals, and climate.

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BancFirst

• The Trade: BancFirst Corporation (NASDAQ:BANF) Executive Vice President Darryl Schmidt bought a total of 249 shares at an average price of $92.60. To acquire these shares, it cost around $23,058.
• What's Happening: BancFirst recently posted upbeat quarterly earnings.
• What BancFirst Does: BancFirst Corp is engaged in providing banking services.

William Penn Bancorporation

• The Trade: William Penn Bancorporation (NASDAQ:WMPN) Director Matthew Christopher Molden bought a total of 156 shares at an average price of $12.35. The insider spent around $1,927 to buy those shares.
• What's Happening: Piper Sandler analyst Justin Crowley recently maintained William Penn with an Overweight and raised the price target from $13 to $14.
• What William Penn Bancorporation Does: William Penn Bancorporation operates as an independent community financial services provider.

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