Although U.S. stocks closed higher on Wednesday, 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.

RBB Bancorp

• The Trade: RBB Bancorp (NASDAQ:RBB) Director James Kao acquired a total of 15,000 shares an average price of $16.87. To acquire these shares, it cost around $253,100.
• What’s Happening: RBB Bancorp posted better-than-expected fourth-quarter results.
• What RBB Bancorp Does: RBB Bancorp operates as a bank holding company. It provides various banking products and services such as checking, savings, money market accounts, and certificates of deposits.

AXIS Capital Holdings

• The Trade: AXIS Capital Holdings Limited (NYSE:AXS) Director Stanley A Galanski acquired a total of 7,000 shares at an average price of $58.45. To acquire these shares, it cost around $409,150.
• What’s Happening: Axis Capital posted upbeat fourth-quarter earnings.
• What AXIS Capital Holdings Does: Axis Capital Holdings Ltd is a property and casualty insurance company that provides various products and services to clients and distribution partners.

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