Although U.S. stocks closed lower on Thursday, 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.

United Security Bancshares

• The Trade: United Security Bancshares (NASDAQ:UBFO) Director Jagroop Gill acquired a total of 140,384 shares at an average price of $7.96. To acquire these shares, it cost around $1.12 million.
• What's Happening: On July 18, United Security posted second-quarter earnings of 25 cents per share.
• What United Security Bancshares Does: United Security Bancshares operates as the holding for United Security Bank.

Evans Bancorp

• The Trade: Evans Bancorp, Inc. (NYSE:EVBN) 10% owner John W Palmer acquired a total of 6,680 shares at an average price of $32.81. To acquire these shares, it cost around $219,179.
• What's Happening: Evans Bancorp will release its second quarter results after the close of financial markets on Tuesday, July 30..
• What Evans Bancorp Does: Evans Bancorp Inc is a financial holding company. Through its subsidiaries, it provides various banking services to consumers and commercial customers in the USA.

Greenwich LifeSciences

• The Trade: Greenwich LifeSciences, Inc. (NASDAQ:GLSI) CEO and CFO Snehal Patel bought a total of 1,500 shares at an average price of $15.89. To acquire these shares, it cost around $23,835.
• What's Happening: On June 14, Greenwich LifeSciences announced a $2.5 million private placement.
• What Greenwich LifeSciences Does: Greenwich LifeSciences Inc is a clinical-stage biopharmaceutical company focused on the development of GP2, an immunotherapy to prevent breast cancer recurrences in patients who have previously undergone surgery.

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