Finance
More Bank Insiders Are Buying Shares in Their Own Companies
- Unique buyers jump to 778 in second quarter from 524 in first
- Purchases are a sign of ‘long-term confidence’ in the industry
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More bank insiders are buying shares in their own companies, a vote of confidence in the industry after a crisis sparked by the collapse of four regional lenders earlier this year.
The number of buyers has already jumped to 778 in the second quarter through May 26 from 524 in the first three months of the year, according to research firm VerityData, which said the surge is being driven by small and midsize banks. More purchasers stepped up even as share prices sank to multiyear lows in early May.