Bank Insiders Look Smart For a Change (C, WFC, BAC)
More News related to BAC
- S&P Revises Credit Outlooks On BofA (BAC) and Citi (C) to Negative, Saying No More Free Govenment Handouts
- Active equity option families in first 30 minutes of trading according to Track Data are: GE BAC FSLR OXY
- Bank of America Merrill Lynch Announces Global Capital Markets Leadership
- S&P Lowers BofA (BAC) Credit Outlook from Stable to Negative
- China's Massive Investment Fund Discloses $9.63 Billion U.S. Portfolio (TCK, MS, BLK, V, more...)
More News related to C
- S&P Revises Credit Outlooks On BofA (BAC) and Citi (C) to Negative, Saying No More Free Govenment Handouts
- S&P Revises Outlook on Citigroup (C) from Stable to Negative
- Citigroup CFO John Gerspach to Present at the 2010 Credit Suisse Financial Services Forum
- China's Massive Investment Fund Discloses $9.63 Billion U.S. Portfolio (TCK, MS, BLK, V, more...)
- Weak Securitization Market Impacts Asset Sales by Citigroup (C) and Others
More News related to WFC
- Latest Wells Fargo Survey: Small Business Owner Optimism Remains Low; Outlook for Capital Spending and Revenue Improves
- Wells Fargo Extends Text Banking to All Customers
- Wells Fargo to Present at Credit Suisse Financial Services Forum 2010
- Wells Fargo Names John Carley to Agribusiness Group
- Wells Fargo Commercial Banking Sets Stage for Growth in California
More News related to Insider Trades
- Furniture Brands (FBN) CEO Buys 50K Shares, Other Execs Also Buy
- Greenbrier (GBX) CEO Buys 15K Shares
- Micrel (MCRL) CEO Buys 40K Shares, CFO Buys 7.5K Shares
- Health Management Associates (HMA) CFO Curry Buys 10K Shares
- FMC Corp (FMC) CEO Buys $1M In Open Market Trades
Some recent bank insiders that bought stock in their respective banks are finally looking smart after looking like fools for some time.
Over the years, insider buying has been seen as a sign of strength of a company, but lately, especially in the banks, the buying has been seen as a sign of weakness. Investors view the buys as feeble attempts at confidence building. The intended confidence never materializes and the stocks continue to be brutalized by running shareholders and the short sellers that continuously pounce on the once-mighty blue chips, turned penny stocks.
Here are some recent "smart" insider buys:
Of course there have been many, many "dumb" insider buys in the banks. You can view some of the dumb insider moves by visiting the 'Insider Trade' categories of the respective stocks. C - Here, WFC - Here, BAC - Here.
For more insider trading ideas you can visit StreetInsider.com's 'Insider Trades' news feed here.
Related Categories
Insider TradesInsiders' Blog
Stocks Mentioned
-0.01
+0.03Related Entities
Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
A fool don't get fooled again
Panda Xpress on Mar 11, 2009 11:53 PMDollar cost average. If it was a one-and-done sole position, it'd be a phenomenal instance of foresight. Naturally, if foresight was the forte of these bank executives, they wouldn't have bought all the way down as the bank stock prices sank by more than three quarters, let alone putting their companies in such a position that the stocks would so freely dive in the first place by way of shortsightedness.