JPMorgan (JPM) CEO Dimon Buys 500K Shares, Spending $11.5M
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A filing after the close showed JPMorgan Chase (NYSE: JPM) CEO Jamie Dimon bought 500,000 shares on 1/16 at $22.93, bringing his stake to 5,116,053 shares. Dimon spent about $11.5 million on the purchase.
Earlier this afternoon, insider buying was being disclosed at JPM competitor Bank of America (NYSE: BAC), with the CEO there, Ken Lewis, buying 200,000 common shares for about $1.2 million and also buying about $2 million in preferred shares.
Dimon's buy is clearly more significant in dollar terms, but with the sector in free-fall and nationalization talk abound just yesterday the buying, as a whole, is a good sign for the industry.
Earlier this afternoon, insider buying was being disclosed at JPM competitor Bank of America (NYSE: BAC), with the CEO there, Ken Lewis, buying 200,000 common shares for about $1.2 million and also buying about $2 million in preferred shares.
Dimon's buy is clearly more significant in dollar terms, but with the sector in free-fall and nationalization talk abound just yesterday the buying, as a whole, is a good sign for the industry.
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