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Bank Insiders are Buying Stocks: Wells Fargo, Thomas Weisel Partners Group, United Bankshares Inc., New Bridge Bankcorp, Financial Institutions Inc., Capital City Bank Group, Among Others

With all the talks of Nationalization, Bank stocks, big or small, are getting killed these days. XLF, the Exchange-Traded-Fund for S&P 500 Financial Sector, representing a basket of large financial institutions, was down 19.13% in the last week, actually four trading days because of the President’s Day holiday.



So what did the insiders do during the carnage of last week? According to GuruFocus Data (premium service required, free trial available), we observes that there is a cluster of buying activities among the financial institution insiders.

GuruFocus reported the unusual insider activities of Wells Fargo & Company (WFC) in this article. Data shows Wells Fargo insiders are hardly alone in the bargain hunting. Of the 50 companies that had more than one insiders buying during the past week, 18 (36%) are financial service companies. Among the 18 financial stocks:

Thomas Weisel Partners Group Inc. (TWPG) was seen to have most shares (92,865 shares) bought. Chairman and CEO Thomas Weisel bought a total of 82,300 shares last week; President and COO Lionel Conacher bought 10,565 shares on February 18, 2009. Their purchase prices were around $3.31 per share.

United Bankshares Inc. (UBSI) was the second in terms of total number of shares bought by insiders last week. A total of 74,525 shares were bought by four insiders at an average of $16.50 per share. Board Director John Mcmahon bought 50,000 shares and Chairman and CEO Richard Adams Sr. bought 20,000 shares.

New Bridge Bankcorp (NBBC) is the company with the most number of insiders buying. A total number of 9 insiders participated in the buying spree.

So far the insiders have mixed success in their investment. The three Financial Institutions Inc. (FISI) insiders lost 12.25% of their money since their purchase. But the two heroes in Capital City Bank Group (CCBG) have made 8.51% gain on their investment.

Here is the complete list of financial companies that have two or more insider buying last week.



Thomas Weisel Partners Group Inc.(TWPG)

United Bankshares Inc.(UBSI)

Wells Fargo & Company(WFC)

Prospect Capital Corp. (PSEC)

Apollo Investment Corp. (AINV)

Capital City Bank Group (CCBG)

NewBridge Bancorp. (NBBC)

PennantPark Investment Corp. (PNNT)

Ameris Bancorp (ABCB)

SCBT Financial Corp.(SCBT)

National Penn Bancshares Inc. (NPBC)

Hampton Roads Bankshares Inc. (HMPR)

Lakeland Bancorp Inc. (LBAI)

Financial Institutions Inc. (FISI)

Home BancShares Inc.(HOMB)

First BanCorp.(FBP)

AmeriServ Financial Inc. (ASRV)

Ames National Corp.(ATLO)



For detailed Insider Cluster Buy data provided by GuruFocus, click here (premium service required, free trial available),

  • CEO Buys, CFO Buys: Stocks that are bought by their CEO/CFOs.
  • Insider Cluster Buys: Stocks that multiple company officers and directors have bought.
  • Double Buys:: Companies that both Gurus and Insiders are buying
  • Triple Buys: Companies that both Gurus and Insiders are buying, and Company is buying back.

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