A week ago, we reported that bank insiders were buying while the Financial Services industry stocks were selling off. During the past week, we saw the general market continued it sell-off with S&P 500 Index declined 4.54%. The Financial Services firms, on the other hand, held up better than the general market: XLF declined 1.81% (only!).
We observe the trend of bank insider purchasing continues. According to GuruFocus Data, of the 46 companies having had two or more insiders buying during the past week, again 18 (40%) companies are Financial Services companies.
Among the 18 companies made on the list this week:
Financial Institutions Inc. (FISI, Financial) and Hampton Roads Bankshares Inc.(HMPR, Financial) appeared in the list of 18 in the week before. Six FISI insiders bought 23,950 shares in eight transactions. FISI is also the company with most number of insider buying, and their shares lost most money among the 18 companies for this week. Here is the trading data for the past two weeks:
Two HMPR insiders bought 21,086 shares in three transactions:
GLG Partners, Inc (GLG, Financial) is the company having most number of shares bought by insiders last week. Two insiders, Co-CEO Noam Gottesman and Co-CEO Emmanuel Roman bought a total of 468,446 shares, making GLG one of the Top CEO Buy of the week.
Intervest Bancshares Corp. (IBCA, Financial) is the company with the second most number of shares bought for the week. Four directors bought 54,000 shares in the week.
The three insiders of Timberland Bancorp Inc.(TSBK, Financial) are among the luckiest investors during the week, the shares they bought during the week returned an average of 43.79%, 52.75%, and 4.51%, respectively. When coming to market timing, insiders do have advantages, sometimes.
To see the complete list of the 18 financial service companies, click here (premium service required, free trial available.)
We observe the trend of bank insider purchasing continues. According to GuruFocus Data, of the 46 companies having had two or more insiders buying during the past week, again 18 (40%) companies are Financial Services companies.
Among the 18 companies made on the list this week:
Financial Institutions Inc. (FISI, Financial) and Hampton Roads Bankshares Inc.(HMPR, Financial) appeared in the list of 18 in the week before. Six FISI insiders bought 23,950 shares in eight transactions. FISI is also the company with most number of insider buying, and their shares lost most money among the 18 companies for this week. Here is the trading data for the past two weeks:
| Insider | Position | Date | Trades | Shares | Trade Price ($) | Change (%) |
| MILLER RONALD A | EVP & CFO | 2009-02-26 | Buy | 2000 | $3.87 | -14.73 |
| KAILBOURNE ERLAND E | Director | 2009-02-26 | Buy | 5000 | $3.6 | -8.33 |
| KLOTZBACH KEVIN B | Senior VP & Treasurer | 2009-02-26 | Buy | 3000 | $3.75 | -12 |
| TYLER JOHN R JR | Director | 2009-02-25 | Buy | 500 | $3.96 | -16.67 |
| HUMPHREY PETER G | Pres & CEO | 2009-02-25 | Buy | 3000 | $4.06 | -18.72 |
| KAILBOURNE ERLAND E | Director | 2009-02-24 | Buy | 5000 | $4.79 | -31.11 |
| ROBINSON JAMES LEON | Director | 2009-02-24 | Buy | 4000 | $4.13 | -20.1 |
| MILLER RONALD A | EVP & CFO | 2009-02-24 | Buy | 1450 | $4.12 | -19.9 |
| HUMPHREY PETER G | Pres & CEO | 2009-02-20 | Buy | 1000 | $5 | -34 |
| KAILBOURNE ERLAND E | Director | 2009-02-20 | Buy | 5000 | $5.45 | -39.45 |
Two HMPR insiders bought 21,086 shares in three transactions:
| Insider | Position | Date | Trades | Shares | Trade Price ($) | Change (%) |
| SLONE JORDAN E | Director | 2009-02-26 | Buy | 220 | $6.7 | -3.13 |
| SLONE JORDAN E | Director | 2009-02-25 | Buy | 9866 | $6.68 | -2.84 |
| HALL RICHARD F III | Director | 2009-02-24 | Buy | 11000 | $7 | -7.29 |
| SLONE JORDAN E | Director | 2009-02-20 | Buy | 10000 | $7.59 | -14.49 |
| HALL RICHARD F III | Director | 2009-02-19 | Buy | 5000 | $8.25 | -21.33 |
| Smith Roland C Sr | Director | 2009-02-19 | Buy | 5000 | $7.99 | -18.77 |
| Smith Roland C Sr | Director | 2009-02-18 | Buy | 5000 | $8.5 | -23.65 |
| GLENN TIFFANY K | 2009-02-06 | Buy | 4733 | $8.5 | -23.65 | |
| GIBSON JACK W | CEO, Director | 2009-02-06 | Buy | 5859 | $8.5 | -23.65 |
| Smith Roland C Sr | Director | 2008-10-30 | Buy | 658 | $9.85 | -34.11 |
GLG Partners, Inc (GLG, Financial) is the company having most number of shares bought by insiders last week. Two insiders, Co-CEO Noam Gottesman and Co-CEO Emmanuel Roman bought a total of 468,446 shares, making GLG one of the Top CEO Buy of the week.
| Insider | Position | Date | Trades | Shares | Trade Price ($) | Change (%) |
| Gottesman Noam | Chairman & Co-CEO, 10% Owner | 2009-02-26 | Buy | 4404 | $2.24 | -3.13 |
| Roman Emmanuel | Co-CEO, 10% Owner | 2009-02-25 | Buy | 113320 | $2.25 | -3.56 |
| Gottesman Noam | Chairman & Co-CEO, 10% Owner | 2009-02-23 | Buy | 137400 | $2.19 | -0.91 |
| Roman Emmanuel | Co-CEO, 10% Owner | 2009-02-23 | Buy | 213322 | $2.23 | -2.69 |
Intervest Bancshares Corp. (IBCA, Financial) is the company with the second most number of shares bought for the week. Four directors bought 54,000 shares in the week.
| Insider | Position | Date | Trades | Shares | Trade Price ($) | Change (%) |
| WOOD WESLEY T | Director | 2009-02-27 | Buy | 20000 | $2.52 | -2.78 |
| WILLETT THOMAS E | Director | 2009-02-27 | Buy | 4000 | $2.45 | 0 |
| HOLLY WAYNE F | Director | 2009-02-26 | Buy | 5000 | $2 | 22.5 |
| DEROSA PAUL R | Director | 2009-02-26 | Buy | 25000 | $2.02 | 21.29 |
The three insiders of Timberland Bancorp Inc.(TSBK, Financial) are among the luckiest investors during the week, the shares they bought during the week returned an average of 43.79%, 52.75%, and 4.51%, respectively. When coming to market timing, insiders do have advantages, sometimes.
| Insider | Position | Date | Trades | Shares | Trade Price ($) | Change (%) |
| ROBBEL RONALD A | Director | 2009-02-26 | Buy | 1500 | $3.99 | 4.51 |
| SMITH DAVID ALAN | Director | 2009-02-24 | Buy | 4000 | $2.73 | 52.75 |
| HAMRE CLARENCE E | Director | 2009-02-24 | Buy | 4000 | $2.9 | 43.79 |
To see the complete list of the 18 financial service companies, click here (premium service required, free trial available.)
