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Financial Insiders Continue Buying Spree: Financial Institutions Inc., Hampton Roads Bankshares, GLG Partners, Intervest Bancshares, Timberland Bancorp

February 28, 2009 | About:

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) and Hampton Roads Bankshares Inc.(HMPR) 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) 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) 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) 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.)

  • 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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