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Bank CEOs Are Buying: West Coast Bancorp (WCBO), ABC Bancorp (ABCB), Mercantile Bank Corp. (MBWM), and GMH Communities Trust (GCT)

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It has been a good stock market, but bank stocks are among those out of favor, especially regional banks because of the recent meltdown of subprime loans. Interestingly, CEO of these banks are buying. It might be a sweet spot for value investors, too.

These are companies that their CEOs are buying during the past week. West Coast Bancorp (WCBO), ABC Bancorp (ABCB), Mercantile Bank Corp. (MBWM), and GMH Communities Trust (GCT)

West Coast Bancorp (WCBO)

President and CEO of West Coast Bancorp (WCBO), Robert D Sznewajs, bought 2,000 shares of WCBO stock on 07/20/2007 at the average price of $27.78. West Coast Bancorp operates as the holding company for West Coast Bank, which provides various banking and related financial services to individuals, professionals, and businesses in western Oregon and southwestern Washington. West Coast Bancorp has a market cap of $435.27 million, it was traded at around $27.27 with P/E ratio of 14.12

West Coast Bancorp (WCBO) is also bought by its director David J Truitt, who bought 1,000 shares of WCBO stock on 01/29/2007 at the average price of $32.52, the price of the stock has declined by -16.14% since.

ABC Bancorp (ABCB)

President & CEO of ABC Bancorp (ABCB), Edwin W Jr Hortman, bought 3,000 shares of ABCB stock on 07/20/2007 at the average price of $21.03, the price of the stock has decreased by -2.33% since.

Ameris Bancorp operates as a holding company for the Ameris Bank that offers a range of banking products and services to retail and commercial customers located in Georgia, Alabama, northern Florida, and South Carolina. ABC Bancorp has a market cap of $277.49 million, it was traded at around $20.54 with P/E ratio of 12.44.

Interestingly, ABC Bancorp is also bought by its CFO and other officers. EVP & CFO Dennis J Jr Zember bought 5,200 shares of ABCB stock on 05/10/2007 at the average price of $21.95. He also bought 4000 shares in February. The stock prices have declined more than 10% since he bought. EVP & Group President C John Iii Hipp bought more than 10,000 shares of ABCB stock over the past 6 months as well.

Mercantile Bank Corporation (MBWM)

Chairman, President and CEO Michael H Price bought 5,000 shares of MBWM stock on 07/16/2007 at the average price of $21.78. Mercantile Bank Corporation operates as the holding company for Mercantile Bank of Michigan that provides commercial and retail banking services primarily to small- to medium-sized businesses located in the Grand Rapids, Holland, Lansing in Michigan.

Mercantile Bank Corporation is also bought by a few other directors and officers: Director Dale J Visser bought 5,000 shares of MBWM stock on 07/19/2007. Share prices of this small bank have suffered strong declines. Director C John Gill bought 1,000 shares of MBWM stock on 01/30/2007 at the average price of $34.98, the price of the stock has decreased by -41.42% since.

GMH Communities Trust (GCT)

President, CEO & Chairman of GMH Communities Trust, Gary M Holloway, bought 20,000 shares of GCT stock on 07/13/2007 at the average price of $9.68, the price of the stock has increased by 0.31% since; earlier on 05/31/2007 Gary M Holloway bought another 30,000 shares of GCT stock at the average price of 10.22, the price of the stock has decreased by -4.99% since.

GMH Communities Trust operates as a real estate investment trust (REIT). The company provides housing to college and university students residing off-campus and to members of the United States military and their families. GMH Communities Trust has a market cap of $402.78 million.

GCT is also bought by other directors. Director Richard A Silfen bought 3,000 shares of GCT stock on 05/24/2007 at the average price of $9.97, the price of the stock has decreased by -2.61% since. Director Dennis J Oleary bought 7,500 shares of GCT stock on 05/16/2007 at the average price of $10.1, the price of the stock has decreased by -3.86% since.

For more information about insider buys, go to:

Latest List of Companies that their CEO bought

Latest List of Companies that their CFO bought

Companies that Insiders bought the most

Companies that both Gurus and Insiders are buying

Companies that both Gurus and Insiders are buying, and Company is buying back shares

  • 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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