Praveen Chawla
The ongoing bank scare and the failure of Silicon Valley Bank and Signature Bank has sent stock prices of many financials plummeting. One stock which appears to have strong value is Charles Schwab Corp. the largest brokerage in the US. The stock has fallen from over $80 this year to the mid-50's now a sudden decline of over 35%. This is likely an overreaction and six insiders have recently stepped up to buy shares:
NYSE:SCHW Related Insider Tradings
| Insider | Position | Insider Trade Date | Shares Change | Buy/Sell | Price |
|---|---|---|---|---|---|
| Ellis Stephen A | Director |
2023-03-15
|
34,387.00
|
Buy |
58.26
|
| Ricketts Todd M | Director |
2023-03-14
|
10,000.00
|
Buy |
56.79
|
| ADAMS JOHN K JR | Director |
2023-03-14
|
5,000.00
|
Buy |
59.31
|
| Crawford Peter B. | MD and CFO |
2023-03-14
|
5,000.00
|
Buy |
57.96
|
| Bettinger Walter W | Co-Chairman and CEO |
2023-03-14
|
50,000.00
|
Buy |
59.31
|
| Ellis Stephen A | Director |
2023-03-14
|
6,757.00
|
Buy |
56.08
|
| Craig Jonathan M. | Please see remarks |
2023-03-06
|
34,667.00
|
Sell |
76.33
|
Gurufocus Valuation charts shows strong value.
This may be a good opportunity to pick up some shares which the nervous nellies are selling. An old-fashioned bank run is an opportunity not to be wasted. Buck up and Buy Schwab
