Insiders Shore Up Regional Bank Shares

JC Parets
March 14, 2023

The regional banking panic that began last week has caused a drastic repricing of financial stocks. 

As selling pressure accelerates for a variety of vulnerable banks, executives are coming out and buying shares in an effort to shore up the volatility and put a vote of confidence in their stock.

Here’s the list of CEOs, CFOs, and directors of banks who filed Form 4s yesterday:

  • Cullen/Frost Bankers $CFR
  • PacWest Bancorp $PACW
  • Lakeland Financial Corporation $LKFN
  • Metropolitan Bank Holding Corp $MCB
  • Customers Bancorp $CUBI
  • East West Bancorp $EWBC
  • Heartland Financial USA $HTLF
  • First Citizens BancShares $FCNCA
  • Glacier Bancorp $GBCI

Here’s The Hot List, with data through March 13, 2023:

The filings from CUBI and MCB really stand out as the chief executive of each bank bought roughly half of a million dollars worth of shares during yesterday’s session. 

Both stocks rallied aggressively intraday and erased much of their earlier losses on these filing announcements. 

Kudos to these executives for showing great leadership through a crisis. 

In another Form 4, the CFO of Newell Brands Inc $NWL revealed the acquisition of 76,925 shares.

Adage Capital Partners filed a 13G revealing an increase in stake from 4.05% to 5.94% in Travere Therapeutics $TVTX.

Stay tuned. We'll be back on Wednesday with more insider activity.

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All Star Charts Team

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