Six Top Insiders Report Big SCHW Buys

JC Parets
March 15, 2023

As market volatility spreads to financial sectors around the globe, CEOs, CFOs, and directors of numerous US banks continue to buy stock in a big way.

Here are yesterday’s Form 4s:

  • Coastal Financial Corporation $CCB.
  • Fifth Third Bancorp $FITB.
  • Lakeland Financial Corporation $LKFN.
  • Byline Bancorp $BY.
  • Brookline Bancorp $BRKL.
  • Cullen/Frost Bankers $CFR.
  • FB Financial Corporation $FBK.
  • Customers Bancorp $CUBI.

However, the most notable insider activity from yesterday wasn’t a regional bank.

It was the largest brokerage in the US.

The CEO, CFO, president, and three directors of The Charles Schwab Corporation $SCHW filed Form 4s reporting purchases of their own stock for a combined amount of $4.5 million.

Here’s The Hot List, with data through March 14, 2023:

The only 13G on our list was filed by Citadel Advisors LLC, which revealed an initial stake of 5.40% in Western Alliance Bancorporation $WAL.

There was also insider activity in RE/MAX Holdings $RMAX and Sonoco Products Company $SON.

In the options market, there was bullish flow in Assertio Holdings $ASRT and ZoomInfo Technologies $ZI.

On the flip side, Hewlett Packard Enterprise Company $HPE saw bearish flow.

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

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All Star Charts Team

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