Insiders buying bank stocks during market dip and failures.
Bank insiders have been buying up shares of their own stocks, including Fifth Third Bancorp, Stellar Bancorp, and Coastal Financial, indicating they believe their company shares are undervalued. Fifth Third Bancorp's director Gary Heminger purchased 47,500 shares, while Stellar Bancorp's directors Joe Swinbank and Joe Penland bought 37,841 and 10,000 shares, respectively. Coastal Financial's director Steven Hovde purchased 30,000 shares. These purchases come after Charles Schwab CEO Walter Bettinger purchased 50,000 shares of his own company's stock, which has fallen by over 30% since the crisis began.