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Regions Financial Corporation Message Board

  • scamsouth69 scamsouth69 Jul 27, 2009 1:48 PM Flag

    insider trading?

    Irene estevez just bought 15k shares of stock. I know you typically think of insider trading right before the price goes up, but waiting to buy right after bad news is suspicious.

    Any OBJECTIVE thoughts about this?

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    • "Irene estevez just bought 15k shares of stock. I know you typically think of insider trading right before the price goes up, but waiting to buy right after bad news is suspicious.

      Any OBJECTIVE thoughts about this?"

      Well, the fact is that I entered RF at about the same time she entered. I was hopeful that Regions would declare better than expected earnings this quarter, but I did not take my chances and sold my position at $4.20. I know the stock normally fluctuates between $4-4.20. I saw the stock at resistance level and sold waiting for another entry point under $4. Earnings report came out and the stock price fell. I waited a couple of days and the stock bottomed at $3.30. When I saw the stock had finally reached a bottom and there were no downgrades after the earnings report, that's when I purchased. The stock price was trully undervalued. Then later I found out that the CFO had purchased at about the same time I did for about the same price.

      You are trying to make it sound that she knew the price was going to drop after bad earnings report, but what about if it was the significant price drop what motivated the CFO to purchase an additional 15K shares? We hadn't seen RF under $3.60 for the past three months.

    • mark.brandenburg Jul 29, 2009 3:37 AM Flag

      scamsouth69....your post is very illogical. She waited to buy after the news was public...therefore, she didn't engage in insider trading. If she knew there was going to be a positive earnings report and purchased before the announcement, then this would have been trading on insider information.
      Nothing suspicious here except your logic!

    • Did anybody think that earnings were going to be good? Anybody who was already an owner and looking to buy more would have waited IF they’re paying attention to current market conditions. Given the meltdown that has occurred (and has only been saved by central banks flooding the system with money – let’s be honest here), did anybody think that business was going well and they were going to report .50/share in earnings? I don’t know anybody who really did... I was just hoping for less bad than anticipated and I got what I expected.

      Therefore, if I’m an officer of a bank and I’m looking around and seeing a foreclosure on every street and the shares in my bank have begun to fall, I’m not going to throw money into a furnace and buy shares when I think I stand a pretty good shot at buying them a few months down the road at a price that’s 25% lower. I’m waiting for the earnings report to come out and see the reaction... and she was exactly right because it looked like the earnings report shook out a lot of people who were expecting the .50/share in earnings.

      Insider trading? I don't think so. Seems to me a person being prudent about purchases.

    • I think more puzzling is how on Feb 24 in non open market buying Hall purchased 355,956 shares, Wells 142,824 and Esteves 144,092, all on the same day. They were also the same three most recent buyers. One thing for sure, their 24 Feb buys were smart at 3.29/. Three buys in Feb for approx 650,000 shares, that is what is interesting.

      • 2 Replies to greyfoxrunnin
      • There is consistent insider buys on this thing, you shorts must be getting desperate if all you can do is grasp at straws, feebly trying to turn a positive indicator into a scandal.

        They had big insider sales at $8 to $11 in 2008, but you don´t attack that. Gee, maybe it is because they believed in their company, and back in 2011 the shares looked undervalued to them.

        This year there are a lot of insider buys in the $6s, $3s, $4s and $5s, good sign.

      • They didn't purchase anything on Feb 24th. Aquisition Non Open market Usually it means from the company, as compensation, not in the open market. It might be via an option (but this is usually stated on the SEC forms), but it might be a grant, a gift, or paid in lieu of money for services performed.

    • How do you know? Link?

8.53-0.92(-9.74%)Jun 24 4:04 PMEDT