Jamie Dimon's announcement last night that he was purchasing 500,000 shares (roughly $25 million) of JPMorgan is another sign that some executives see their shares as undervalued, and who could blame them? JPMorgan's stock is down 20 percent for the year.
Dimon already owns 6.2 million shares, but he has not been a big purchaser of stock, buying only twice in the last 12 years, once in January 2009 when he bought 500,000 shares, and again in July 2012 when he also bought 500,000 shares.
He's not the only one. Several bank insiders have bought stock in the past couple weeks.
Banks: Recent insider buying (source: InsiderScore)