Executives and directors at Schwab bought nearly $5 million worth of the financial-services giant's beaten-down stock Tuesday in an apparent vote of confidence.
Executives and directors at Charles Schwab Corp. scooped up nearly $5 million worth of the financial-services giant’s beaten-down stock Tuesday in an apparent vote of confidence in the company’s ability to weather the ongoing bank rout.
Two... Executives and directors at Charles Schwab Corp. scooped up nearly $5 million worth of the financial-services giant’s beaten-down stock Tuesday in an apparent vote of confidence in the company’s ability to weather the ongoing bank rout. Two fellow executives, President Richard Wurster and Chief Financial Officer Peter Crawford, each bought 5,000 Schwab shares Tuesday. Wurster bought at an average price of $57.28, for a total of about $286,000, while Crawford bought at an average price of $57.96, for a total of roughly $290,000.
Directors Stephen Ellis and Todd Ricketts were more aggressive with their purchasing, with Ellis scooping up 6,757 shares and Ricketts buying 10,000. Ellis paid $56.08 on average for each share for a total price of about $379,000, while Ricketts saw an average price of $56.79 a share and paid $567,862 in total.
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