Regional Bank Stocks Surge Amidst Insider Buying and Upbeat Outlook.

Executives of US regional banks are buying shares in their own companies at a three-year high in an effort to restore investor confidence following the collapse of Silicon Valley Bank. The buying frenzy was last seen in Q1 2020 when stocks sold off due to the spread of COVID-19. US Bancorp, East West Bancorp, Zions Bancorp, and SoFi Technologies are among the 244 banks that saw heavy insider buying in Q2 2023. The ratio of buyers to sellers in the regional banking sector has also hit a record high in Q2 2023.