National Commercial Bank (NCB) advised the Jamaica Stock Exchange that a party connected to three directors purchased 552,790 of the group’s shares on May 7, another amount of 77,886 shares on May 8 and 843,924 on May 11.
NCB posted improved results in its latest quarterly report which shows a 7 percent increase in profits to $3.27 million over the similar quarter in 2014 and profits of $5.4 million for the six months to March. The stock which closed at a 4 1/2 year high of $31.10 on Wednesday, has gained 82 percent since bottoming out last year summer, at $17.
The purchases come amidst reports that NCB is slated to pick up a large block of Guardian Holdings shares. Insiders may not have stopped buying as NCB Capital Markets still a bid for an undisclosed amount at $30.
NCB insiders buy up shares
May 14, 2015 by
