Corporate insiders step up stock purchases after bank turmoil

Corporate insiders then raced to buy stock in their own companies. Last month’s banking crisisindicating a vote of confidence in the market recovery this year.

More than 1,000 officers and directors from over 600 companies purchased their shares in March. That’s the highest number on an individual and corporate basis since last May, according to insider trading data analytics provider Washington Service. The ratio of insider buying to selling last month ballooned to its highest level since September, the company found.