Directors dealings: Aldermore chairman tops up stake

Aldemore chairman Glyn Jones went bottom-fishing in shares of his company, picking up £118,883.00-worth of stock on 30 June, the company said in a statement.

Shares in the 'challenger' bank had been mauled in the aftermath of the Brexit vote.

Jones bought 100,000 shares at 118,88p each, taking his total stake in the lender which is heavily-exposed to the UK residential markets to 881,468 shares or 0.26% of its shareholders´ equity.

In its first quarter update, Aldermore announced business finance orignation was up by 18% to £272m, while mortgage origination rocketed 60% to £542m in the run-up to the increase in stamp duty on 1 April

"We have made an excellent start to the year with our best ever quarter of origination as we delivered double digit growth in new lending in both our Business Finance and Mortgages divisions," Philip Monks said.

On 30 June, analysts at Barclays increased their estimate for the bank´s cost of equity from 11.5% to 15.0% and lowered their target price on the shares from 235p to 120p, while reiterating their 'equalweight' recommendation on the stock.

Top Director Buys

Aldermore Group (ALD)
Director name: Jones,Glyn
Amount purchased: 100,000 @ 118.88p
Value: £118,883.00

Hunting (HTG)
Director name: Hunting,Richard
Amount purchased: 3,277 @ 476.00p
Value: £15,598.52

Vianet Group (VNET)
Director name: Dickson,James
Amount purchased: 5,000 @ 95.00p
Value: £4,750.00

Jpmorgan American Inv Trust (JAM)
Director name: Bragg,Simon
Amount purchased: 409 @ 309.14p
Value: £1,264.38

Wolf Minerals Limited (WLFE)
Director name: Royston Clarke,Nicholas
Amount purchased: 44,743 @ n/a
Value: n/a

Wolf Minerals Limited (WLFE)
Director name: Hopkins,John
Amount purchased: 89,485 @ n/a
Value: n/a

Top Director Sells

Eco Animal Health Group (EAH)
Director name: Stockdale,Kevin
Amount purchased: 362,600 @ 418.50p
Value: £1,517,480.98

Eco Animal Health Group (EAH)
Director name: Trouse,Julia
Amount purchased: 125,000 @ 418.50p
Value: £523,124.99

Ab Dynamics (ABDP)
Director name: Rogers,Timothy (Tim) John
Amount purchased: 34,748 @ 395.00p
Value: £137,254.60

Goals Soccer Centres (GOAL)
Director name: Rogers,Keith
Amount purchased: 45,000 @ 112.00p
Value: £50,400.00

Goals Soccer Centres (GOAL)
Director name: Rogers,Keith
Amount purchased: 25,000 @ 115.00p
Value: £28,750.00