Jamie Dimon
Jamie Dimon. AP Images


JPMorgan chief executive Jamie Dimon has bought 500,000 shares in the bank, according to a person familiar with the matter.

The share purchase cost around $26 million, according to the person. The news was first reported by Dow Jones.

Bank stocks have taken a hammering of late, with JPMorgan falling around 20% since 2016 started.

The purchase is likely intended as a sign of confidence in the bank.

JPMorgan’s share price jumped 2% in after-hours trading following the report, up to around $54.

Dimon received $27 million in total compensation for 2015. Broken down, it’s $1.5 million in salary, $5 million in cash bonus and $20.5 million in performance share units (PSUs), according to an SEC filing.

That works out to a 35% raise from his $20 million compensation for 2014.

As reported by Business Insider