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Low bank valuations spark buying sprees
When there are losers there are also always winners and buying in to the UK's banks is proving popular with share buyers. Shares in banks have caused some directors of financial institutions, in some cases the ones they work for, to buy in big and spend hundreds of thousands on share that in some cases, have dipped in value by as much as 19% since the begining of the year.
Some shares have been trading at a 15 year low and with many banks reporting a healthy profits in the past few weeks, they are very attractive to investors. Not all are sharing in the optimism shown by some industry insiders and concerns that the housing market and the credit crunch are still volatile situations have meant some are still less optimistic. Dividend yields rise as share prices fall and the banking sector is still the cheapest its been for more than ten years.
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