JP Morgan share price rises after Dimon buys 500,000 shares worth $26.5m

Shares in JP Morgan rose 1.4% in after-hours trading after its CEO, Jamie Dimon, bought 500,000 shares in the bank, worth around $26.5m.

JP Morgan Chase share price rises after chief executive Jamie Dimon buys 500,000 shares worth $26.5m

JP Morgan chief executive Jamie Dimon has bought 500,000 shares in the bank, worth roughly $26.5m, City A.M. understands.

The bank's shares rose 1.4 per cent in after-hours trading, after the purchase was first reported.

JP Morgan was one of many global lenders whose shares were clobbered during turbulent trading today. The bank's shares ended at $53.07, 4.4 per cent lower.

Other US banks were hit as investors panicked, with Goldman Sachs finishing four per cent lower, while Citigroup fell 6.4 per cent and Bank of America dropped 6.9 per cent.

Across the pond, British lenders were also hit, with Barclays falling seven per cent, Standard Chartered falling 5.1 per cent, and HSBC falling 4.8 per cent.

A regulatory filing last month showed Dimon's pay rose to $27m in 2015, up 35 per cent from $20m the year before.

That included $20.5m in performance share units, which is linked to targets, as well as a $5m cash bonus and a salary of $1.5m.

JP Morgan did not comment.

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