Stocks With Notable Insider Buying Some of the few companies that saw notable insider buying during this recent reporting period were People's United Financial ( PBCT), Nasdaq OMX Group ( NDAQ), KeyCorp ( KEY), Caterpillar ( CAT) and Cincinnati Financial ( CINF). Earlier this month, I addressed the buying at People's United, KeyCorp and Nasdaq in " 5 Stocks With Big Insider Buying." The trend that's most important here is the willingness of insiders at financial companies to snap up their shares, with the buying at KeyCorp, People's United and Cincinnati Financial. This is something that market players need to follow very closely in the coming weeks and months. The banks could be due for some big upside soon. Clearly, insiders at many of these financial institutions are starting to find some value in their stocks. I would also like to point out that late last week, we saw three more financials whose insiders stepped in and bought large amounts of their shares. Pacific Capital Bancorp A director at Pacific Capital Bancorp ( PCBC) just bought 16,175 shares, or $498,893 worth of stock, at an average price of $30.85. This bank holding company provides a range of commercial and consumer banking services to households, professionals and businesses primarily in the central coast of California. The stock is trending up on the year with shares racking up around 8% worth of gains. From a technical standpoint, watch for a breakout in PCBC if the stock can trade above $32 a share. If it can trade above that level, then shares could run toward their next significant overhead resistance level at around $35.70. First Midwest Bancorp A director at First Midwest Bancorp ( FMBI) just bought 37,274 shares or $465,552 worth of stock, at an average price of $12.49. This bank holding company has operations throughout the greater Chicago metropolitan area, as well as Central and Western Illinois. So far in 2011, the stock is up over 5%. From a technical standpoint, I would be a buyer of this stock if it can manage to hold around its 200-day moving average of $11.60. The stock also has some previous support at around $11.50 to $11.10 a share. Monitor this name going forward to see if FMBI can hold at around these levels before you jump in from the long side. First Midwest shows up on a recent list of 10 Community Bank M&A Targets.