NEW YORK ( TheStreet) -- Wells Fargo (WFC) executives are selling more stock in their own company than banking peers, the Financial Times found, and Citigroup (C) and Goldman Sachs (GS) are each exploring Ireland, but for entirely different reasons.
The fourth-largest bank in the U.S. by assets, Wells Fargo has a folksier image than peers such as JPMorgan Chase (JPM) and Goldman Sachs, but its executives are selling far more stock in the company than their peers at rival banks, the Financial Times says. In fact, CEO John Stumpf has sold $38.1 million of Wells Fargo stock since 2009.
While the sale of stock is above board, small investors might think twice about buying when the company's executives appear so eager to sell, the paper said.
Shares of Wells Fargo fell 1.13% to $57.05.
Citigroup is going where the grass is greener: The bank will be moving the head office of its European retail banking operation from London to Dublin, Reuters reported.
"The primary reason (for the move) is simplification, mirroring Citi's strategy of creating a simpler, safer, stronger institution," a spokeswoman for the bank told Reuters.
Simpler may, in fact, be correct as capital requirements in the U.K. are higher than in other European countries. The move to Dublin may relieve some regulatory headaches and could prove to be a wise move for maintaining a hold in Europe should the U.K. decide to leave the European Union. Other banks such as JPMorgan Chase and HSBC are vacating their London offices for that reason.
Shares of Citigroup closed down 0.93% at $56.23.
Citigroup isn't the only big bank interested in bargains in Ireland. Goldman Sachs is said to be in a bidding war with Deutsche Bank over $4.8 billion in Irish real estate loans held at Lloyds Banking Group, according to Bloomberg. The loans may sell at a deep discount as Lloyd's has been paring down its investments in Ireland since 2010.
The Irish Times reported in May that the portfolio has a mix of 5,000 performing and non-performing loans spread across residential, retail, industrial, and commercial real estate.
Shares of Goldman Sachs closed down 0.66% at $213.19.