BCA Directors Scoop Up Shares During Dip, Strong Signal to Investors

Share price movements are often influenced by signals from within the company. Buying actions by directors are frequently interpreted as indicators of confidence in the business prospects.

This phenomenon was evident in the shares of PT Bank Central Asia Tbk (BBCA) in early 2026. Several company executives instead increased their holdings amid market fluctuations.

This move is regarded as a ‘buy on weakness’ strategy. This strategy refers to purchasing shares when prices correct.

In the first quarter of 2026, BCA’s board of directors recorded accumulating shares with personal funds. Hendra Lembong purchased shares worth Rp 7.93 billion.

Director Santoso also bought shares worth around Rp 3.46 billion. Frenkie Candra Kusuma collected shares worth Rp 2.87 billion since March 2025.

Lianawaty Suwono bought 300,000 shares worth around Rp 2.1 billion at the end of January 2026.

This collective action demonstrates internal confidence in BCA’s fundamentals. The move has also caught the attention of retail investors.

From a valuation perspective, BBCA shares are still considered attractive. Capital market observer Rendy Yefta states that BBCA is traded at a price-to-earnings ratio (PER) of around 15 times.

“This means investors are only paying for 15 years of earnings to own Indonesia’s largest, most efficient, and most consistent profit-generating bank,” said Rendy Yefta in an official statement on Sunday (19/4/2026).

According to Rendy, BCA has strong fundamentals, an extensive network, and dominance in low-cost funds or current account saving account (CASA).

“This is the phenomenon known as ‘mispricing’. The market seems to be offering a significant discount on BBCA shares. When investors start to realise this imbalance, what usually happens is that BBCA’s valuation will rise back to a more reasonable level,” he added.