Flooring Guide by Cinvex – – In the intricate world of the stock market, an investment guideline rarely misses its mark: when the ship’s captains are buying tickets en masse, it signals that the vessel is poised for a rapid journey.
Currently, we are witnessing a rare moment with shares of PT Bank Central Asia Tbk (BBCA). Amidst the market fluctuations at the start of 2026, instead of adopting a defensive stance, BCA’s top executives have aggressively “scooped up” their own company’s shares.
“This isn’t merely a routine transaction. This is the execution of a ‘buy on weakness’ strategy—acquiring premium assets when their prices are discounted,” stated market observer Rendy Yefta on Saturday (April 18).
Rendy elaborated that this significant buying spree serves as compelling evidence that those who possess the deepest understanding of the company’s “inner workings” hold strong conviction regarding BCA’s long-term prospects.
“Let’s dissect the facts on the ground for Q1 2026. These billions of rupiah were directly disbursed from the personal pockets of the directors and management,” he added.
BCA President Director Hendra Lembong massively augmented his holdings with funds amounting to Rp 7.93 billion. Concurrently, Vice President Director John Kosasih executed purchases valued at Rp 4.37 billion in March 2026.
Director Vera Eve Lim injected fresh capital of Rp 3.84 billion to significantly bolster her ownership. Another director, Santoso, solidified his position with total transaction value of Rp 3.46 billion, also in March 2026.
Meanwhile, Managing Director, Frenkie Candra Kusuma, has been accumulating shares worth Rp 2.87 billion since March 2025. Adding to this, Director Lianawaty Suwono acquired 300,000 shares valued at Rp 2.1 billion at the end of January 2026, precisely when the market was experiencing turbulence.
“If the top figures at Indonesia’s most profitable bank perceive the current price as a golden opportunity, why should retail investors hesitate?” Rendy queried, highlighting the stark contrast.
This unwavering management confidence, he continued, perfectly aligns with the current valuation reality of BCA stock. However, a more appropriate metric for comparing bank stocks is no longer PBV (Price to Book Value), but rather PER (Price to Earnings Ratio), as PER indicates how many years of earnings an investor “pays” for a company’s share price.
Currently, BBCA shares are trading at a PER of approximately 15 times. This implies that investors are effectively paying only 15 years of earnings to own Indonesia’s largest, most efficient, and most consistently profitable bank.
Potential Capital Gain
This attractive valuation, combined with the clear signal of ‘insider’ accumulation, converges to a single conclusion: BBCA stock is gearing up for a strong rebound. Acquiring BBCA at its current price is akin to purchasing premium property in a prime location during a discount sale.
Should BBCA merely return to a slightly higher valuation, for instance, a PER of 18–20 times, aligning with its historical average, then its share price holds significant potential for a substantial increase from current levels. “A target of breaking through Rp 10,000 per share within a few months emerges as a highly realistic scenario,” Rendy concluded with conviction.