CoreStates Financial Corp. has joined the growing list of banking companies facilitating share repurchase programs through short-selling of their own stock.

In the month after the Philadelphia superregional announced a 10% stock buyback program Oct. 15, the short interest in its stock jumped 289%, to 11,748,350 shares, according to data released by the New York Stock Exchange. That easily eclipsed any other bank.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.