Insiders Buying Columbia Banking System And 2 Other Stocks

Author: Avi Kapoor | February 05, 2024 10:17am

Although U.S. stocks closed higher on Friday, there were a few notable insider trades.

When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.

Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform.

Columbia Banking System

• The Trade: Columbia Banking System, Inc. (NASDAQ:COLB) Director Randal Lee Lund acquired a total of 1,000 shares an average price of $19.29. To acquire these shares, it cost around $19,288.
• What’s Happening: Columbia Banking System reported weaker-than-expected fourth-quarter financial results.
• What Columbia Banking System Does: Columbia Banking System Inc is a registered bank holding company whose wholly-owned banking subsidiary is Columbia State Bank.

Intel

• The Trade: Intel Corporation (NASDAQ:INTC) CEO Patrick P Gelsinger acquired a total of 7,163 shares at an average price of $42.91. To acquire these shares, it cost around $15,657.
• What’s Happening: Intel has postponed its $20 billion chip-manufacturing project in Ohio due to market difficulties and slow government funding.
• What Intel Does: Intel is a leading digital chipmaker, focused on the design and manufacturing of microprocessors for the global personal computer and data center markets. Intel pioneered the x86 architecture for microprocessors and was the prime proponent of Moore's law for advances in semiconductor manufacturing.

Don’t forget to check out our premarket coverage here

Texas Capital Bancshares

• The Trade: Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Director Robert W Stallings bought a total of 9,000 shares at an average price of $39.14. To acquire these shares, it cost around $214,600.
• What’s Happening: Texas Capital Bancshares posted downbeat quarterly earnings.
• What Texas Capital Bancshares Does: Texas Capital Bancshares Inc is a secured lender, with the majority of the loans held for investment, excluding mortgage finance loans and other national lines of business.

 

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Posted In: COLB INTC TCBI