Director John Schultz Acquires 8,559 Shares of Columbia Banking System Inc
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In a recent transaction on January 29, 2024, John Schultz, a director at Columbia Banking System Inc (NASDAQ:COLB), increased his stake in the company by purchasing 8,559 shares. This transaction was filed with the SEC and can be found in detail here.
Columbia Banking System Inc is a registered bank holding company. The company operates through its subsidiary, Columbia State Bank, which provides a full range of banking services to small and medium-sized businesses, professionals, and individuals. It offers personal banking products and services, including noninterest and interest-bearing checking, savings, money market, and certificate of deposit accounts, and home mortgages for purchases and refinances.
Insider buying and selling activities are closely monitored by investors as they can provide insights into a company's financial health and future prospects. An insider purchase can indicate the insider's confidence in the company's future performance, while insider sales might suggest the opposite.
Over the past year, the insider has purchased a total of 8,559 shares and has not sold any shares of the company. This recent acquisition by the insider further solidifies their investment in Columbia Banking System Inc.
The insider transaction history for Columbia Banking System Inc shows a pattern of insider confidence. There have been 2 insider buys and 0 insider sells over the past year, suggesting that the insiders may believe in the company's potential for growth or undervaluation.
On the day of the insider's purchase, shares of Columbia Banking System Inc were trading at $20.4 each, resulting in a market cap of approximately $4.403 billion. The company's price-earnings ratio stands at 12.79, which is above the industry median of 9.42 but below the company's historical median price-earnings ratio.
Investors often look at insider transactions as a signal for their investment decisions. With the insider's recent purchase, market participants may want to watch Columbia Banking System Inc closely for further developments.
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This article first appeared on GuruFocus.