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Wednesday 1/31 Insider Buying Report: COLB, SBSI Wednesday, January 31, 12:16 PM ET As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At Columbia Banking System, a filing with the SEC revealed that on Tuesday, Director Mark A. Finkelstein purchased 3,592 shares of COLB, for a cost of $20.87 each, for a total investment of $74,965. Bargain hunters are able to snag COLB at a price even lower than Finkelstein did, with shares changing hands as low as $20.30 at last check today -- that's 2.8% below Finkelstein's purchase price. Columbia Banking System is trading off about 3% on the day Wednesday.
And also on Tuesday, Director Herbert C. Buie bought $64,715 worth of Southside Bancshares, buying 1,990 shares at a cost of $32.52 each. Before this latest buy, Buie bought SBSI on 3 other occasions during the past year, for a total investment of $240,525 at an average of $30.92 per share. Southside Bancshares is trading down about 1.6% on the day Wednesday. Investors have the opportunity to pick up SBSI even cheaper than Buie did, with the stock changing hands as low as $31.85 in trading on Wednesday -- that's 2.1% under Buie's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase. | |
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