Steven Gardner Sells 13,725 Shares of Columbia Banking System (NASDAQ:COLB) Stock

Columbia Banking System, Inc. (NASDAQ:COLB) Director Steven Gardner sold 13,725 shares of the stock in a transaction on Friday, January 30th. The shares were sold at an average price of $29.43, for a total value of $403,926.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Columbia Banking System Stock Performance

COLB opened at $31.14 on Thursday. Columbia Banking System, Inc. has a one year low of $19.61 and a one year high of $31.42. The stock’s fifty day moving average is $28.80 and its 200-day moving average is $26.90. The company has a market capitalization of $9.31 billion, a PE ratio of 13.78 and a beta of 0.61.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, January 22nd. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.10. The business had revenue of $715.00 million during the quarter, compared to analysts’ expectations of $693.23 million. Columbia Banking System had a return on equity of 11.40% and a net margin of 17.11%.During the same quarter last year, the business posted $0.71 earnings per share. On average, equities research analysts forecast that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Friday, November 28th. This is an increase from Columbia Banking System’s previous quarterly dividend of $0.36. Columbia Banking System’s payout ratio is presently 65.49%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on COLB shares. Keefe, Bruyette & Woods raised their target price on shares of Columbia Banking System from $31.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Wall Street Zen raised Columbia Banking System to a “hold” rating in a research note on Saturday, December 27th. TD Cowen restated a “hold” rating on shares of Columbia Banking System in a report on Wednesday, January 7th. Barclays upped their target price on Columbia Banking System from $29.00 to $30.00 and gave the company an “equal weight” rating in a report on Friday, December 19th. Finally, Royal Bank Of Canada increased their price target on Columbia Banking System from $30.00 to $32.00 and gave the company a “sector perform” rating in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $31.88.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of COLB. First Eagle Investment Management LLC raised its position in Columbia Banking System by 241.3% during the fourth quarter. First Eagle Investment Management LLC now owns 136,500 shares of the financial services provider’s stock valued at $3,815,000 after buying an additional 96,500 shares during the period. International Assets Investment Management LLC purchased a new position in Columbia Banking System during the 4th quarter valued at about $1,069,000. Sequoia Financial Advisors LLC increased its holdings in shares of Columbia Banking System by 63.0% in the 4th quarter. Sequoia Financial Advisors LLC now owns 23,099 shares of the financial services provider’s stock valued at $646,000 after purchasing an additional 8,929 shares during the period. Highland Capital Management LLC lifted its position in shares of Columbia Banking System by 2.9% in the fourth quarter. Highland Capital Management LLC now owns 178,344 shares of the financial services provider’s stock worth $4,985,000 after purchasing an additional 5,041 shares in the last quarter. Finally, Horizon Investments LLC lifted its position in shares of Columbia Banking System by 168.8% in the fourth quarter. Horizon Investments LLC now owns 1,231 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 773 shares in the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

About Columbia Banking System

Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.

The company’s offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.