Columbia Banking System (NASDAQ:COLB) CMO Devine David Moore Sells 3,872 Shares of Stock

Columbia Banking System, Inc. (NASDAQ:COLB) CMO Devine David Moore sold 3,872 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $29.77, for a total value of $115,269.44. Following the completion of the sale, the chief marketing officer directly owned 18,636 shares of the company’s stock, valued at $554,793.72. The trade was a 17.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Columbia Banking System Price Performance

Shares of Columbia Banking System stock opened at $30.32 on Thursday. Columbia Banking System, Inc. has a 1 year low of $21.91 and a 1 year high of $32.70. The firm has a market cap of $8.78 billion, a PE ratio of 12.08 and a beta of 0.63. The stock has a fifty day moving average price of $29.22 and a 200-day moving average price of $28.95.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.04. Columbia Banking System had a return on equity of 11.41% and a net margin of 19.28%.The firm had revenue of $675.00 million during the quarter, compared to analyst estimates of $677.34 million. During the same period last year, the firm posted $0.67 EPS. The business’s revenue was up 37.9% compared to the same quarter last year. As a group, equities analysts anticipate that Columbia Banking System, Inc. will post 3.08 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.48 annualized dividend and a dividend yield of 4.9%. Columbia Banking System’s dividend payout ratio (DPR) is currently 58.96%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on COLB shares. JPMorgan Chase & Co. decreased their target price on Columbia Banking System from $34.00 to $31.00 and set a “neutral” rating for the company in a research report on Wednesday, April 1st. Barclays decreased their target price on Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 7th. Wells Fargo & Company raised their target price on Columbia Banking System from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, March 30th. Piper Sandler raised their target price on Columbia Banking System from $34.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Finally, Weiss Ratings raised Columbia Banking System from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $32.13.

Institutional Trading of Columbia Banking System

Several institutional investors and hedge funds have recently modified their holdings of the business. Henshaw Capital LLC boosted its position in shares of Columbia Banking System by 1.4% during the 1st quarter. Henshaw Capital LLC now owns 34,805 shares of the financial services provider’s stock valued at $955,000 after acquiring an additional 477 shares during the last quarter. Carlson Capital L.P. bought a new stake in shares of Columbia Banking System during the 1st quarter valued at about $1,824,000. Glenmede Trust Co. NA boosted its position in shares of Columbia Banking System by 6.3% during the 1st quarter. Glenmede Trust Co. NA now owns 80,393 shares of the financial services provider’s stock valued at $2,205,000 after acquiring an additional 4,735 shares during the last quarter. Access Investment Management LLC bought a new stake in shares of Columbia Banking System during the 1st quarter valued at about $2,079,000. Finally, Arete Wealth Advisors LLC bought a new stake in shares of Columbia Banking System during the 1st quarter valued at about $396,000. 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.