Columbia Banking System (NASDAQ:COLB) EVP Sells 937 Shares

Columbia Banking System, Inc. (NASDAQ:COLB) EVP Kumi Yamamoto Baruffi sold 937 shares of Columbia Banking System stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $26.23, for a total value of $24,577.51. Following the completion of the transaction, the executive vice president owned 53,715 shares in the company, valued at approximately $1,408,944.45. This represents a 1.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Columbia Banking System Stock Up 0.5%

Shares of Columbia Banking System stock traded up $0.12 on Tuesday, hitting $26.47. The stock had a trading volume of 2,622,550 shares, compared to its average volume of 2,981,277. Columbia Banking System, Inc. has a one year low of $19.61 and a one year high of $32.70. The stock’s 50-day simple moving average is $29.38 and its two-hundred day simple moving average is $27.82. The stock has a market cap of $7.82 billion, a price-to-earnings ratio of 11.71 and a beta of 0.60.

Columbia Banking System (NASDAQ:COLB) last released its quarterly 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. Columbia Banking System had a net margin of 17.11% and a return on equity of 11.40%. The business had revenue of $715.00 million for the quarter, compared to analysts’ expectations of $693.23 million. During the same quarter in the previous year, the business posted $0.71 earnings per share. As a group, equities analysts predict that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 27th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 5.6%. The ex-dividend date was Friday, February 27th. Columbia Banking System’s dividend payout ratio (DPR) is presently 65.49%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Weiss Ratings upgraded shares of Columbia Banking System from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Barclays lifted their target price on shares of Columbia Banking System from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday, December 19th. DA Davidson increased their price target on Columbia Banking System from $30.00 to $32.50 and gave the company a “neutral” rating in a report on Friday, January 23rd. TD Cowen restated a “hold” rating on shares of Columbia Banking System in a research note on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods lifted their price objective on Columbia Banking System from $31.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $32.04.

Hedge Funds Weigh In On Columbia Banking System

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Columbia Banking System by 41.3% in the 3rd quarter. Vanguard Group Inc. now owns 29,851,392 shares of the financial services provider’s stock valued at $768,375,000 after purchasing an additional 8,730,937 shares during the last quarter. Wellington Management Group LLP boosted its stake in Columbia Banking System by 135.2% in the 3rd quarter. Wellington Management Group LLP now owns 13,782,222 shares of the financial services provider’s stock worth $354,754,000 after purchasing an additional 7,921,303 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Columbia Banking System by 68.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 13,116,339 shares of the financial services provider’s stock worth $337,611,000 after purchasing an additional 5,313,883 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Columbia Banking System by 140.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,666,769 shares of the financial services provider’s stock valued at $242,237,000 after purchasing an additional 5,063,212 shares in the last quarter. Finally, HoldCo Asset Management LP acquired a new position in Columbia Banking System during the 2nd quarter valued at approximately $104,819,000. Institutional investors and hedge funds own 92.53% of the company’s stock.

Columbia Banking System Company Profile

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.