Kumi Yamamoto Baruffi Sells 937 Shares of Columbia Banking System (NASDAQ:COLB) Stock

Columbia Banking System, Inc. (NASDAQ:COLB) EVP Kumi Yamamoto Baruffi sold 937 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $26.23, for a total transaction of $24,577.51. Following the transaction, the executive vice president owned 53,715 shares in the company, valued at approximately $1,408,944.45. The trade was a 1.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Columbia Banking System Price Performance

Shares of NASDAQ COLB opened at $26.20 on Thursday. The stock has a market capitalization of $7.74 billion, a P/E ratio of 11.59 and a beta of 0.60. The company has a 50-day moving average price of $29.33 and a 200-day moving average price of $27.81. Columbia Banking System, Inc. has a 1 year low of $19.61 and a 1 year high of $32.70.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, January 22nd. The financial services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $715.00 million for the quarter, compared to analyst estimates of $693.23 million. During the same quarter in the prior year, the business posted $0.71 EPS. As a group, equities research analysts anticipate that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend was Friday, February 27th. Columbia Banking System’s payout ratio is currently 65.49%.

Analyst Ratings Changes

COLB has been the topic of a number of recent research reports. DA Davidson raised their target price on Columbia Banking System from $30.00 to $32.50 and gave the company a “neutral” rating in a report on Friday, January 23rd. Piper Sandler increased their price target on Columbia Banking System from $34.50 to $36.00 and gave the company an “overweight” rating in a research report on Monday, January 26th. TD Cowen restated a “hold” rating on shares of Columbia Banking System in a research note on Wednesday, January 7th. UBS Group reaffirmed a “neutral” rating and set a $33.00 price objective on shares of Columbia Banking System in a report on Wednesday, February 4th. Finally, Citigroup upped their target price on shares of Columbia Banking System from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Columbia Banking System has a consensus rating of “Hold” and a consensus price target of $32.04.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in COLB. Vanguard Group Inc. raised its stake in 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 acquiring an additional 8,730,937 shares during the period. Wellington Management Group LLP lifted its holdings in Columbia Banking System by 31.4% during the fourth quarter. Wellington Management Group LLP now owns 18,106,228 shares of the financial services provider’s stock valued at $506,069,000 after purchasing an additional 4,324,006 shares during the last quarter. State Street Corp boosted its position in Columbia Banking System by 32.5% during the third quarter. State Street Corp now owns 13,407,671 shares of the financial services provider’s stock worth $345,113,000 after purchasing an additional 3,290,560 shares during the period. Dimensional Fund Advisors LP boosted its position in Columbia Banking System by 68.1% during the third 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 period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Columbia Banking System by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,564,529 shares of the financial services provider’s stock worth $351,179,000 after purchasing an additional 163,543 shares in the last quarter. Institutional investors 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.