Aaron James Deer Acquires 886 Shares of Columbia Banking System (NASDAQ:COLB) Stock

Columbia Banking System, Inc. (NASDAQ:COLB) EVP Aaron James Deer bought 886 shares of Columbia Banking System stock in a transaction dated Tuesday, June 30th. The stock was acquired at an average price of $25.37 per share, with a total value of $22,477.82. Following the acquisition, the executive vice president directly owned 42,761 shares of the company’s stock, valued at approximately $1,084,846.57. This represents a 2.12% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Columbia Banking System Stock Performance

Shares of COLB stock opened at $31.72 on Friday. The company has a market capitalization of $9.18 billion, a price-to-earnings ratio of 12.64 and a beta of 0.62. Columbia Banking System, Inc. has a 1-year low of $22.77 and a 1-year high of $32.77. The stock’s fifty day simple moving average is $30.13 and its 200-day simple moving average is $29.31.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $677.34 million. During the same period in the prior year, the business earned $0.67 EPS. The business’s revenue for the quarter was up 37.9% on a year-over-year basis. On average, sell-side analysts predict that Columbia Banking System, Inc. will post 3.08 EPS for the current year.

Columbia Banking System Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were issued a $0.37 dividend. The ex-dividend date was Friday, May 29th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.7%. Columbia Banking System’s dividend payout ratio is currently 58.96%.

Hedge Funds Weigh In On Columbia Banking System

Hedge funds have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its stake in Columbia Banking System by 194.6% in the first quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 794 shares during the last quarter. Cedar Mountain Advisors LLC increased its stake in shares of Columbia Banking System by 571.7% during the 1st quarter. Cedar Mountain Advisors LLC now owns 1,115 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 949 shares during the last quarter. Horizon Investments LLC increased its stake in shares of Columbia Banking System by 168.8% during the 4th 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 during the last quarter. Rossby Financial LCC bought a new position in shares of Columbia Banking System during the 4th quarter valued at $36,000. Finally, Hilton Head Capital Partners LLC bought a new position in shares of Columbia Banking System during the 4th quarter valued at $43,000. Institutional investors and hedge funds own 92.53% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on COLB. UBS Group initiated coverage on shares of Columbia Banking System in a research report on Tuesday, April 7th. They issued a “neutral” rating and a $30.00 target price for the company. Weiss Ratings restated a “buy (b-)” rating on shares of Columbia Banking System in a report on Monday. Wells Fargo & Company boosted their price target on shares of Columbia Banking System from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Monday, March 30th. JPMorgan Chase & Co. upped their price target on shares of Columbia Banking System from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Wall Street Zen lowered Columbia Banking System from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Columbia Banking System presently has an average rating of “Hold” and a consensus price target of $32.65.

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.