Columbia Banking System (NASDAQ:COLB) VP Torran Nixon Sells 2,240 Shares of Stock

Columbia Banking System, Inc. (NASDAQ:COLB) VP Torran Nixon sold 2,240 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $28.85, for a total transaction of $64,624.00. Following the completion of the transaction, the vice president owned 98,229 shares of the company’s stock, valued at $2,833,906.65. This trade represents a 2.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Columbia Banking System Stock Performance

COLB traded down $0.93 during mid-day trading on Friday, reaching $27.07. The stock had a trading volume of 1,116,355 shares, compared to its average volume of 2,875,423. The firm’s fifty day simple moving average is $29.66 and its two-hundred day simple moving average is $27.79. The stock has a market capitalization of $8.00 billion, a P/E ratio of 11.98 and a beta of 0.60. Columbia Banking System, Inc. has a 52 week low of $19.61 and a 52 week high of $32.70.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.10. The business had revenue of $715.00 million for the quarter, compared to analyst estimates 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 in the prior year, the firm posted $0.71 earnings per share. As a group, analysts expect that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, February 27th. This represents a $1.48 annualized dividend and a dividend yield of 5.5%. 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. Citigroup raised their price objective on shares of Columbia Banking System from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Stephens raised their price target on Columbia Banking System from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. 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 research note on Wednesday, December 17th. UBS Group reissued a “neutral” rating and issued a $33.00 target price on shares of Columbia Banking System in a research note on Wednesday, February 4th. Finally, JPMorgan Chase & Co. boosted their target price on Columbia Banking System from $31.00 to $33.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $32.04.

Hedge Funds Weigh In On Columbia Banking System

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Columbia Banking System by 41.3% during the 3rd quarter. Vanguard Group Inc. now owns 29,851,392 shares of the financial services provider’s stock worth $768,375,000 after purchasing an additional 8,730,937 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Columbia Banking System by 31.4% in 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 buying an additional 4,324,006 shares during the period. State Street Corp increased its position in shares of 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 acquiring an additional 3,290,560 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of 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 acquiring an additional 5,313,883 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Columbia Banking System by 1.3% during 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 acquiring an additional 163,543 shares during the period. 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.