Insider Buying: Columbia Banking System (NASDAQ:COLB) EVP Acquires $22,477.82 in Stock

by · The Markets Daily

Columbia Banking System, Inc. (NASDAQ:COLB – Get Free Report) EVP Aaron James Deer purchased 886 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was acquired at an average cost of $25.37 per share, for a total transaction of $22,477.82. Following the completion of the transaction, the executive vice president owned 42,761 shares in the company, valued at approximately $1,084,846.57. This trade represents a 2.12% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

Columbia Banking System Stock Performance

Shares of COLB traded down $0.79 during mid-day trading on Thursday, hitting $31.72. The company’s stock had a trading volume of 3,396,916 shares, compared to its average volume of 2,907,751. The stock’s 50-day moving average is $30.02 and its two-hundred day moving average is $29.28. The firm has a market capitalization of $9.18 billion, a PE ratio of 12.64 and a beta of 0.62. Columbia Banking System, Inc. has a one year low of $22.77 and a one year high of $32.77.

Columbia Banking System (NASDAQ:COLB – Get Free Report) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. The firm had revenue of $675.00 million during the quarter, compared to analysts’ expectations of $677.34 million. Columbia Banking System had a net margin of 19.28% and a return on equity of 11.41%. The business’s quarterly revenue was up 37.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.67 EPS. Analysts expect that Columbia Banking System, Inc. will post 3.08 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a dividend of $0.37 per share. The ex-dividend date of this dividend 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%.

Analyst Upgrades and Downgrades

COLB has been the topic of several research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Columbia Banking System in a research note on Monday. Fundamental Research set a $35.00 price objective on Columbia Banking System in a research report on Wednesday. Barclays cut 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 note on Tuesday, April 7th. JPMorgan Chase & Co. lifted 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, UBS Group assumed coverage on shares of Columbia Banking System in a report on Tuesday, April 7th. They issued a “neutral” rating and a $30.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $32.65.

View Our Latest Analysis on COLB

Hedge Funds Weigh In On Columbia Banking System

A number of hedge funds have recently modified their holdings of the stock. Cedar Mountain Advisors LLC lifted its position in shares of Columbia Banking System by 571.7% during the first 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 in the last quarter. Geneos Wealth Management Inc. raised its position in Columbia Banking System by 194.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 794 shares during the last quarter. Horizon Investments LLC lifted its holdings in 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 buying an additional 773 shares in the last quarter. Rossby Financial LCC acquired a new position in Columbia Banking System during the 4th quarter worth $36,000. Finally, Atlas Capital Advisors Inc. bought a new position in Columbia Banking System in the 4th quarter valued at $43,000. 92.53% of the stock is owned by institutional investors and hedge funds.

Columbia Banking System Company Profile

(Get Free Report)

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.

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