Columbia Banking System, Inc. (NASDAQ:COLB - Get Free Report) VP Torran B. Nixon sold 4,481 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $25.99, for a total transaction of $116,461.19. Following the completion of the transaction, the vice president now owns 104,869 shares of the company's stock, valued at approximately $2,725,545.31. The trade was a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Columbia Banking System Stock Performance
COLB stock traded up $0.07 during trading on Friday, hitting $25.04. 1,550,714 shares of the company's stock traded hands, compared to its average volume of 1,441,850. Columbia Banking System, Inc. has a 52 week low of $17.08 and a 52 week high of $32.85. The business has a fifty day simple moving average of $27.31 and a 200 day simple moving average of $27.46. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of 9.86 and a beta of 0.62.
Columbia Banking System (NASDAQ:COLB - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.65 by $0.06. Columbia Banking System had a net margin of 17.99% and a return on equity of 11.21%. Research analysts forecast that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.
Columbia Banking System Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.75%. The ex-dividend date of this dividend is Friday, February 28th. Columbia Banking System's dividend payout ratio is currently 56.69%.
Analysts Set New Price Targets
A number of brokerages recently weighed in on COLB. Barclays upped their target price on shares of Columbia Banking System from $29.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 5th. Stephens dropped their target price on shares of Columbia Banking System from $33.00 to $31.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods dropped their target price on shares of Columbia Banking System from $34.00 to $33.00 and set a "market perform" rating for the company in a research report on Friday, January 24th. JPMorgan Chase & Co. dropped their target price on shares of Columbia Banking System from $32.00 to $30.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Finally, UBS Group began coverage on shares of Columbia Banking System in a research report on Tuesday, December 17th. They set a "neutral" rating and a $32.00 target price for the company. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Columbia Banking System presently has a consensus rating of "Hold" and an average price target of $30.38.
Check Out Our Latest Stock Report on Columbia Banking System
Institutional Investors Weigh In On Columbia Banking System
Hedge funds and other institutional investors have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of Columbia Banking System in the fourth quarter valued at $29,000. SBI Securities Co. Ltd. purchased a new stake in shares of Columbia Banking System in the fourth quarter valued at $32,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Columbia Banking System in the fourth quarter valued at $42,000. Meeder Asset Management Inc. purchased a new stake in shares of Columbia Banking System in the fourth quarter valued at $42,000. Finally, Smartleaf Asset Management LLC raised its stake in shares of Columbia Banking System by 62.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,038 shares of the financial services provider's stock valued at $55,000 after acquiring an additional 780 shares during the period. Hedge funds and other institutional investors own 92.53% of the company's stock.
About Columbia Banking System
(
Get Free Report)
Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.
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