Columbia Banking System, Inc. (NASDAQ:COLB – Get Free Report) EVP Aaron James Deer acquired 886 shares of the stock in a transaction dated Tuesday, June 30th. The shares were bought at an average price of $25.37 per share, with a total value of $22,477.82. Following the completion of the transaction, the executive vice president directly owned 42,761 shares of the company’s stock, valued at $1,084,846.57. The trade was a 2.12% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Columbia Banking System Price Performance
Columbia Banking System stock opened at $31.72 on Friday. The stock’s 50 day moving average is $30.07 and its 200 day moving average is $29.29. Columbia Banking System, Inc. has a one year low of $22.77 and a one year high of $32.77. The firm has a market cap of $9.18 billion, a P/E ratio of 12.64 and a beta of 0.62.
Columbia Banking System (NASDAQ:COLB – Get Free Report) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Columbia Banking System had a net margin of 19.28% and a return on equity of 11.41%. The business had revenue of $675.00 million during the quarter, compared to the consensus estimate of $677.34 million. During the same quarter in the prior year, the firm posted $0.67 EPS. The company’s revenue for the quarter was up 37.9% compared to the same quarter last year. Equities analysts anticipate that Columbia Banking System, Inc. will post 3.08 earnings per share for the current fiscal year.
Columbia Banking System Announces Dividend
Analyst Ratings Changes
COLB has been the topic of several recent analyst reports. Barclays dropped their target price on shares of Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 7th. JPMorgan Chase & Co. lifted their price objective on Columbia Banking System from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday. Wall Street Zen downgraded Columbia Banking System from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. UBS Group initiated coverage on Columbia Banking System in a research report on Tuesday, April 7th. They set a “neutral” rating and a $30.00 target price on the stock. Finally, Fundamental Research set a $35.00 target price on Columbia Banking System in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $32.65.
Check Out Our Latest Stock Report on COLB
Hedge Funds Weigh In On Columbia Banking System
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP grew its stake in Columbia Banking System by 135.2% in the third quarter. Wellington Management Group LLP now owns 13,782,222 shares of the financial services provider’s stock valued at $354,754,000 after acquiring an additional 7,921,303 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Columbia Banking System by 68.1% in the 3rd 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 last quarter. Price T Rowe Associates Inc. MD lifted its position in Columbia Banking System by 140.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,666,769 shares of the financial services provider’s stock valued at $242,237,000 after acquiring an additional 5,063,212 shares in the last quarter. Norges Bank bought a new position in Columbia Banking System in the 4th quarter valued at about $103,012,000. Finally, North Reef Capital Management LP boosted its stake in Columbia Banking System by 3,600.0% during the 4th quarter. North Reef Capital Management LP now owns 3,700,000 shares of the financial services provider’s stock valued at $103,415,000 after purchasing an additional 3,600,000 shares during the last quarter. Institutional investors own 92.53% of the company’s stock.
About Columbia Banking System
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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