Columbia Banking System, Inc. (NASDAQ:COLB – Get a rating) Director Craig D. Eerkes acquired 1,694 shares of the company in a transaction dated Friday, June 10. The stock was purchased at an average price of $28.52 per share, with a total value of $48,312.88. Following the acquisition, the director now directly owns 20,227 shares of the company, valued at $576,874.04. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, available at the SEC website.
COLB Stock traded down $0.49 in midday trading on Monday, hitting $27.90. 875,299 shares of the company were traded, against an average volume of 868,812. The company has a 50-day simple moving average of $29.77 and a 200-day simple moving average of $32.76. The stock has a market capitalization of $2.19 billion, a PE ratio of 10.14 and a beta of 0.68. Columbia Banking System, Inc. has a 1-year low of $27.61 and a 1-year high of $42.39.
Colombian banking system (NASDAQ:COLB – Get a rating) last released its quarterly earnings data on Thursday, April 21. The financial services provider reported earnings per share (EPS) of $0.81 for the quarter, beating the consensus estimate of $0.66 by $0.15. The company posted revenue of $170.38 million in the quarter, versus a consensus estimate of $166.09 million. Columbia Banking System had a net margin of 31.91% and a return on equity of 9.30%. The company’s revenue for the quarter increased by 15.8% compared to the same quarter last year. During the same period last year, the company posted earnings per share of $0.73. Sell-side analysts expect Columbia Banking System, Inc. to post earnings per share of 2.61 for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 18. Shareholders of record on Wednesday, May 4 received a dividend of $0.30 per share. The ex-dividend date was Tuesday, May 3. This represents an annualized dividend of $1.20 and a yield of 4.30%. Columbia Banking System’s dividend payout ratio (DPR) is currently 42.86%.
Hedge funds have recently changed their stakes in the company. Bank of America Corp DE increased its position in shares of Columbia Banking System by 28.5% in the first quarter. Bank of America Corp DE now owns 425,972 shares of the financial services provider valued at $13,747,000 after buying an additional 94,497 shares last quarter. Walleye Capital LLC acquired a new stake in shares of Columbia Banking System in the first quarter worth approximately $398,000. Keeley Teton Advisors LLC raised its position in Columbia Banking System shares by 21.6% in the first quarter. Keeley Teton Advisors LLC now owns 151,612 shares of the financial services provider valued at $4,893,000 after buying an additional 26,926 shares last quarter. Weiss Multi Strategy Advisers LLC acquired a new stake in shares of Columbia Banking System in the first quarter worth approximately $5,324,000. Finally, Mirabella Financial Services LLP acquired a new equity stake in Columbia Banking System in the first quarter valued at approximately $1,429,000. Hedge funds and other institutional investors hold 94.44% of the company’s shares.
Several brokerages have recently weighed in on COLB. Raymond James cut his price target on Columbia Banking System from $40.00 to $38.00 and set an “outperform” rating for the company in a Friday, April 22 report. Piper Sandler cut its price target on Columbia Banking System from $35.00 to $31.00 in a Monday, May 2 report. Royal Bank of Canada raised its price target on Columbia Banking System from $35.00 to $36.00 and gave the stock an “sector performance” rating in a Friday, April 22 report. To finish, StockNews.com launched a coverage on Columbia Banking System in a Thursday, March 31 report. They set a “holding” rating for the company. Four equity research analysts gave the stock a hold rating and two gave the company a buy rating. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $35.60.
Columbia Banking System Company Profile (Get a rating)
Columbia Banking System, Inc operates as a bank holding company for Columbia State Bank which provides a range of banking services to small and medium businesses, professionals and individuals in the United States. It offers personal banking products and services, including interest-free and interest-bearing checks, savings accounts, money market and certificates of deposit; home mortgages for purchases and refinances, home equity loans and lines of credit and other personal loans; debit and credit cards; and digital banking.
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