Stocks of Columbia Banking System, Inc. (NASDAQ:COLB – Get a rating) earned an average rating of “Hold” from the seven brokerages that cover the stock, Marketbeat.com reports. Four research analysts rated the stock with a Hold recommendation and two gave the company a Buy recommendation. The 12-month average target price among brokers who updated their coverage on the stock in the past year is $34.80.
Several research companies have weighed in on COLB. Raymond James lowered its price target on Columbia Banking System from $38.00 to $34.00 and set an “outperform” rating on the stock in a Thursday, July 7 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 research report. Finally, Piper Sandler reduced her price target on Columbia Banking System from $35.00 to $31.00 in a Monday, May 2 research report.
Insider Trading at Columbia Banking System
Separately, director Craig D. Eerkes purchased 1,694 shares of the company in a transaction that took place on Friday, June 10. The shares were purchased at an average cost of $28.52 per share, for a total transaction of $48,312.88. Following the completion of the transaction, the director now owns 20,227 shares of the company, valued at $576,874.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. Separately, director Craig D. Eerkes acquired 1,694 shares of the company in a transaction on Friday, June 10. The shares were acquired at an average cost of $28.52 per share, for a total transaction of $48,312.88. Following completion of the transaction, the administrator now directly owns 20,227 shares of the company, valued at approximately $576,874.04. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. Also, CFO Aaron James Cerf acquired 3,000 shares of the company in a transaction that took place on Monday, May 2. The shares were purchased at an average cost of $28.00 per share, for a total transaction of $84,000.00. Following the purchase, the CFO now owns 15,427 shares of the company, valued at $431,956. Disclosure of this purchase can be found here. Insiders acquired a total of 5,713 shares of the company worth $158,593 over the past 90 days. Insiders of the company hold 0.62% of the shares of the company.
Institutional investors weigh on Columbia’s banking system
A number of institutional investors have recently changed their stake in the company. Earnest Partners LLC acquired a new stake in Columbia Banking System in Q4 worth approximately $27,000. Covestor Ltd bought a new position in Columbia Banking System in Q4 worth around $28,000. Meeder Asset Management Inc. bought a new position in Columbia Banking System in Q1 worth approximately $41,000. Pinebridge Investments LP bought a new position in Columbia Banking System in Q4 worth approximately $69,000. Finally, Asset Management One Co. Ltd. bought a new position in Columbia Banking System in Q2 worth about $70,000. 94.44% of the shares are currently held by institutional investors and hedge funds.
Columbia banking system stock up 0.9%
Shares of NASDAQ:COLB opened at $30.17 on Friday. Columbia Banking System has a 12-month low of $26.97 and a 12-month high of $40.78. The stock’s 50-day moving average is $29.23 and its 200-day moving average is $31.76. The company has a market capitalization of $2.37 billion, a price-earnings ratio of 10.85 and a beta of 0.67.
Colombian banking system (NASDAQ:COLB – Get a rating) last announced its quarterly results on Thursday, July 21. The financial services provider reported earnings per share (EPS) of $0.75 for the quarter, missing the consensus estimate of $0.77 per ($0.02). Columbia Banking System had a return on equity of 9.68% and a net margin of 31.28%. During the same period of the previous year, the company posted EPS of $0.77. Equity research analysts expect Columbia Banking System to post earnings per share of 2.72 for the current fiscal year.
Columbia Banking System Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 17. Shareholders of record on Wednesday, August 3 will receive a dividend of $0.30 per share. This represents an annualized dividend of $1.20 and a yield of 3.98%. The ex-dividend date is Tuesday, August 2. Columbia Banking System’s dividend payout ratio is currently 43.17%.
Columbia Banking System Company Profile
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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