Stocks of Columbia Banking System, Inc. (NASDAQ: COLB – Get a rating) have earned an average rating of “Hold” from the seven rating agencies that currently cover the company, reports MarketBeat Ratings. Four analysts rated the stock with a hold recommendation and two gave the company a buy recommendation. The 1-year average price target among brokerages that have covered the stock over the past year is $34.80.
Several research analysts have recently commented on COLB’s actions. Royal Bank of Canada raised its price target on Columbia Banking System shares from $35.00 to $36.00 and gave the company an “industry performance” rating in a Friday, April 22 report. Piper Sandler cut her price target on Columbia Banking System stock from $35.00 to $31.00 in a Monday, May 2 report. Finally, Raymond James lowered his price target on Columbia Banking System shares from $38.00 to $34.00 and set an “outperform” rating for the company in a Thursday, July 7 report.
Insider Activity at Columbia Banking System
Separately, director Craig D. Eerkes bought 1,694 shares of the company in a trade 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 transaction, the director now owns 20,227 shares of the company, valued at $576,874.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC website. Separately, director Craig D. Eerkes bought 1,694 shares of the company in a trade 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 transaction, the director now owns 20,227 shares of the company, valued at $576,874.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC website. Also, CFO Aaron James Cerf bought 3,000 shares of the company in a trade on Monday, May 2. The shares were purchased at an average price of $28.00 per share, for a total transaction of $84,000.00. Following the completion of the transaction, the CFO now directly owns 15,427 shares of the company, valued at approximately $431,956. Disclosure of this purchase can be found here. Insiders purchased a total of 5,713 shares of the company worth $158,593 over the past ninety days. 0.62% of the shares are held by insiders.
Columbia Banking Institutional Trading
A number of hedge funds and other institutional investors have recently changed their positions in the company. The New York State Teachers Retirement System increased its position in Columbia Banking System shares by 0.5% in the fourth quarter. The New York State Teachers’ Retirement System now owns 123,692 shares of the financial services provider worth $4,047,000 after acquiring an additional 600 shares in the last quarter. Brown Advisory Inc. bought a new position in Columbia Banking System during the fourth quarter worth approximately $244,000. Allspring Global Investments Holdings LLC bought a new position in Columbia Banking System during the fourth quarter, valued at approximately $811,000. Commonwealth Equity Services LLC increased its position in Columbia Banking System by 24.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 23,737 shares of the financial services provider valued at $776,000 after buying an additional 4,628 shares last quarter. Finally, New Jersey State Joint Pension Fund D purchased a new position in Columbia Banking System during the fourth quarter, valued at approximately $2,700,000. 94.44% of the shares are currently held by institutional investors.
Columbia Banking System Price Performance
Shares of COLB opened at $30.17 on Friday. The company has a market capitalization of $2.37 billion, a P/E ratio of 10.85 and a beta of 0.67. Columbia Banking System has a 1-year minimum of $26.97 and a 1-year maximum of $40.78. The company has a fifty-day moving average of $29.23 and a two-hundred-day moving average of $31.76.
Colombia Banking System (NASDAQ:COLB – Get a rating) last reported quarterly earnings data on Thursday, July 21. The financial services provider reported earnings per share 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%. In the same quarter last year, the company achieved EPS of $0.77. On average, sell-side analysts expect Columbia Banking System to post 2.72 EPS for the current year.
Columbia Banking System Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 17. Investors of record on Wednesday, August 3 will receive a dividend of $0.30. The ex-dividend date is Tuesday, August 2. This represents an annualized dividend of $1.20 and a yield of 3.98%. Columbia Banking System’s dividend payout ratio is currently 43.17%.
About the Columbia Banking System
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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