Columbia Banking System, Inc. (NASDAQ:COLB – Get a rating) stocks saw unusually high trading volume on Friday . Around 137,365 shares were traded at midday, down 84% from the previous session’s volume of 867,368 shares.
Several research analysts have recently weighed in on COLB shares. Royal Bank of Canada raised its target price on shares of Columbia Banking System from $35.00 to $36.00 and gave the company an ‘industry performance’ rating in a Friday, April 22 research note . StockNews.com began covering Columbia Banking System shares in a research note on Thursday, March 31. They issued a “holding” rating for the company. Piper Sandler lowered her price target on shares of Columbia Banking System from $35.00 to $31.00 in a Monday, May 2 research note. Finally, Raymond James cut his price target on Columbia Banking System shares from $40.00 to $38.00 and set an “outperform” rating for the company in a Friday, April 22 research note. Four analysts gave the stock a hold rating and two gave the company a buy rating. According to data from MarketBeat, Columbia Banking System has an average rating of “Hold” and a consensus price target of $35.60.
The stock has a market capitalization of $2.35 billion, a P/E ratio of 10.65 and a beta of 0.68. The stock’s 50-day simple moving average is $29.09 and its 200-day simple moving average is $32.27.
Colombian banking system (NASDAQ:COLB – Get a rating) last released its quarterly earnings data on Thursday, April 21. The financial services provider reported EPS of $0.81 for the quarter, beating consensus analyst estimates of $0.66 by $0.15. Columbia Banking System had a net margin of 31.91% and a return on equity of 9.30%. The company posted revenue of $170.38 million for the quarter, versus a consensus estimate of $166.09 million. During the same period a year earlier, the company posted EPS of $0.73. The company’s revenue increased by 15.8% compared to the same quarter last year. Stock analysts expect Columbia Banking System, Inc. to post earnings per share of 2.61 for the current fiscal 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 a dividend of $1.20 on an annualized basis and a yield of 4.02%. Columbia Banking System’s dividend payout ratio (DPR) is 42.86%.
In other Columbia Banking System news, Director Craig D. Eerkes purchased 1,694 Columbia Banking System shares in a trade dated 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 administrator now owns 20,227 shares of the company, valued at approximately $576,874.04. The transaction was disclosed in an SEC filing, available at the SEC website. Also, CFO Aaron James Cerf purchased 3,000 shares of Columbia Banking System in a trade dated Monday, May 2. The shares were acquired 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 owns 15,427 shares of the company, valued at approximately $431,956. Disclosure of this purchase can be found here. Insiders acquired a total of 5,713 shares of the company worth $158,593 during the last quarter. 0.62% of the shares are currently held by insiders.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its equity stake in Columbia Banking System by 1.0% in Q1. BlackRock Inc. now owns 11,571,436 shares of the financial services provider worth $373,410,000 after acquiring an additional 115,087 shares during the period. Vanguard Group Inc. increased its equity stake in Columbia Banking System by 2.0% in Q1. Vanguard Group Inc. now owns 9,088,462 shares of the financial services provider worth $293,285,000 after acquiring an additional 180,175 shares during the period. State Street Corp increased its equity stake in Columbia Banking System by 17.2% in Q1. State Street Corp now owns 5,810,585 shares of the financial services provider worth $187,508,000 after acquiring an additional 853,211 shares during the period. Dimensional Fund Advisors LP increased its holdings of Columbia Banking System shares by 8.6% in Q1. Dimensional Fund Advisors LP now owns 3,636,756 shares of the financial services provider worth $117,361,000 after acquiring an additional 288,103 shares during the period. Finally, Westwood Holdings Group Inc. increased its stake in shares of Columbia Banking System by 45.8% in the 4th quarter. Westwood Holdings Group Inc. now owns 2,009,137 shares of the financial services provider worth $65,739,000 after acquiring an additional 631,265 shares during the period. Institutional investors hold 94.44% of the company’s shares.
Columbia Banking System Company Profile (NASDAQ:COLB)
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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