Columbia Banking System, Inc. (NASDAQ:COLB – Get a rating) 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, with a total value of $48,312.88. Following the acquisition, the administrator now owns 20,227 shares of the company, valued at $576,874.04. The purchase was disclosed in a legal filing with the SEC, available at this link.
The NASDAQ COLB traded down $0.49 during Monday trading hours, hitting $27.90. 875,299 shares of the company were traded, against an average volume of 868,812. 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 one-year low of $27.61 and a one-year high of $42.39. The company has a fifty-day moving average of $29.77 and a 200-day moving average of $32.76.
Colombia Banking System (NASDAQ:COLB – Get a rating) last released its quarterly results on Thursday, April 21. The financial services provider reported EPS of $0.81 for the quarter, beating analyst consensus estimates of $0.66 by $0.15. The company posted revenue of $170.38 million for the quarter, versus analyst estimates of $166.09 million. Columbia Banking System had a return on equity of 9.30% and a net margin of 31.91%. Columbia Banking System’s revenue for the quarter increased 15.8% year over year. During the same period of the previous year, the company achieved EPS of $0.73. On average, stock analysts expect Columbia Banking System, Inc. to post earnings per share of 2.61 for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 18. Investors 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 4.30%. Columbia Banking System’s dividend payout ratio (DPR) is currently 42.86%.
Several research companies have recently weighed in on COLB. Royal Bank of Canada raised its price target on Columbia Banking System from $35.00 to $36.00 and gave the company an “industry performance” rating in a Friday, April 22 research note. Piper Sandler lowered her price target on Columbia Banking System from $35.00 to $31.00 in a Monday, May 2 research note. StockNews.com began covering Columbia Banking System in a research note on Thursday, March 31. They issued a “hold” rating on the stock. Finally, Raymond James lowered his price target on Columbia Banking System from $40.00 to $38.00 and set an “outperform” rating on the stock in a Friday, April 22 research note. Four equity research analysts gave the stock a hold rating and two gave the company a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $35.60.
Hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. State Street Corp increased its position in Columbia Banking System by 38.2% in the fourth quarter. State Street Corp now owns 4,957,374 shares of the financial services provider valued at $162,205,000 after buying an additional 1,370,893 shares in the last quarter. Millennium Management LLC bought a new position in Columbia Banking System in Q4 worth $35,816,000. BlackRock Inc. increased its position in Columbia Banking System by 8.8% in the fourth quarter. BlackRock Inc. now owns 11,456,349 shares of the financial services provider valued at $374,853,000 after purchasing an additional 928,840 shares in the last quarter. Norges Bank bought a new position in Columbia Banking System in Q4 worth $22,743,000. Finally, Neumeier Poma Investment Counsel LLC bought a new position in Columbia Banking System in Q1 worth $21,043,000. Institutional investors and hedge funds hold 94.44% of the company’s shares.
About the Columbia Banking System (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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