Columbia Banking System (NASDAQ:COLB) EVP Buys $22,477.82 in Stock

Columbia Banking System, Inc. (NASDAQ:COLB) EVP Aaron James Deer acquired 886 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were bought at an average cost of $25.37 per share, for a total transaction of $22,477.82. Following the transaction, the executive vice president owned 42,761 shares of the company’s stock, valued at $1,084,846.57. This represents a 2.12% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Columbia Banking System Stock Performance

Shares of Columbia Banking System stock opened at $31.72 on Friday. The company has a market capitalization of $9.18 billion, a PE ratio of 12.64 and a beta of 0.62. The company has a 50-day simple moving average of $30.13 and a two-hundred day simple moving average of $29.31. Columbia Banking System, Inc. has a one year low of $22.77 and a one year high of $32.77.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. Columbia Banking System had a net margin of 19.28% and a return on equity of 11.41%. The business had revenue of $675.00 million during the quarter, compared to analyst estimates of $677.34 million. During the same period in the prior year, the firm posted $0.67 earnings per share. The company’s quarterly revenue was up 37.9% on a year-over-year basis. On average, equities analysts predict that Columbia Banking System, Inc. will post 3.08 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.48 dividend on an annualized basis and a yield of 4.7%. Columbia Banking System’s dividend payout ratio is presently 58.96%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. TD Waterhouse Canada Inc. lifted its stake in shares of Columbia Banking System by 6.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 5,949 shares of the financial services provider’s stock worth $166,000 after buying an additional 348 shares during the period. Hilton Head Capital Partners LLC increased its position in shares of Columbia Banking System by 25.8% in the 1st quarter. Hilton Head Capital Partners LLC now owns 1,945 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 399 shares during the period. State of Michigan Retirement System increased its position in shares of Columbia Banking System by 0.6% in the 1st quarter. State of Michigan Retirement System now owns 71,041 shares of the financial services provider’s stock valued at $1,949,000 after acquiring an additional 400 shares during the period. Kera Capital Partners Inc. raised its stake in Columbia Banking System by 5.7% in the 1st quarter. Kera Capital Partners Inc. now owns 7,894 shares of the financial services provider’s stock worth $217,000 after acquiring an additional 425 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in Columbia Banking System by 1.2% in the 4th quarter. Quadrant Capital Group LLC now owns 38,350 shares of the financial services provider’s stock worth $1,072,000 after acquiring an additional 444 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. UBS Group assumed coverage on shares of Columbia Banking System in a report on Tuesday, April 7th. They issued a “neutral” rating and a $30.00 price target on the stock. Fundamental Research set a $35.00 price objective on Columbia Banking System in a research report on Wednesday. Weiss Ratings restated a “buy (b-)” rating on shares of Columbia Banking System in a research note on Monday, June 29th. Wall Street Zen lowered Columbia Banking System from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Finally, Piper Sandler upped their target price on Columbia Banking System from $34.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, Columbia Banking System currently has an average rating of “Hold” and a consensus target price of $32.65.

About Columbia Banking System

Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.

The company’s offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.