Key Points
- Director Steven Gardner sold 13,725 shares on January 30 at an average price of $29.43, a transaction totaling $403,926.75, according to an SEC filing.
- Columbia beat quarterly estimates with $0.82 EPS vs. $0.72 expected and revenue of $715.0M vs. $693.23M, reporting a net margin of 17.11% and return on equity of 11.40%.
- The company raised its quarterly dividend to $0.37 (annualized $1.48) for a 4.9% yield and a 65.49% payout ratio; the stock has a $9.11B market cap, a PE of 13.47, and a consensus analyst rating of "Hold" with a $31.65 target after several price-target upgrades.
Columbia Banking System, Inc. (NASDAQ:COLB - Get Free Report) Director Steven Gardner sold 13,725 shares of the firm's stock in a transaction on Friday, January 30th. The shares were sold at an average price of $29.43, for a total value of $403,926.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Columbia Banking System Trading Up 2.5%
Shares of NASDAQ COLB opened at $30.44 on Wednesday. Columbia Banking System, Inc. has a 1-year low of $19.61 and a 1-year high of $31.11. The company has a market cap of $9.11 billion, a PE ratio of 13.47 and a beta of 0.61. The company has a 50-day moving average of $28.74 and a two-hundred day moving average of $26.87.
Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.10. The firm had revenue of $715.00 million during the quarter, compared to analysts' expectations of $693.23 million. Columbia Banking System had a net margin of 17.11% and a return on equity of 11.40%. During the same quarter in the previous year, the company posted $0.71 EPS. As a group, equities research analysts forecast that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.
Columbia Banking System Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were paid a $0.37 dividend. This is a boost from Columbia Banking System's previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, November 28th. This represents a $1.48 annualized dividend and a dividend yield of 4.9%. Columbia Banking System's payout ratio is 65.49%.
Analysts Set New Price Targets
COLB has been the subject of several recent research reports. Barclays upped their target price on shares of Columbia Banking System from $29.00 to $30.00 and gave the company an "equal weight" rating in a research report on Friday, December 19th. Keefe, Bruyette & Woods lifted their price objective on Columbia Banking System from $31.00 to $33.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 17th. UBS Group reiterated a "neutral" rating and issued a $30.00 price objective on shares of Columbia Banking System in a report on Tuesday, January 6th. TD Cowen restated a "hold" rating on shares of Columbia Banking System in a report on Wednesday, January 7th. Finally, Piper Sandler boosted their target price on Columbia Banking System from $34.50 to $36.00 and gave the stock an "overweight" rating in a research report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $31.65.
Get Our Latest Stock Report on Columbia Banking System
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. True Wealth Design LLC raised its holdings in shares of Columbia Banking System by 612.8% during the third quarter. True Wealth Design LLC now owns 1,005 shares of the financial services provider's stock worth $26,000 after acquiring an additional 864 shares during the period. West Oak Capital LLC acquired a new stake in shares of Columbia Banking System in the 3rd quarter valued at about $28,000. Quent Capital LLC acquired a new stake in shares of Columbia Banking System in the 3rd quarter valued at about $29,000. Geneos Wealth Management Inc. lifted its holdings in shares of Columbia Banking System by 194.6% in the first quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 794 shares in the last quarter. Finally, First Horizon Corp acquired a new position in shares of Columbia Banking System during the third quarter worth about $31,000. Institutional investors and hedge funds own 92.53% of the company's stock.
Columbia Banking System Company Profile
(
Get Free Report)
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.
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