Devine David Moore Sells 3,872 Shares of Columbia Banking System (NASDAQ:COLB) Stock

Columbia Banking System, Inc. (NASDAQ:COLB) CMO Devine David Moore sold 3,872 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $29.77, for a total transaction of $115,269.44. Following the sale, the chief marketing officer owned 18,636 shares of the company’s stock, valued at $554,793.72. This trade represents a 17.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Columbia Banking System Price Performance

Shares of NASDAQ COLB traded up $0.16 during trading on Wednesday, hitting $30.31. The stock had a trading volume of 2,700,524 shares, compared to its average volume of 2,865,314. Columbia Banking System, Inc. has a 12 month low of $21.91 and a 12 month high of $32.70. The company has a market capitalization of $8.77 billion, a PE ratio of 12.08 and a beta of 0.63. The firm has a fifty day moving average of $29.15 and a two-hundred day moving average of $28.92.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. The firm had revenue of $675.00 million during the quarter, compared to analyst estimates of $677.34 million. Columbia Banking System had a net margin of 19.28% and a return on equity of 11.41%. The business’s revenue was up 37.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.67 EPS. On average, equities analysts expect 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 will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be issued a $0.37 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.48 annualized dividend and a dividend yield of 4.9%. Columbia Banking System’s dividend payout ratio (DPR) is currently 58.96%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. raised its holdings in Columbia Banking System by 6.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 5,949 shares of the financial services provider’s stock valued at $166,000 after buying an additional 348 shares during the period. Hilton Head Capital Partners LLC increased its stake in Columbia Banking System by 25.8% in the first quarter. Hilton Head Capital Partners LLC now owns 1,945 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 399 shares during the period. State of Michigan Retirement System increased its stake in Columbia Banking System by 0.6% in the first quarter. State of Michigan Retirement System now owns 71,041 shares of the financial services provider’s stock worth $1,949,000 after purchasing an additional 400 shares during the period. Wedbush Securities Inc. increased its stake in Columbia Banking System by 4.5% in the third quarter. Wedbush Securities Inc. now owns 9,915 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 423 shares during the period. Finally, Kera Capital Partners Inc. increased its stake in Columbia Banking System by 5.7% in the first quarter. Kera Capital Partners Inc. now owns 7,894 shares of the financial services provider’s stock worth $217,000 after purchasing an additional 425 shares during the period. 92.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

COLB has been the topic of a number of recent research reports. UBS Group started coverage on shares of Columbia Banking System in a research report on Tuesday, April 7th. They issued a “neutral” rating and a $30.00 target price on the stock. Barclays decreased their target price on Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 7th. Wells Fargo & Company upped their price target on shares of Columbia Banking System from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, March 30th. JPMorgan Chase & Co. reduced their price target on shares of Columbia Banking System from $34.00 to $31.00 and set a “neutral” rating for the company in a research report on Wednesday, April 1st. Finally, Wall Street Zen lowered shares of Columbia Banking System from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Columbia Banking System has a consensus rating of “Hold” and a consensus target price of $32.13.

Columbia Banking System Company Profile

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.