Columbia Banking System, Inc. (NASDAQ:COLB) Director Buys $174,518.01 in Stock

Columbia Banking System, Inc. (NASDAQ:COLBGet Free Report) Director John F. Schultz purchased 8,559 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was bought at an average cost of $20.39 per share, for a total transaction of $174,518.01. Following the completion of the acquisition, the director now directly owns 41,870 shares in the company, valued at approximately $853,729.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Columbia Banking System Stock Down 4.5 %

Shares of COLB opened at $20.16 on Thursday. The business’s 50-day moving average price is $24.70 and its 200-day moving average price is $22.06. Columbia Banking System, Inc. has a twelve month low of $17.54 and a twelve month high of $33.24. The stock has a market cap of $4.20 billion, a PE ratio of 12.22 and a beta of 0.72.

Columbia Banking System (NASDAQ:COLBGet Free Report) last announced its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.35). Columbia Banking System had a net margin of 12.71% and a return on equity of 10.27%. The company had revenue of $519.16 million for the quarter, compared to the consensus estimate of $525.94 million. During the same quarter in the prior year, the company earned $0.93 earnings per share. The company’s quarterly revenue was up 52.5% on a year-over-year basis. Analysts expect that Columbia Banking System, Inc. will post 2.59 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Friday, November 24th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 7.14%. The ex-dividend date was Wednesday, November 22nd. Columbia Banking System’s dividend payout ratio (DPR) is 87.27%.

Analyst Ratings Changes

A number of brokerages recently weighed in on COLB. Piper Sandler cut their price target on shares of Columbia Banking System from $36.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, January 25th. Royal Bank of Canada dropped their price objective on shares of Columbia Banking System from $28.00 to $25.00 and set a “sector perform” rating on the stock in a report on Thursday, January 25th. Keefe, Bruyette & Woods downgraded shares of Columbia Banking System from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $30.00 to $25.00 in a report on Thursday, January 25th. UBS Group dropped their price objective on shares of Columbia Banking System from $28.00 to $21.50 and set a “neutral” rating on the stock in a report on Friday, January 26th. Finally, TheStreet raised shares of Columbia Banking System from a “c+” rating to a “b-” rating in a report on Thursday, November 30th. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Columbia Banking System presently has a consensus rating of “Hold” and an average target price of $24.13.

View Our Latest Research Report on COLB

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of COLB. Macquarie Group Ltd. increased its position in shares of Columbia Banking System by 3,669.2% in the first quarter. Macquarie Group Ltd. now owns 8,094,950 shares of the financial services provider’s stock worth $173,405,000 after purchasing an additional 7,880,183 shares during the last quarter. BlackRock Inc. increased its position in shares of Columbia Banking System by 65.9% in the first quarter. BlackRock Inc. now owns 18,791,230 shares of the financial services provider’s stock worth $402,508,000 after purchasing an additional 7,465,846 shares during the last quarter. State Street Corp increased its position in shares of Columbia Banking System by 91.2% in the first quarter. State Street Corp now owns 9,102,942 shares of the financial services provider’s stock worth $194,985,000 after purchasing an additional 4,342,755 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Columbia Banking System in the first quarter worth approximately $90,775,000. Finally, Wellington Management Group LLP bought a new position in shares of Columbia Banking System in the third quarter worth approximately $80,011,000. 89.82% of the stock is currently owned by institutional investors.

About Columbia Banking System

(Get Free Report)

Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides commercial and retail banking services. The company offers deposit products, including interest-bearing checking, savings, money market, and certificate of deposit accounts. It also provides home mortgages for purchases and refinances, home equity loans and lines of credit, and other personal loans; and agricultural loans, asset-based loans, builder and other commercial real estate loans, and loans guaranteed by the SBA, as well as offer a suite of business edge loans designed for small businesses to expand, purchase equipment, or in need of working capital.

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