Shares of Columbia Banking System, Inc. (NASDAQ:COLB – Get Rating) have been assigned a consensus rating of "Hold" from the seven research firms that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $34.80.
COLB has been the subject of several research reports. Piper Sandler lowered their price objective on shares of Columbia Banking System from $35.00 to $31.00 in a research report on Monday, May 2nd. Raymond James lowered their price target on shares of Columbia Banking System from $38.00 to $34.00 and set an "outperform" rating for the company in a research report on Thursday, July 7th.
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Columbia Banking System Price Performance
Columbia Banking System stock opened at $30.04 on Thursday. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 10.81 and a beta of 0.67. Columbia Banking System has a 1 year low of $26.97 and a 1 year high of $40.78. The firm has a 50-day moving average of $29.99 and a two-hundred day moving average of $31.05.
Columbia Banking System (NASDAQ:COLB – Get Rating) last released its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.02). Columbia Banking System had a net
margin of 31.28% and a return on equity of 9.68%. During the same quarter in the previous year, the firm earned $0.77 earnings per share. Research analysts expect that Columbia Banking System will post 2.74 earnings per share for the current year.
Columbia Banking System Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 17th. Stockholders of record on Wednesday, August 3rd were given a $0.30 dividend. The ex-dividend date was Tuesday, August 2nd. This represents a $1.20 annualized dividend and a dividend yield of 3.99%. Columbia Banking System's payout ratio is presently 43.17%.
Insider Transactions at Columbia Banking System
In other news, Director Craig D. Eerkes acquired 1,694 shares of Columbia Banking System stock in a transaction that occurred on Friday, June 10th. The stock was purchased at an average price of $28.52 per share, for a total transaction of $48,312.88. Following the purchase, the director now directly owns 20,227 shares in the company, valued at approximately $576,874.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders acquired 2,713 shares of company stock valued at $74,593. Company insiders own 0.62% of the company's stock.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the company. Legal & General Group Plc raised its stake in shares of Columbia Banking System by 2.5% during the 2nd quarter. Legal & General Group Plc now owns 227,153 shares of the financial services provider's stock worth $6,508,000 after acquiring an additional 5,493 shares in the last quarter. rhino investment partners Inc increased its stake in Columbia Banking System by 72.5% during the 2nd quarter. rhino investment partners Inc now owns 499,365 shares of the financial services provider's stock valued at $14,307,000 after purchasing an additional 209,811 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Columbia Banking System by 17.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,561,582 shares of the financial services provider's stock valued at $44,739,000 after purchasing an additional 236,613 shares in the last quarter. Centiva Capital LP acquired a new position in Columbia Banking System during the 2nd quarter valued at approximately $480,000. Finally, Thrivent Financial for Lutherans increased its stake in shares of Columbia Banking System by 17.1% in the second quarter. Thrivent Financial for Lutherans now owns 2,120,130 shares of the financial services provider's stock worth $60,742,000 after acquiring an additional 309,612 shares during the period. Institutional investors own 94.44% of the company's stock.
About Columbia Banking System
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Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in the United States. It offers personal banking products and services, including noninterest and interest-bearing checking, savings, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and other personal loans; debit and credit cards; and digital banking services.
Further Reading
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