Columbia Banking System (NASDAQ:COLB) EVP Kumi Yamamoto Baruffi Sells 937 Shares

Columbia Banking System, Inc. (NASDAQ:COLB) EVP Kumi Yamamoto Baruffi sold 937 shares of the company’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $26.23, for a total value of $24,577.51. Following the sale, the executive vice president owned 53,715 shares in the company, valued at approximately $1,408,944.45. This trade represents a 1.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Columbia Banking System Stock Performance

Shares of COLB opened at $26.47 on Wednesday. The stock has a 50-day simple moving average of $29.38 and a 200-day simple moving average of $27.82. The stock has a market capitalization of $7.82 billion, a PE ratio of 11.71 and a beta of 0.60. Columbia Banking System, Inc. has a 1 year low of $19.61 and a 1 year high of $32.70.

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, January 22nd. The financial services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.10. The firm had revenue of $715.00 million for the quarter, compared to analyst estimates 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 period in the prior year, the firm earned $0.71 earnings per share. Analysts predict that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 5.6%. The ex-dividend date was Friday, February 27th. Columbia Banking System’s payout ratio is 65.49%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on COLB shares. Stephens lifted their price objective on shares of Columbia Banking System from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. TD Cowen reaffirmed a “hold” rating on shares of Columbia Banking System in a research report on Wednesday, January 7th. Piper Sandler increased their price objective on Columbia Banking System from $34.50 to $36.00 and gave the company an “overweight” rating in a report on Monday, January 26th. Wall Street Zen upgraded Columbia Banking System from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Royal Bank Of Canada upped their price target on Columbia Banking System from $30.00 to $32.00 and gave the company a “sector perform” rating in a report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $32.04.

Hedge Funds Weigh In On Columbia Banking System

Several hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in Columbia Banking System by 39.4% during the third quarter. Principal Financial Group Inc. now owns 664,110 shares of the financial services provider’s stock worth $17,094,000 after purchasing an additional 187,551 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Columbia Banking System by 145.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,019,088 shares of the financial services provider’s stock valued at $180,671,000 after purchasing an additional 4,157,835 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Columbia Banking System by 45.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 278,899 shares of the financial services provider’s stock worth $7,179,000 after purchasing an additional 87,627 shares during the period. Massachusetts Financial Services Co. MA increased its position in Columbia Banking System by 25.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,495,780 shares of the financial services provider’s stock worth $192,941,000 after purchasing an additional 1,497,177 shares during the period. Finally, Linden Thomas Advisory Services LLC raised its stake in shares of Columbia Banking System by 66.5% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 121,972 shares of the financial services provider’s stock worth $3,140,000 after buying an additional 48,702 shares in the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

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.