Columbia Banking System, Inc. (NASDAQ:COLB) VP Torran B. Nixon Sells 4,481 Shares of Stock

Columbia Banking System, Inc. (NASDAQ:COLB) VP Torran B. Nixon sold 4,481 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $25.99, for a total value of $116,461.19. Following the completion of the sale, the vice president now owns 104,869 shares in the company, valued at $2,725,545.31. The trade was a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Columbia Banking System Stock Down 0.3 %

NASDAQ:COLB opened at $25.25 on Thursday. The business’s 50-day moving average price is $27.45 and its 200 day moving average price is $27.46. The firm has a market cap of $5.29 billion, a P/E ratio of 9.94 and a beta of 0.62. Columbia Banking System, Inc. has a 52-week low of $17.08 and a 52-week high of $32.85.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. Sell-side analysts expect that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.70%. Columbia Banking System’s dividend payout ratio is currently 56.69%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on COLB. Citigroup cut their target price on Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Stephens cut their target price on Columbia Banking System from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 28th. JPMorgan Chase & Co. lowered their price target on Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Keefe, Bruyette & Woods lowered their price target on Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating on the stock in a report on Friday, January 24th. Finally, Barclays raised their price target on Columbia Banking System from $29.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $30.38.

Hedge Funds Weigh In On Columbia Banking System

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC lifted its holdings in shares of Columbia Banking System by 1.1% in the third quarter. Tidal Investments LLC now owns 43,184 shares of the financial services provider’s stock valued at $1,128,000 after purchasing an additional 464 shares in the last quarter. Arizona State Retirement System raised its position in Columbia Banking System by 0.8% during the fourth quarter. Arizona State Retirement System now owns 60,758 shares of the financial services provider’s stock valued at $1,641,000 after buying an additional 469 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Columbia Banking System by 1.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 39,256 shares of the financial services provider’s stock worth $1,025,000 after acquiring an additional 544 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in Columbia Banking System by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 91,679 shares of the financial services provider’s stock worth $2,476,000 after acquiring an additional 580 shares during the period. Finally, Pacer Advisors Inc. grew its stake in Columbia Banking System by 2.0% during the 4th quarter. Pacer Advisors Inc. now owns 31,238 shares of the financial services provider’s stock valued at $844,000 after acquiring an additional 612 shares in the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

About Columbia Banking System

Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.