Columbia Banking System (NASDAQ:COLB) VP Sells $64,624.00 in Stock

Key Points

• VP Torran Nixon sold 2,240 shares at an average price of $28.85 on March 4 for $64,624, trimming his stake by 2.23% to 98,229 shares (≈$2.83M).
• The company declared a quarterly dividend of $0.37 (annualized $1.48), representing a 5.3% yield; the ex-dividend date was Feb 27 and payment is Mar 16.
• Quarterly results beat—EPS $0.82 vs $0.72 expected and revenue $715M vs $693.2M—while analysts maintain a consensus "Hold" rating with a $32.04 price target.

Columbia Banking System, Inc. (NASDAQ:COLB - Get Free Report) VP Torran Nixon sold 2,240 shares of Columbia Banking System stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $28.85, for a total value of $64,624.00. Following the sale, the vice president owned 98,229 shares of the company's stock, valued at approximately $2,833,906.65. This represents a 2.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Columbia Banking System Trading Down 2.0%

Shares of Columbia Banking System stock traded down $0.58 during mid-day trading on Thursday, hitting $28.00. 2,464,153 shares of the stock were exchanged, compared to its average volume of 2,917,518. The stock has a market capitalization of $8.28 billion, a price-to-earnings ratio of 12.39 and a beta of 0.60. Columbia Banking System, Inc. has a twelve month low of $19.61 and a twelve month high of $32.70. The company has a 50-day simple moving average of $29.67 and a 200 day simple moving average of $27.79.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.10. Columbia Banking System had a return on equity of 11.40% and a net margin of 17.11%.The business had revenue of $715.00 million for the quarter, compared to analysts' expectations of $693.23 million. During the same quarter last year, the firm earned $0.71 earnings per share. Equities research analysts forecast that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Friday, February 27th. Columbia Banking System's dividend payout ratio is presently 65.49%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on COLB. DA Davidson lifted their price target on shares of Columbia Banking System from $30.00 to $32.50 and gave the company a "neutral" rating in a research report on Friday, January 23rd. Wall Street Zen upgraded Columbia Banking System to a "hold" rating in a report on Saturday, December 27th. UBS Group reiterated a "neutral" rating and issued a $33.00 price objective on shares of Columbia Banking System in a report on Wednesday, February 4th. Weiss Ratings raised Columbia Banking System from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday. Finally, TD Cowen reaffirmed a "hold" rating on shares of Columbia Banking System in a report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $32.04.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. TD Waterhouse Canada Inc. boosted its stake in shares of Columbia Banking System by 6.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 5,949 shares of the financial services provider's stock valued at $166,000 after purchasing an additional 348 shares during the period. Wedbush Securities Inc. increased its position in shares of 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 valued at $255,000 after acquiring an additional 423 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Columbia Banking System by 1.2% during the fourth quarter. Quadrant Capital Group LLC now owns 38,350 shares of the financial services provider's stock valued at $1,072,000 after acquiring an additional 444 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in shares of Columbia Banking System by 0.4% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 122,428 shares of the financial services provider's stock worth $3,422,000 after purchasing an additional 456 shares during the period. Finally, Peregrine Asset Advisers Inc. increased its holdings in Columbia Banking System by 4.9% during the 3rd quarter. Peregrine Asset Advisers Inc. now owns 9,774 shares of the financial services provider's stock valued at $252,000 after purchasing an additional 457 shares during the period. Hedge funds and other institutional investors own 92.53% of the company's stock.

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.

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