Columbia Banking System (NASDAQ:COLB) Reaches New 52-Week Low at $17.15

Columbia Banking System, Inc. (NASDAQ:COLB - Get Free Report)'s share price reached a new 52-week low on Tuesday . The company traded as low as $17.15 and last traded at $17.17, with a volume of 97731 shares traded. The stock had previously closed at $17.58.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Raymond James lowered Columbia Banking System from a "strong-buy" rating to an "outperform" rating and set a $25.00 target price for the company. in a research note on Thursday, January 25th. Piper Sandler reduced their price objective on Columbia Banking System from $36.00 to $29.00 and set an "overweight" rating for the company in a research note on Thursday, January 25th. UBS Group reduced their price objective on Columbia Banking System from $28.00 to $21.50 and set a "neutral" rating for the company in a research note on Friday, January 26th. Truist Financial reduced their price objective on Columbia Banking System from $22.00 to $20.00 and set a "hold" rating for the company in a research note on Monday, April 1st. Finally, Stephens lowered Columbia Banking System from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $31.00 to $24.00 in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $22.42.

Columbia Banking System Trading Down 1.3 %

The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 10.52 and a beta of 0.71. The company has a fifty day moving average of $18.54 and a 200-day moving average of $21.21.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.35). The firm had revenue of $519.16 million during the quarter, compared to analyst estimates of $525.94 million. Columbia Banking System had a return on equity of 10.27% and a net margin of 12.71%. The company's quarterly revenue was up 52.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.93 earnings per share. As a group, equities research analysts expect that Columbia Banking System, Inc. will post 2.25 EPS for the current year.

Columbia Banking System Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 23rd were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 8.30%. The ex-dividend date of this dividend was Thursday, February 22nd. Columbia Banking System's dividend payout ratio is currently 87.27%.

Insider Transactions at Columbia Banking System

In related news, Director Elizabeth Whitehead Seaton bought 2,685 shares of the stock in a transaction dated Tuesday, February 6th. The shares were acquired at an average cost of $18.48 per share, for a total transaction of $49,618.80. Following the acquisition, the director now directly owns 25,001 shares in the company, valued at approximately $462,018.48. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Elizabeth Whitehead Seaton purchased 2,685 shares of Columbia Banking System stock in a transaction dated Tuesday, February 6th. The shares were purchased at an average price of $18.48 per share, with a total value of $49,618.80. Following the transaction, the director now owns 25,001 shares in the company, valued at $462,018.48. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Aaron James Deer purchased 2,000 shares of Columbia Banking System stock in a transaction dated Thursday, February 1st. The shares were purchased at an average cost of $19.32 per share, for a total transaction of $38,640.00. Following the transaction, the insider now owns 36,850 shares in the company, valued at approximately $711,942. The disclosure for this purchase can be found here. Insiders have purchased a total of 35,133 shares of company stock worth $719,737 in the last ninety days. Insiders own 0.59% of the company's stock.

Institutional Trading of Columbia Banking System

Several institutional investors have recently made changes to their positions in COLB. Keeley Teton Advisors LLC increased its position in shares of Columbia Banking System by 11.0% during the third quarter. Keeley Teton Advisors LLC now owns 405,480 shares of the financial services provider's stock worth $8,231,000 after acquiring an additional 40,215 shares during the period. Kennedy Capital Management LLC increased its position in shares of Columbia Banking System by 1,633.4% during the third quarter. Kennedy Capital Management LLC now owns 1,277,639 shares of the financial services provider's stock worth $25,936,000 after acquiring an additional 1,203,933 shares during the period. American Century Companies Inc. increased its position in shares of Columbia Banking System by 32.5% during the third quarter. American Century Companies Inc. now owns 3,939,877 shares of the financial services provider's stock worth $79,980,000 after acquiring an additional 967,009 shares during the period. First Hawaiian Bank increased its position in shares of Columbia Banking System by 12.3% during the fourth quarter. First Hawaiian Bank now owns 20,062 shares of the financial services provider's stock worth $535,000 after acquiring an additional 2,200 shares during the period. Finally, Nordea Investment Management AB increased its position in shares of Columbia Banking System by 21.4% during the fourth quarter. Nordea Investment Management AB now owns 146,066 shares of the financial services provider's stock worth $3,910,000 after acquiring an additional 25,771 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 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.