Torran Nixon Sells 2,241 Shares of Columbia Banking System (NASDAQ:COLB) Stock

Key Points

• Torran Nixon sold 2,241 shares of Columbia Banking System at an average price of $28.25 for $63,308.25 on March 3, reducing his stake by 2.18% to 100,469 shares; the sale was disclosed in an SEC filing.
• Columbia beat quarterly expectations with $0.82 EPS vs. $0.72 expected and $715.0M revenue, and announced a quarterly dividend of $0.37 per share (annualized $1.48, ~5.3% yield) with an ex-dividend date of Feb. 27 and payment on Mar. 16.
• The stock traded near $28.00 (market cap ~$8.28B, P/E 12.39) within a 52-week range of $19.61–$32.70, and analysts hold an average "Hold" rating with a mean target of $32.04 while institutional investors own about 92.5% of the shares.

Columbia Banking System, Inc. (NASDAQ:COLB - Get Free Report) VP Torran Nixon sold 2,241 shares of the business's stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $28.25, for a total value of $63,308.25. Following the transaction, the vice president owned 100,469 shares in the company, valued at approximately $2,838,249.25. This represents a 2.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Columbia Banking System Stock Performance

Shares of NASDAQ:COLB traded down $0.58 during mid-day trading on Thursday, hitting $28.00. 2,464,153 shares of the company traded hands, compared to its average volume of 2,917,518. The firm has a market cap of $8.28 billion, a P/E ratio of 12.39 and a beta of 0.60. Columbia Banking System, Inc. has a 52-week low of $19.61 and a 52-week high of $32.70. The firm's 50 day simple moving average is $29.67 and its 200 day simple moving average is $27.79.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last released its quarterly 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. Columbia Banking System had a return on equity of 11.40% and a net margin of 17.11%.The firm had revenue of $715.00 million during the quarter, compared to analysts' expectations of $693.23 million. During the same quarter in the prior year, the business earned $0.71 EPS. Equities research analysts expect that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be given 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 of this dividend is Friday, February 27th. Columbia Banking System's payout ratio is presently 65.49%.

Analysts Set New Price Targets

Several research firms have issued reports on COLB. JPMorgan Chase & Co. lifted their price objective on Columbia Banking System from $31.00 to $33.00 and gave the stock a "neutral" rating in a report on Tuesday, December 16th. UBS Group restated a "neutral" rating and issued a $33.00 price target on shares of Columbia Banking System in a research note on Wednesday, February 4th. DA Davidson increased their price objective on shares of Columbia Banking System from $30.00 to $32.50 and gave the company a "neutral" rating in a research note on Friday, January 23rd. Stephens boosted their target price 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. Finally, TD Cowen restated a "hold" rating on shares of Columbia Banking System in a research note on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Columbia Banking System has an average rating of "Hold" and an average target price of $32.04.

Institutional Investors Weigh In On Columbia Banking System

Institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC boosted its position in Columbia Banking System by 35.4% during the 1st quarter. AQR Capital Management LLC now owns 56,675 shares of the financial services provider's stock valued at $1,402,000 after purchasing an additional 14,824 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Columbia Banking System by 23.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 82,719 shares of the financial services provider's stock worth $2,063,000 after purchasing an additional 15,845 shares during the last quarter. Millennium Management LLC increased its stake in shares of Columbia Banking System by 572.7% in the first quarter. Millennium Management LLC now owns 484,730 shares of the financial services provider's stock valued at $12,089,000 after purchasing an additional 412,674 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Columbia Banking System by 28.4% during the first quarter. Goldman Sachs Group Inc. now owns 492,775 shares of the financial services provider's stock valued at $12,290,000 after buying an additional 108,994 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Columbia Banking System by 1.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 887,267 shares of the financial services provider's stock worth $22,128,000 after buying an additional 16,165 shares during the period. Institutional investors and hedge funds 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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