Andy Mcdonald Sells 3,481 Shares of Columbia Banking System Inc (NASDAQ:COLB) Stock

Columbia Banking System Inc (NASDAQ:COLB) EVP Andy Mcdonald sold 3,481 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $35.06, for a total transaction of $122,043.86. Following the completion of the sale, the executive vice president now owns 36,264 shares in the company, valued at $1,271,415.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Shares of Columbia Banking System stock traded down $0.27 during trading on Wednesday, hitting $34.98. The stock had a trading volume of 157,666 shares, compared to its average volume of 351,086. The company has a market cap of $2.59 billion, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 1.92 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.83 and a quick ratio of 0.83. Columbia Banking System Inc has a 1 year low of $30.65 and a 1 year high of $43.92.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.01. Columbia Banking System had a net margin of 30.12% and a return on equity of 9.01%. The firm had revenue of $142.72 million for the quarter, compared to the consensus estimate of $147.05 million. During the same period in the previous year, the firm posted $0.55 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. On average, analysts expect that Columbia Banking System Inc will post 2.55 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date was Tuesday, May 7th. Columbia Banking System’s payout ratio is presently 45.34%.

COLB has been the topic of a number of research reports. ValuEngine downgraded shares of Columbia Banking System from a “hold” rating to a “sell” rating in a report on Thursday, February 14th. BidaskClub downgraded shares of Columbia Banking System from a “hold” rating to a “sell” rating in a research report on Saturday, March 9th. Stephens started coverage on shares of Columbia Banking System in a research report on Wednesday, March 6th. They issued an “equal weight” rating and a $39.00 target price on the stock. DA Davidson downgraded shares of Columbia Banking System from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $42.00 to $38.00 in a research report on Monday, March 18th. Finally, Zacks Investment Research raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Friday, March 29th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Columbia Banking System has an average rating of “Hold” and a consensus target price of $42.33.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Toronto Dominion Bank purchased a new position in Columbia Banking System during the fourth quarter valued at approximately $25,000. Quantamental Technologies LLC purchased a new stake in shares of Columbia Banking System in the first quarter worth about $32,000. Versant Capital Management Inc lifted its position in shares of Columbia Banking System by 51.4% in the first quarter. Versant Capital Management Inc now owns 1,684 shares of the financial services provider’s stock worth $55,000 after buying an additional 572 shares in the last quarter. Advisor Group Inc. lifted its position in shares of Columbia Banking System by 9.2% in the fourth quarter. Advisor Group Inc. now owns 3,645 shares of the financial services provider’s stock worth $132,000 after buying an additional 307 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Columbia Banking System by 18.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,896 shares of the financial services provider’s stock worth $179,000 after buying an additional 757 shares in the last quarter. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

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About Columbia Banking System

Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in Washington, Oregon, and Idaho. It offers personal banking products and services, including noninterest and interest-bearing checking, saving, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and personal loans; debit and credit cards; and digital banking services.

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