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.
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.
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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