Aaron James Deer Purchases 886 Shares of Columbia Banking System (NASDAQ:COLB) Stock

Columbia Banking System, Inc. (NASDAQ:COLB) EVP Aaron James Deer purchased 886 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was purchased at an average price of $25.37 per share, for a total transaction of $22,477.82. Following the acquisition, the executive vice president owned 42,761 shares of the company’s stock, valued at $1,084,846.57. The trade was a 2.12% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Columbia Banking System Stock Performance

NASDAQ:COLB traded down $0.79 on Thursday, hitting $31.72. 3,396,916 shares of the stock were exchanged, compared to its average volume of 2,907,751. Columbia Banking System, Inc. has a 52 week low of $22.77 and a 52 week high of $32.77. The stock has a market capitalization of $9.18 billion, a price-to-earnings ratio of 12.64 and a beta of 0.62. The company’s 50-day moving average price is $30.02 and its 200 day moving average price is $29.28.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. Columbia Banking System had a net margin of 19.28% and a return on equity of 11.41%. The company had revenue of $675.00 million during the quarter, compared to analysts’ expectations of $677.34 million. During the same quarter in the previous year, the company earned $0.67 EPS. Columbia Banking System’s revenue was up 37.9% on a year-over-year basis. As a group, equities research analysts predict that Columbia Banking System, Inc. will post 3.08 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.7%. Columbia Banking System’s dividend payout ratio is 58.96%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake in Columbia Banking System by 14.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,536,008 shares of the financial services provider’s stock valued at $193,977,000 after acquiring an additional 929,862 shares in the last quarter. HoldCo Asset Management LP raised its holdings in shares of Columbia Banking System by 27.6% in the third quarter. HoldCo Asset Management LP now owns 5,722,786 shares of the financial services provider’s stock valued at $147,305,000 after purchasing an additional 1,239,489 shares during the last quarter. Lighthouse Investment Partners LLC raised its holdings in shares of Columbia Banking System by 268.5% in the third quarter. Lighthouse Investment Partners LLC now owns 664,684 shares of the financial services provider’s stock valued at $17,109,000 after purchasing an additional 484,304 shares during the last quarter. BW Gestao de Investimentos Ltda. bought a new stake in shares of Columbia Banking System in the fourth quarter worth $9,782,000. Finally, Easterly Investment Partners LLC lifted its position in shares of Columbia Banking System by 10.6% in the fourth quarter. Easterly Investment Partners LLC now owns 713,206 shares of the financial services provider’s stock worth $19,934,000 after purchasing an additional 68,388 shares in the last quarter. Institutional investors own 92.53% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Fundamental Research set a $35.00 target price on Columbia Banking System in a research note on Wednesday. Wall Street Zen lowered Columbia Banking System from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Columbia Banking System in a research note on Monday. UBS Group assumed coverage on shares of Columbia Banking System in a research report on Tuesday, April 7th. They issued a “neutral” rating and a $30.00 price target on the stock. Finally, Barclays reduced their price objective on shares of Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, Columbia Banking System currently has a consensus rating of “Hold” and a consensus target price of $32.65.

About Columbia Banking System

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.