Insider Selling: Columbia Banking System, Inc. (COLB) CAO Sells $35,152.50 in Stock

Columbia Banking System, Inc. (NASDAQ:COLB) CAO Barry Ray sold 750 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $46.87, for a total value of $35,152.50. Following the sale, the chief accounting officer now owns 11,250 shares in the company, valued at approximately $527,287.50. The sale was disclosed in a filing with the SEC, which is available through this link.

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) traded down $0.25 during trading hours on Thursday, reaching $45.56. The company’s stock had a trading volume of 157,000 shares, compared to its average volume of 361,839. The company has a market capitalization of $3,344.99, a price-to-earnings ratio of 20.82, a P/E/G ratio of 2.08 and a beta of 1.24. Columbia Banking System, Inc. has a 1-year low of $35.67 and a 1-year high of $48.06.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. The business had revenue of $126.00 million for the quarter, compared to analyst estimates of $119.16 million. Columbia Banking System had a return on equity of 9.93% and a net margin of 27.72%. The company’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 earnings per share. equities analysts predict that Columbia Banking System, Inc. will post 2.2 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st were issued a $0.22 dividend. The ex-dividend date was Monday, October 30th. This represents a $0.88 annualized dividend and a yield of 1.93%. Columbia Banking System’s payout ratio is currently 40.00%.

A number of large investors have recently made changes to their positions in COLB. Flinton Capital Management LLC lifted its holdings in shares of Columbia Banking System by 98.1% in the second quarter. Flinton Capital Management LLC now owns 3,328 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 1,648 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Columbia Banking System by 2.1% in the second quarter. D.A. Davidson & CO. now owns 3,631 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 73 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of Columbia Banking System in the third quarter valued at approximately $202,000. Janney Montgomery Scott LLC bought a new position in shares of Columbia Banking System in the third quarter valued at approximately $204,000. Finally, Riverhead Capital Management LLC lifted its holdings in shares of Columbia Banking System by 102.4% in the second quarter. Riverhead Capital Management LLC now owns 5,262 shares of the financial services provider’s stock valued at $210,000 after purchasing an additional 2,662 shares in the last quarter. Institutional investors and hedge funds own 76.61% of the company’s stock.

COLB has been the topic of several research analyst reports. Zacks Investment Research lowered Columbia Banking System from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. DA Davidson restated a “buy” rating and set a $48.00 target price (up previously from $45.00) on shares of Columbia Banking System in a research report on Tuesday, October 17th. BidaskClub lowered Columbia Banking System from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $42.00 target price on shares of Columbia Banking System in a research report on Friday, September 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $45.60.

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About Columbia Banking System

Columbia Banking System, Inc (Columbia) is a bank holding company for Columbia State Bank (the Bank) and Columbia Trust Company (Columbia Trust). The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals. It offers products and services, which include Personal Banking, Business Banking and Wealth Management.

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