21,546 Shares in Columbia Banking System, Inc. $COLB Bought by Commerce Bank

Commerce Bank acquired a new stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,546 shares of the financial services provider’s stock, valued at approximately $691,000.

A number of other institutional investors also recently bought and sold shares of COLB. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Columbia Banking System during the second quarter valued at $29,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Columbia Banking System during the second quarter valued at $31,000. Cedar Mountain Advisors LLC lifted its stake in Columbia Banking System by 571.7% during the 1st quarter. Cedar Mountain Advisors LLC now owns 1,115 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 949 shares during the period. Geneos Wealth Management Inc. lifted its position in Columbia Banking System by 194.6% during the first quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 794 shares during the period. Finally, Horizon Investments LLC boosted its stake in shares of Columbia Banking System by 168.8% in the 4th quarter. Horizon Investments LLC now owns 1,231 shares of the financial services provider’s stock worth $34,000 after buying an additional 773 shares during the last quarter. 92.53% of the stock is owned by institutional investors.

Insider Activity at Columbia Banking System

In other news, CMO Devine David Moore sold 3,872 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $29.77, for a total value of $115,269.44. Following the completion of the transaction, the chief marketing officer directly owned 18,636 shares of the company’s stock, valued at approximately $554,793.72. The trade was a 17.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.57% of the company’s stock.

Columbia Banking System Price Performance

Shares of COLB opened at $30.71 on Thursday. The firm has a market capitalization of $8.69 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 3.02 and a beta of 0.63. The company has a 50-day moving average of $31.71 and a 200 day moving average of $30.05. Columbia Banking System, Inc. has a 1-year low of $23.83 and a 1-year high of $33.67.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.03. The company had revenue of $677.00 million for the quarter, compared to analysts’ expectations of $687.40 million. Columbia Banking System had a return on equity of 11.33% and a net margin of 19.96%.During the same quarter in the prior year, the firm earned $0.76 earnings per share. On average, equities analysts anticipate that Columbia Banking System, Inc. will post 3.03 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 28th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Friday, August 28th. Columbia Banking System’s dividend payout ratio (DPR) is presently 58.96%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Columbia Banking System from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. Barclays lowered their price target on Columbia Banking System from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Monday, August 3rd. Stephens increased their price objective on shares of Columbia Banking System from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Friday, July 24th. Wells Fargo & Company raised their target price on shares of Columbia Banking System from $32.00 to $34.00 and gave the company an “equal weight” rating in a report on Monday, August 10th. Finally, Zacks Research cut Columbia Banking System from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $33.35.

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.