The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Columbia Banking System Inc. shares valued at $6,989 were purchased by Lawson David C on Jun 30. At $25.79 per share, Lawson David C acquired 271 shares. The insider’s holdings grew to 20,948 shares worth approximately $0.64 million following the completion of this transaction.
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Also, BARUFFI KUMI YAMAMOTO purchased 446 shares, netting a total of over 11,502 in proceeds. Following the buying of shares at $25.79 each, the insider now holds 23,584 shares.
Before that, Deer Aaron James had added 748 shares to its account. In a trade valued at $19,291, the EVP Chief Financial Officer bought Columbia Banking System Inc. shares for $25.79 each. Upon closing the transaction, the insider’s holdings increased to 748 shares, worth approximately $0.5 million.
Analysts at DA Davidson upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in mid October. As of October 07, 2021, Raymond James has increased its “Mkt perform” rating to a “an Outperform” for COLB. Earlier on February 25, 2021, Piper Sandler downgraded its rating. Their new recommendation was “a Neutral” for COLB stock which previously was a “an Overweight”.
Analyzing COLB’s Price Performance
On Wednesday, Columbia Banking System Inc. [NASDAQ: COLB] rose 0.16% to $30.79. The stock’s lowest price that day was $30.79, but it reached a high of $31.63 in the same session. During the last five days, there has been a surge of approximately 3.36%. Over the course of the year, Columbia Banking System Inc. shares have dropped approximately -5.90%. Shares of the company reached a 52-week high of $37.65 on 01/13/22 and a 52-week low of $26.97 on 06/16/22. A 50-day SMA is recorded $30.36, while a 200-day SMA reached $31.73. Nevertheless, trading volume fell to 1.34 million shares from 0.41 million shares the previous day.
Support And Resistance Levels for Columbia Banking System Inc. (COLB)
According to the 24-hour chart, there is a support level at 30.51, which, if violated, would cause prices to drop to 30.23. In the upper region, resistance lies at 31.35. The next price resistance is at 31.91. RSI (Relative Strength Index) is 53.21 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.61, which suggests the price will decrease in the coming days. Percent R is at 25.65%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Columbia Banking System Inc. subject to short interest?
Stocks of Columbia Banking System Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.57 million shares to 11.67 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 11.1 million shares. A jump of 4.88% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 12.42 of the overall float, the days-to-cover ratio (short ratio) jumped to 12.42.
Which companies own the most shares of Columbia Banking System Inc. (COLB)?
According to BlackRock Fund Advisors filings, the company currently owns 10,881,238 shares, which is about 13.84% of the total COLB shares outstanding. The investor’s shares have plunged by -47,932 from its previous 13-F filing of 10929170.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $270,017,190. SSgA Funds Management, Inc. reduced a -10.82% interest valued at $155.2 million while Dimensional Fund Advisors LP purchased a 805,043 stake. A total of 605,621 shares of Columbia Banking System Inc. were bought by Franklin Mutual Advisers LLC during the quarter, and 127,345 were bought by T. Rowe Price Associates, Inc. In its current portfolio, Cardinal Capital Management LLC holds 2,618,329 shares valued at $78.42 million.
In terms of Columbia Banking System Inc. share price expectations, FactSet research, analysts set an average price target of $34.67 in the next 12 months, up nearly 12.23% from the previous closing price of $30.74. Analysts anticipate Columbia Banking System Inc. stock to reach $38.00 by 2022, with the lowest price target being $31.00. In spite of this, 6 analysts ranked Columbia Banking System Inc. stock as a Hold at the end of 2022. On January 29, 2021, Keefe Bruyette assigned a price target of “a Mkt perform” to the stock and downgraded coverage with a $43.