Stock News Summary: Columbia Bank (NASDAQ: COLB)

Adam Benton

Columbia Bank (NASDAQ: COLB) stock observed trading -14.10% off 52-week high price. On the other end, the stock has been noted 21.29% away from low price over the last 52-weeks. The stock disclosed a move of 4.66% away from 50 day moving average and 2.51% away from 200 day moving average. Moving closer, we can see that shares have been trading 3.30% off 20-day moving average. It has market cap of $2707.62M and dividend yield of 3.02%.

On July 25, 2019, Hadley Robbins, President and Chief Executive Officer of Columbia Banking System and Columbia Bank (NASDAQ: COLB) (Columbia), said upon the release of Columbia’s second quarter 2019 earnings, We are quite pleased with the strong but disciplined loan growth in the quarter. That disciplined approach to our lending also comes through in the excellent credit quality of the portfolio at the midway point of 2019. We are confident that our focus on driving sustainable revenue growth combined with a disciplined approach to expense management will continue to drive long term shareholder value.

Balance Sheet

Total assets at June 30, 2019 were $13.09 billion, an increase of $26.4 million from the linked quarter. Loans were $8.65 billion, up $126.2 million, or 5.9% annualized, from March 31, 2019 as a result of loan originations of $400.7 million and increased seasonal line utilization partially offset by payments. Securities available for sale were $2.86 billion at June 30, 2019, a decrease of $162.9 million from $3.03 billion at March 31, 2019 as earning assets rotated into loans. Total deposits at June 30, 2019 were $10.21 billion, a decrease of $157.4 million from March 31, 2019. Core deposits comprised 96% of total deposits and were $9.77 billion at June 30, 2019, a decrease of $131.2 million from March 31, 2019. Deposit mix remained fairly consistent from March 31, 2019 with 50% noninterest-bearing and 50% interest-bearing. The average cost of total deposits for the quarter was 20 basis points, an increase of 2 basis points from the first quarter of 2019, on an actual/actual basis. For additional information regarding this calculation, see the Net Interest Margin section.

Clint Stein, Columbia’s Executive Vice President and Chief Operating Officer,stated, Our bankers continue to excel in a very competitive business environment by delivering record first half loan production. Mr. Stein continued,Their performance is both a testament to their capabilities and impressive given their continued adherence to our credit disciplines. The USA based company Columbia Banking System moved with change of 0.65% to $37.04 with the total traded volume of 408328 shares in recent session versus to an average volume of 250.81K. The stock was observed in the 5 days activity at 4.63%. The one month performance of stock was 5.80%. COLB’s shares are at 3.13% for the quarter and driving a -11.56% return over the course of the past year and is now at 2.83% since this point in 2018. Right now the stock beta is 1.06. The average volatility for the week and month was at 2.66% and 2.20% respectively. There are 73.1M shares outstanding and 72.92M shares are floated in market.

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