Raymond James & Associates trimmed its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB – Get Rating) by 2.6% during the first quarter, Holdings Channel.com reports. The firm owned 183,664 shares of the financial services provider's stock after selling 4,927 shares during the period. Raymond James & Associates' holdings in Columbia Banking System were worth $5,927,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the company. Covestor Ltd bought a new stake in Columbia Banking System during the fourth quarter worth $28,000. Meeder Asset Management Inc. bought a new stake in Columbia Banking System during the first quarter worth $41,000. Pinebridge Investments L.P. bought a new stake in Columbia Banking System during the fourth quarter worth $69,000. Howe & Rusling Inc. bought a new stake in Columbia Banking System during the first quarter worth $88,000. Finally, FourThought Financial LLC grew its holdings in Columbia Banking System by 29.6% during the first quarter. FourThought Financial LLC now owns 3,671 shares of the financial services provider's stock worth $118,000 after buying an additional 839 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.
Get
Columbia Banking System alerts:
Columbia Banking System Price Performance
Shares of NASDAQ:COLB opened at $29.41 on Monday. The company has a market capitalization of $2.31 billion, a PE ratio of 10.58 and a beta of 0.67. The business has a fifty day moving average price of $30.12 and a two-hundred day moving average price of $30.99. Columbia Banking System, Inc. has a 1 year low of $26.97 and a 1 year high of $40.78.
Columbia Banking System (NASDAQ:COLB – Get Rating) last announced its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.77 by ($0.02). Columbia Banking System had a net
margin of 31.28% and a return on equity of 9.68%. During the same period in the prior year, the company posted $0.77 earnings per share. Sell-side analysts anticipate that Columbia Banking System, Inc. will post 2.74 earnings per share for the current year.
Columbia Banking System Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 17th. Shareholders of record on Wednesday, August 3rd were paid a $0.30 dividend. The ex-dividend date was Tuesday, August 2nd. This represents a $1.20 dividend on an annualized basis and a yield of 4.08%. Columbia Banking System's dividend payout ratio (DPR) is presently 43.17%.
Analyst Ratings Changes
Separately, Raymond James decreased their price target on Columbia Banking System from $38.00 to $34.00 and set an "outperform" rating for the company in a report on Thursday, July 7th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Columbia Banking System presently has a consensus rating of "Hold" and a consensus target price of $34.80.
Insider Transactions at Columbia Banking System
In other news, Director Craig D. Eerkes purchased 1,694 shares of the business's stock in a transaction dated Friday, June 10th. The stock was bought at an average price of $28.52 per share, for a total transaction of $48,312.88. Following the purchase, the director now owns 20,227 shares of the company's stock, valued at $576,874.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders bought 2,713 shares of company stock worth $74,593. 0.62% of the stock is owned by company insiders.
Columbia Banking System Profile
(Get Rating)
Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in the United States. It offers personal banking products and services, including noninterest and interest-bearing checking, savings, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and other personal loans; debit and credit cards; and digital banking services.
Recommended Stories
- Get a free copy of the StockNews.com research report on Columbia Banking System (COLB)
- Could Snap Stock Rebound As Management Restructures?
- MarketBeat: Week in Review 8/29 – 9/2
- Hormel Looks Cheap At These Levels
- Lululemon Set To Soar Into September
- Could Nike Stock be Oversold, but Still Overvalued?
Want to see what other hedge funds are holding COLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Columbia Banking System, Inc. (NASDAQ:COLB – Get Rating).
Receive News & Ratings for Columbia Banking System Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbia Banking System and related companies with MarketBeat.com's FREE daily email newsletter.
