Maven Securities LTD grew its position in Columbia Banking System, Inc. (NASDAQ:COLB – Get Rating) by 26.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 124,564 shares of the financial services provider's stock after purchasing an additional 26,252 shares during the period. Maven Securities LTD's holdings in Columbia Banking System were worth $4,020,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Covestor Ltd acquired a new stake in shares of Columbia Banking System in the 4th quarter valued at $28,000. Meeder Asset Management Inc. acquired a new stake in shares of Columbia Banking System in the 1st quarter valued at $41,000. Pinebridge Investments L.P. acquired a new stake in shares of Columbia Banking System in the 4th quarter valued at $69,000. Howe & Rusling Inc. acquired a new stake in shares of Columbia Banking System in the 1st quarter valued at $88,000. Finally, FourThought Financial LLC boosted its stake in shares of Columbia Banking System by 29.6% in the 1st quarter. FourThought Financial LLC now owns 3,671 shares of the financial services provider's stock valued at $118,000 after purchasing an additional 839 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.
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Analyst Upgrades and Downgrades
Separately, Raymond James dropped their price objective 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $34.80.
Columbia Banking System Trading Up 1.7 %
Shares of NASDAQ:COLB opened at $30.82 on Friday. The stock has a market capitalization of $2.42 billion, a P/E ratio of 11.09 and a beta of 0.66. Columbia Banking System, Inc. has a 1-year low of $26.97 and a 1-year high of $40.78. The business has a 50-day moving average price of $30.20 and a two-hundred day moving average price of $30.71.
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 for the quarter, missing the consensus estimate of $0.77 by ($0.02). Columbia Banking System had a return on equity of 9.68% and a net margin of 31.28%. During the same period in the prior year, the firm earned $0.77 EPS. As a group, equities analysts predict that Columbia Banking System, Inc. will post 2.8 EPS for the current year.
Columbia Banking System Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 17th. Stockholders of record on Wednesday, August 3rd were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 2nd. This represents a $1.20 annualized dividend and a dividend yield of 3.89%. Columbia Banking System's payout ratio is currently 43.17%.
Columbia Banking System Profile
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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.
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