Crossmark Global Holdings Inc. lifted its holdings in Columbia Banking System, Inc. (NASDAQ:COLB – Get Rating) by 6.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,120 shares of the financial services provider's stock after acquiring an additional 420 shares during the period. Crossmark Global Holdings Inc.'s holdings in Columbia Banking System were worth $230,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in COLB. Covestor Ltd acquired a new stake in shares of Columbia Banking System in the fourth quarter worth $28,000. Meeder Asset Management Inc. purchased a new position in shares of Columbia Banking System in the first quarter valued at $41,000. Pinebridge Investments L.P. purchased a new position in shares of Columbia Banking System in the fourth quarter valued at $69,000. Howe & Rusling Inc. purchased a new position in shares of Columbia Banking System in the first quarter valued at $88,000. Finally, FourThought Financial LLC boosted its stake in shares of Columbia Banking System by 29.6% in the first 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 during the period. Institutional investors and hedge funds own 94.45% of the company's stock.
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NASDAQ COLB opened at $29.93 on Friday. Columbia Banking System, Inc. has a 12 month low of $26.97 and a 12 month high of $40.78. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 10.77 and a beta of 0.67. The company's fifty day moving average price is $30.12 and its two-hundred day moving average price is $30.99.
Columbia Banking System (NASDAQ:COLB – Get Rating) last posted its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.75 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 quarter in the prior year, the company earned $0.77 EPS. As a group, analysts anticipate that Columbia Banking System, Inc. will post 2.74 EPS for the current year.Columbia Banking System Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 17th. Shareholders of record on Wednesday, August 3rd were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, August 2nd. This represents a $1.20 dividend on an annualized basis and a yield of 4.01%. Columbia Banking System's dividend payout ratio (DPR) is 43.17%.
Insider Buying and Selling at Columbia Banking System
In other Columbia Banking System news, Director Craig D. Eerkes purchased 1,694 shares of Columbia Banking System stock in a transaction dated Friday, June 10th. The shares were bought at an average cost of $28.52 per share, for a total transaction of $48,312.88. Following the transaction, the director now owns 20,227 shares in the company, valued at approximately $576,874.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have purchased 2,713 shares of company stock worth $74,593 in the last ninety days. 0.62% of the stock is owned by insiders.
Analysts Set New Price Targets
Separately, Raymond James decreased their target price on shares of Columbia Banking System from $38.00 to $34.00 and set an "outperform" rating for the company in a research note on Thursday, July 7th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $34.80.
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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