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Raymond James & Associates Has $5.93 Million Stake in Columbia Banking System, Inc. (NASDAQ:COLB)

Defense World · Sep 5, 2022 04:21

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.

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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

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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.