Xact Kapitalforvaltning AB lessened its position in shares of Columbia Banking System Inc (NASDAQ:COLB) by 31.2% during the 1st quarter, Holdings Channel reports. The firm owned 10,588 shares of the financial services provider’s stock after selling 4,800 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in Columbia Banking System were worth $346,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Toronto Dominion Bank purchased a new stake in Columbia Banking System during the 4th quarter valued at about $25,000. Quantamental Technologies LLC acquired a new position in shares of Columbia Banking System in the 1st quarter valued at about $32,000. Versant Capital Management Inc lifted its holdings in shares of Columbia Banking System by 51.4% in the 1st quarter. Versant Capital Management Inc now owns 1,684 shares of the financial services provider’s stock valued at $55,000 after buying an additional 572 shares during the period. Advisor Group Inc. lifted its holdings in shares of Columbia Banking System by 9.2% in the 4th quarter. Advisor Group Inc. now owns 3,645 shares of the financial services provider’s stock valued at $132,000 after buying an additional 307 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Columbia Banking System by 18.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,896 shares of the financial services provider’s stock valued at $179,000 after buying an additional 757 shares during the period. Institutional investors and hedge funds own 90.23% of the company’s stock.
Several brokerages have recently issued reports on COLB. Zacks Investment Research raised Columbia Banking System from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th. BidaskClub cut Columbia Banking System from a “buy” rating to a “hold” rating in a report on Friday, May 24th. ValuEngine raised Columbia Banking System from a “sell” rating to a “hold” rating in a report on Saturday, May 4th. DA Davidson cut Columbia Banking System from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $42.00 to $38.00 in a report on Monday, March 18th. Finally, Stephens began coverage on Columbia Banking System in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $39.00 price objective for the company. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $42.33.
In other news, EVP Andy Mcdonald sold 3,481 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $35.06, for a total value of $122,043.86. Following the completion of the transaction, the executive vice president now owns 36,264 shares of the company’s stock, valued at approximately $1,271,415.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.92% of the company’s stock.
Shares of COLB stock opened at $35.29 on Friday. The stock has a market capitalization of $2.59 billion, a PE ratio of 14.18, a P/E/G ratio of 1.97 and a beta of 1.08. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.19. Columbia Banking System Inc has a 52-week low of $30.65 and a 52-week high of $43.92.
Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The business had revenue of $142.72 million during the quarter, compared to analysts’ expectations of $147.05 million. Columbia Banking System had a return on equity of 9.01% and a net margin of 30.12%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 EPS. As a group, equities research analysts expect that Columbia Banking System Inc will post 2.55 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were issued a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $1.12 annualized dividend and a dividend yield of 3.17%. Columbia Banking System’s dividend payout ratio (DPR) is presently 45.34%.
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Columbia Banking System Company Profile
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 Washington, Oregon, and Idaho. It offers personal banking products and services, including noninterest and interest-bearing checking, saving, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and personal loans; debit and credit cards; and digital banking services.
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