Columbia Banking System Inc (COLB) Stake Raised by Nationwide Fund Advisors
Nationwide Fund Advisors raised its position in Columbia Banking System Inc (NASDAQ:COLB) by 2.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 88,645 shares of the financial services provider’s stock after buying an additional 2,534 shares during the period. Nationwide Fund Advisors’ holdings in Columbia Banking System were worth $3,456,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the company. Elkfork Partners LLC acquired a new stake in shares of Columbia Banking System during the fourth quarter worth about $188,000. A.R.T. Advisors LLC acquired a new stake in shares of Columbia Banking System during the fourth quarter worth about $221,000. Bienville Capital Management LLC acquired a new stake in shares of Columbia Banking System during the fourth quarter worth about $232,000. Tudor Investment Corp Et Al acquired a new stake in shares of Columbia Banking System during the fourth quarter worth about $244,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Columbia Banking System during the fourth quarter worth about $248,000. 91.28% of the stock is owned by hedge funds and other institutional investors.
Columbia Banking System Inc (NASDAQ:COLB) opened at 38.09 on Friday. The firm has a 50-day moving average price of $38.91 and a 200 day moving average price of $40.13. Columbia Banking System Inc has a 52-week low of $26.17 and a 52-week high of $45.68. The firm has a market capitalization of $2.22 billion, a P/E ratio of 19.63 and a beta of 1.32.
Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, April 27th. The financial services provider reported $0.50 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. The company had revenue of $111.53 million during the quarter, compared to analyst estimates of $110.72 million. Columbia Banking System had a return on equity of 8.44% and a net margin of 24.61%. During the same period in the prior year, the firm posted $0.40 earnings per share. Analysts forecast that Columbia Banking System Inc will post $2.05 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 24th. Shareholders of record on Wednesday, May 10th were paid a dividend of $0.22 per share. The ex-dividend date was Monday, May 8th. This represents a $0.88 annualized dividend and a yield of 2.31%. Columbia Banking System’s dividend payout ratio is presently 48.62%.
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A number of brokerages recently issued reports on COLB. Royal Bank of Canada reissued a “hold” rating and set a $44.00 price objective on shares of Columbia Banking System in a research report on Tuesday, May 9th. Zacks Investment Research downgraded Columbia Banking System from a “buy” rating to a “hold” rating in a research report on Tuesday, March 14th. DA Davidson raised Columbia Banking System from a “neutral” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Thursday, March 16th. Finally, Piper Jaffray Companies cut their price objective on Columbia Banking System from $43.00 to $41.00 and set a “neutral” rating for the company in a research report on Monday, April 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $41.20.
In other Columbia Banking System news, CAO Barry Ray sold 981 shares of the company’s stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $39.42, for a total transaction of $38,671.02. Following the completion of the sale, the chief accounting officer now directly owns 12,000 shares in the company, valued at $473,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.07% of the company’s stock.
About Columbia Banking System
Columbia Banking System, Inc (Columbia) is a bank holding company for Columbia State Bank (the Bank) and Columbia Trust Company (Columbia Trust). The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals. It offers products and services, which include Personal Banking, Business Banking and Wealth Management.
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