Columbia Banking System, Inc. (COLB) Shares Sold by Keybank National Association OH
Keybank National Association OH trimmed its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 15.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 45,100 shares of the financial services provider’s stock after selling 8,300 shares during the period. Keybank National Association OH owned approximately 0.08% of Columbia Banking System worth $1,899,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of COLB. AMG National Trust Bank grew its holdings in Columbia Banking System by 26.5% during the third quarter. AMG National Trust Bank now owns 26,267 shares of the financial services provider’s stock worth $1,106,000 after acquiring an additional 5,498 shares during the period. Crossmark Global Holdings Inc. acquired a new position in Columbia Banking System during the third quarter worth about $416,000. Fox Run Management L.L.C. acquired a new position in Columbia Banking System during the third quarter worth about $518,000. Piedmont Investment Advisors LLC acquired a new position in Columbia Banking System during the second quarter worth about $503,000. Finally, Westwood Holdings Group Inc. grew its holdings in Columbia Banking System by 34.0% during the second quarter. Westwood Holdings Group Inc. now owns 506,677 shares of the financial services provider’s stock worth $20,191,000 after acquiring an additional 128,587 shares during the period. 95.60% of the stock is currently owned by institutional investors.
Columbia Banking System, Inc. (NASDAQ COLB) opened at $42.27 on Friday. The firm has a market capitalization of $3,086.51, a PE ratio of 19.21, a P/E/G ratio of 1.92 and a beta of 1.24. Columbia Banking System, Inc. has a 12 month low of $35.67 and a 12 month high of $45.68.
Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.18. The firm had revenue of $126.00 million for the quarter, compared to analysts’ expectations of $119.16 million. Columbia Banking System had a return on equity of 9.93% and a net margin of 27.72%. Columbia Banking System’s revenue was up 16.9% on a year-over-year basis. During the same quarter last year, the business posted $0.47 EPS. sell-side analysts anticipate that Columbia Banking System, Inc. will post 2.2 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st will be paid a $0.22 dividend. The ex-dividend date is Monday, October 30th. This represents a $0.88 dividend on an annualized basis and a yield of 2.08%. Columbia Banking System’s dividend payout ratio is currently 40.00%.
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A number of research analysts recently issued reports on COLB shares. Zacks Investment Research raised Columbia Banking System from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub lowered Columbia Banking System from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Piper Jaffray Companies raised Columbia Banking System from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $43.00 to $46.00 in a report on Monday, July 31st. Finally, DA Davidson reaffirmed a “buy” rating and set a $48.00 target price (up from $45.00) on shares of Columbia Banking System in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $45.60.
Columbia Banking System Company Profile
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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