BSW Wealth Partners Purchases Shares of 26,877 Columbia Banking System Inc (COLB)
BSW Wealth Partners purchased a new position in shares of Columbia Banking System Inc (NASDAQ:COLB) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 26,877 shares of the financial services provider’s stock, valued at approximately $1,168,000. Columbia Banking System accounts for 0.5% of BSW Wealth Partners’ portfolio, making the stock its 24th largest position.
A number of other institutional investors have also made changes to their positions in COLB. Wedge Capital Management L L P NC purchased a new stake in Columbia Banking System during the 4th quarter worth $12,128,000. Assenagon Asset Management S.A. purchased a new stake in Columbia Banking System during the 4th quarter worth $9,700,000. Granite Investment Partners LLC boosted its position in Columbia Banking System by 71.6% during the 3rd quarter. Granite Investment Partners LLC now owns 336,216 shares of the financial services provider’s stock worth $14,158,000 after purchasing an additional 140,315 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Columbia Banking System by 24.4% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 520,607 shares of the financial services provider’s stock worth $22,616,000 after purchasing an additional 102,183 shares during the period. Finally, Chicago Equity Partners LLC purchased a new stake in Columbia Banking System during the 4th quarter worth $3,698,000. 76.73% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on the stock. BidaskClub cut shares of Columbia Banking System from a “sell” rating to a “strong sell” rating in a research report on Wednesday, January 31st. Piper Jaffray Companies set a $52.00 price objective on shares of Columbia Banking System and gave the company a “buy” rating in a research report on Tuesday, January 30th. Royal Bank of Canada reissued a “hold” rating and issued a $46.00 price objective on shares of Columbia Banking System in a research report on Friday, January 26th. DA Davidson reissued a “buy” rating and issued a $48.00 price objective (up from $45.00) on shares of Columbia Banking System in a research report on Tuesday, October 17th. Finally, Sandler O’Neill reissued a “hold” rating and issued a $48.00 price objective on shares of Columbia Banking System in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Columbia Banking System presently has a consensus rating of “Hold” and a consensus price target of $48.00.
Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). The firm had revenue of $135.40 million during the quarter, compared to analysts’ expectations of $135.15 million. Columbia Banking System had a net margin of 23.29% and a return on equity of 9.14%. The business’s quarterly revenue was up 25.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 earnings per share. equities research analysts predict that Columbia Banking System Inc will post 2.8 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 7th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.12%. Columbia Banking System’s dividend payout ratio (DPR) is presently 40.00%.
In other news, CAO Barry Ray sold 750 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $46.87, for a total value of $35,152.50. Following the sale, the chief accounting officer now owns 11,250 shares in the company, valued at approximately $527,287.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.23% of the company’s stock.
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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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