Naples Global Advisors LLC trimmed its holdings in Columbia Banking System Inc (NASDAQ:COLB) by 2.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 22,522 shares of the financial services provider’s stock after selling 643 shares during the period. Naples Global Advisors LLC’s holdings in Columbia Banking System were worth $736,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Advisor Group Inc. raised its holdings in Columbia Banking System by 9.2% during the fourth quarter. Advisor Group Inc. now owns 3,645 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 307 shares in the last quarter. State of Alaska Department of Revenue grew its position in Columbia Banking System by 1.5% during the fourth quarter. State of Alaska Department of Revenue now owns 24,482 shares of the financial services provider’s stock worth $888,000 after buying an additional 355 shares during the period. Piedmont Investment Advisors Inc. grew its position in Columbia Banking System by 3.3% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 17,431 shares of the financial services provider’s stock worth $633,000 after buying an additional 551 shares during the period. Versant Capital Management Inc grew its position in Columbia Banking System by 51.4% during the first quarter. Versant Capital Management Inc now owns 1,684 shares of the financial services provider’s stock worth $55,000 after buying an additional 572 shares during the period. Finally, Bank of Montreal Can grew its position in Columbia Banking System by 2.9% during the fourth quarter. Bank of Montreal Can now owns 21,774 shares of the financial services provider’s stock worth $789,000 after buying an additional 617 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.
COLB traded down $0.24 during trading hours on Wednesday, reaching $35.70. 182,327 shares of the stock traded hands, compared to its average volume of 366,673. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 1.99 and a beta of 1.03. Columbia Banking System Inc has a fifty-two week low of $30.65 and a fifty-two week high of $44.73. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19.
Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The company had revenue of $142.72 million during the quarter, compared to analyst estimates of $147.05 million. Columbia Banking System had a net margin of 30.12% and a return on equity of 9.01%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the business earned $0.55 EPS. On average, analysts forecast that Columbia Banking System Inc will post 2.55 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Tuesday, May 7th. Columbia Banking System’s dividend payout ratio (DPR) is presently 45.34%.
In other news, COO Clint Stein sold 657 shares of Columbia Banking System stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $38.32, for a total value of $25,176.24. Following the completion of the transaction, the chief operating officer now directly owns 24,644 shares of the company’s stock, valued at approximately $944,358.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.92% of the company’s stock.
COLB has been the topic of several recent analyst reports. ValuEngine lowered shares of Columbia Banking System from a “hold” rating to a “sell” rating in a research report on Thursday, February 14th. BidaskClub lowered shares of Columbia Banking System from a “hold” rating to a “sell” rating in a research report on Saturday, March 9th. Stephens began coverage on shares of Columbia Banking System in a research report on Wednesday, March 6th. They issued an “equal weight” rating and a $39.00 price target on the stock. DA Davidson lowered shares of Columbia Banking System from a “buy” rating to a “neutral” rating and lowered their price target for the company from $42.00 to $38.00 in a research report on Monday, March 18th. Finally, Zacks Investment Research upgraded shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Friday, March 29th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Columbia Banking System presently has an average rating of “Buy” and a consensus price target of $42.33.
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About Columbia Banking System
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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