A.R.T. Advisors LLC acquired a new stake in shares of Columbia Banking System Inc (NASDAQ:COLB) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 4,956 shares of the financial services provider’s stock, valued at approximately $221,000.
Several other large investors have also recently bought and sold shares of the stock. Elkfork Partners LLC purchased a new stake in Columbia Banking System during the fourth quarter valued at about $188,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Columbia Banking System during the fourth quarter valued at about $248,000. Yorktown Management & Research Co Inc purchased a new stake in Columbia Banking System during the third quarter valued at about $203,000. 1st Global Advisors Inc. purchased a new stake in Columbia Banking System during the third quarter valued at about $209,000. Finally, Neuberger Berman Group LLC purchased a new stake in Columbia Banking System during the third quarter valued at about $219,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.
Shares of Columbia Banking System Inc (NASDAQ:COLB) opened at 39.41 on Tuesday. The company has a 50 day moving average price of $39.92 and a 200 day moving average price of $38.01. The stock has a market cap of $2.29 billion, a P/E ratio of 21.81 and a beta of 1.32. Columbia Banking System Inc has a 12-month low of $26.17 and a 12-month high of $45.68.
Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, January 26th. The financial services provider reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. The firm had revenue of $108.07 million for the quarter, compared to analysts’ expectations of $111.40 million. Columbia Banking System had a return on equity of 8.44% and a net margin of 24.61%. Columbia Banking System’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.46 EPS. Analysts anticipate that Columbia Banking System Inc will post $2.00 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 22nd. Shareholders of record on Wednesday, February 8th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Monday, February 6th. This is a boost from Columbia Banking System’s previous quarterly dividend of $0.20. Columbia Banking System’s dividend payout ratio is 48.62%.
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Several equities research analysts recently issued reports on the company. DA Davidson upgraded Columbia Banking System from a “neutral” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Thursday, March 16th. Zacks Investment Research downgraded Columbia Banking System from a “buy” rating to a “hold” rating in a report on Tuesday, March 14th.
In other Columbia Banking System news, CAO Barry Ray sold 981 shares of the stock in a transaction on Friday, March 10th. The stock was sold at an average price of $39.42, for a total transaction of $38,671.02. Following the sale, the chief accounting officer now owns 12,000 shares in the company, valued at approximately $473,040. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.07% of the stock is currently owned by corporate insiders.
About Columbia Banking System
Columbia Banking System, Inc is a bank holding company of Columbia State Bank (the Bank) and West Coast Trust Company, Inc The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals throughout Washington, Oregon and Idaho. The Bank provides a range of financial services through approximately 150 branch locations in Washington, Oregon and Idaho.
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