Columbia Banking System, Inc. (NASDAQ:COLB) Stock sold by Principal Financial Group Inc.

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Principal Financial Group Inc. reduced its stake in Columbia Banking System, Inc. (NASDAQ:COLBGet a rating) by 0.9% in Q1, according to the company in its latest 13F filing with the Securities and Exchange Commission. The institutional investor held 519,539 shares of the financial services provider after selling 4,726 shares during the period. Principal Financial Group Inc. owned approximately 0.66% of Columbia Banking System worth $16,765,000 at the end of the most recent reporting period.

Several other large investors have also recently changed their stakes in the company. The Swiss National Bank increased its stake in shares of Columbia Banking System by 7.2% in the first quarter. The Swiss National Bank now owns 185,707 shares of the financial services provider valued at $5,993,000 after acquiring an additional 12,400 shares last quarter. Teacher Retirement System of Texas increased its stake in shares of Columbia Banking System by 7.1% during the first quarter. Teacher Retirement System of Texas now owns 16,248 shares of the financial services provider valued at $524,000 after acquiring 1,081 additional shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Columbia Banking System during the first quarter worth approximately $3,187,000. IndexIQ Advisors LLC acquired a new stake in shares of Columbia Banking System during the first quarter worth approximately $387,000. Finally, Aigen Investment Management LP acquired a new equity stake in Columbia Banking System during the first quarter valued at approximately $338,000. 94.44% of the shares are currently held by institutional investors and hedge funds.

Analyst upgrades and downgrades

COLB has been the subject of a number of research reports. Raymond James cut his price target on Columbia Banking System from $38.00 to $34.00 and set an “outperform” rating for the company in a Thursday, July 7 research note. Piper Sandler reduced her price target on Columbia Banking System from $35.00 to $31.00 in a Monday, May 2 research note. Four research analysts gave the stock a hold rating and two gave the company a buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $34.80.

Columbia’s banking system stock down 0.7%

Shares of NASDAQ COLB opened at $32.09 on Friday. The company’s 50-day moving average price is $29.62 and its two-hundred-day moving average price is $31.26. Columbia Banking System, Inc. has a 52-week low of $26.97 and a 52-week high of $40.78. The stock has a market capitalization of $2.52 billion, a P/E ratio of 11.54 and a beta of 0.67.

Colombian banking system (NASDAQ:COLBGet a rating) last reported results on Thursday, July 21. The financial services provider reported earnings per share (EPS) of $0.75 for the quarter, missing analyst consensus estimates of $0.77 per ($0.02). Columbia Banking System had a return on equity of 9.68% and a net margin of 31.28%. In the same quarter a year earlier, the company posted earnings per share of $0.77. As a group, equity research analysts expect Columbia Banking System, Inc. to post earnings per share of 2.74 for the current year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 17. Shareholders of record on Wednesday August 3 received a dividend of $0.30. The ex-dividend date was Tuesday, August 2. This represents a dividend of $1.20 on an annualized basis and a yield of 3.74%. Columbia Banking System’s dividend payout ratio is currently 43.17%.

Insiders place their bets

In other news from the Columbia Banking System, Director Craig D. Eerkes purchased 1,694 shares of the company in a trade dated Friday, June 10. The shares were purchased at an average price of $28.52 per share, with a total value of $48,312.88. Following the completion of the acquisition, the administrator now owns 20,227 shares of the company, valued at approximately $576,874.04. The acquisition was disclosed in a filing with the SEC, accessible via this hyperlink. Insiders acquired 2,713 shares of the company valued at $74,593 during the last quarter. Insiders own 0.62% of the shares of the company.

Columbia Banking System Company Profile

(Get a rating)

Columbia Banking System, Inc operates as a bank holding company for Columbia State Bank which provides a range of banking services to small and medium businesses, professionals and individuals in the United States. It offers personal banking products and services, including interest-free and interest-bearing checks, savings accounts, money market and certificates of deposit; home mortgages for purchases and refinances, home equity loans and lines of credit and other personal loans; debit and credit cards; and digital banking.

See also

Want to see what other hedge funds hold COLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Columbia Banking System, Inc. (NASDAQ:COLBGet a rating).

Institutional ownership by quarter for Columbia Banking System (NASDAQ:COLB)



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