Nordea Investment Management AB has acquired a new stake in Columbia Banking System, Inc. (NASDAQ:COLB – Get a rating) during the first trimester, Participation channel reports. The institutional investor purchased 161,649 shares of the financial services provider, valued at approximately $5,355,000.
A number of other hedge funds and other institutional investors have also recently changed their stock holdings. State Street Corp increased its stake in Columbia Banking System by 38.2% during the fourth quarter. State Street Corp now owns 4,957,374 shares of the financial services provider valued at $162,205,000 after buying an additional 1,370,893 shares last quarter. Millennium Management LLC bought a new position in Columbia Banking System in Q4 valued at approximately $35,816,000. Westwood Holdings Group Inc. increased its stake in Columbia Banking System by 45.8% in the fourth quarter. Westwood Holdings Group Inc. now owns 2,009,137 shares of the financial services provider valued at $65,739,000 after buying an additional 631,265 shares last quarter. Boston Partners acquired a new stake in Columbia Banking System in Q4 valued at approximately $17,362,000. Finally, Thrivent Financial for Lutherans increased its stake in Columbia Banking System by 36.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,810,456 shares of the financial services provider worth $59,238,000 after buying an additional 480,745 shares last quarter. 94.44% of the shares are held by institutional investors.
Separately, director Craig D. Eerkes acquired 1,694 shares of the company in a transaction dated Friday, June 10. The shares were purchased at an average cost of $28.52 per share, for a total transaction of $48,312.88. As a result of the acquisition, the administrator now owns 20,227 shares of the company, valued at approximately $576,874.04. The purchase was disclosed in a document filed with the SEC, accessible via the SEC website. Also, CFO Aaron James Cerf acquired 3,000 shares in a transaction that took place on Monday, May 2. The shares were purchased at an average cost of $28.00 per share, with a total value of $84,000.00. Following the transaction, the CFO now directly owns 15,427 shares of the company, valued at approximately $431,956. Disclosure of this purchase can be found here. 0.62% of the shares are held by insiders.
NASDAQ COLB opened at $29.19 on Monday. The company’s 50-day simple moving average is $29.31 and its 200-day simple moving average is $32.40. The company has a market capitalization of $2.30 billion, a PE ratio of 10.43 and a beta of 0.68. Columbia Banking System, Inc. has a 52-week low of $26.97 and a 52-week high of $40.78.
Colombian banking system (NASDAQ:COLB – Get a rating) last reported results on Thursday, April 21. The financial services provider reported EPS of $0.81 for the quarter, beating analyst consensus estimates of $0.66 by $0.15. Columbia Banking System had a net margin of 31.91% and a return on equity of 9.30%. The company posted revenue of $170.38 million for the quarter, versus a consensus estimate of $166.09 million. In the same period a year earlier, the company earned earnings per share of $0.73. Columbia Banking System’s quarterly revenue increased 15.8% from the same quarter last year. As a group, equity research analysts expect Columbia Banking System, Inc. to post earnings per share of 2.61 for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 18. Shareholders of record on Wednesday, May 4 received a dividend of $0.30 per share. The ex-dividend date was Tuesday, May 3. This represents an annualized dividend of $1.20 and a yield of 4.11%. Columbia Banking System’s dividend payout ratio (DPR) is 42.86%.
A number of analysts have recently released reports on the company. Raymond James lowered his price target on Columbia Banking System from $40.00 to $38.00 and gave the stock an “outperform” rating in a Friday, April 22 research note. Piper Sandler lowered her target price on shares of Columbia Banking System from $35.00 to $31.00 in a Monday, May 2 research note. Royal Bank of Canada raised its target price on Columbia Banking System shares from $35.00 to $36.00 and gave the company an ‘industry performance’ rating in a Friday, April 22 research report . To finish, StockNews.com purported coverage of Columbia Banking System stock in a Thursday, March 31, research report. They have placed a “holding” rating on the stock. Four analysts rated the stock with a hold rating and two assigned the stock a buy rating. According to MarketBeat, Columbia Banking System currently has an average rating of “Hold” and an average target price of $35.60.
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.
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