Oregon Public Employees Retirement Fund reduced its stake in Columbia Banking System, Inc. (NASDAQ:COLB – Get a rating) by 1.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund held 29,407 shares of the financial services provider after selling 391 shares during the quarter. The Oregon Public Employees Retirement Fund’s holdings in Columbia Banking System were worth $949,000 when it was last filed with the Securities & Exchange Commission.
Several other hedge funds also changed their positions in the stock. Earnest Partners LLC purchased a new stock position in Columbia Banking System during Q4 for $27,000. Covestor Ltd bought a new position in shares of Columbia Banking System during the 4th quarter for a value of $28,000. Pinebridge Investments LP acquired a new stake in Columbia Banking System during the 4th quarter at a value of $69,000. Point72 Hong Kong Ltd acquired a new stake in Columbia Banking System during Q4, valued at $139,000. Finally, Crossmark Global Holdings Inc. increased its position in Columbia Banking System shares by 14.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 6,700 shares of the financial services provider worth $219,000 after purchasing an additional 850 shares during the period. Institutional investors hold 94.44% of the company’s shares.
A number of brokerages have recently released reports on COLB. Raymond James lowered his price target on Columbia Banking System shares from $38.00 to $34.00 and set an “outperform” rating for the company in a Thursday, July 7 research report. Piper Sandler cut her price target on Columbia Banking System stock from $35.00 to $31.00 in a Monday, May 2 research note. Royal Bank of Canada raised its price target on Columbia Banking System shares from $35.00 to $36.00 and gave the company an “industry performance” rating in a Friday, April 22 report. To finish, StockNews.com launched a hedge on Columbia Banking System shares in a Thursday, March 31 report. They issued a “holding” rating on the stock. Four investment analysts gave the stock a hold rating and two gave the company a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $34.80.
In other news from Columbia’s banking system, Chief Financial Officer Aaron James Cerf bought 3,000 shares of the company in a transaction that took place on Monday, May 2. The shares were purchased at an average price of $28.00 per share, for a total transaction of $84,000.00. Following the completion of the acquisition, the CFO now owns 15,427 shares of the company, valued at approximately $431,956. The purchase was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, director Craig D. Eerkes purchased 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, with a total value of $48,312.88. As a result of the transaction, the administrator now directly owns 20,227 shares of the company, valued at approximately $576,874.04. Disclosure of this purchase can be found here. Over the past ninety days, insiders have acquired 5,713 shares of the company valued at $158,593. 0.62% of the shares are currently held by company insiders.
COLB opened at $28.48 on Thursday. Columbia Banking System, Inc. has a 52-week low of $26.97 and a 52-week high of $40.78. The company’s 50-day moving average price is $29.03 and its 200-day moving average price is $32.11. The company has a market capitalization of $2.24 billion, a P/E ratio of 10.17 and a beta of 0.67.
Colombian banking system (NASDAQ:COLB – Get a rating) last released its quarterly earnings data 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 $166.09 million expected by analysts. In the same quarter last year, the company achieved EPS of $0.73. The company’s revenue increased 15.8% year over year. On average, research analysts expect Columbia Banking System, Inc. to post EPS of 2.63 for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 18. Investors of record on Wednesday, May 4 received a dividend of $0.30 per share. This represents a dividend of $1.20 on an annualized basis and a dividend yield of 4.21%. The ex-dividend date was Tuesday, May 3. Columbia Banking System’s payout rate is 42.86%.
Columbia Banking System 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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