AlphaOne Investment Services LLC increased its holdings in shares of Columbia Banking System Inc (NASDAQ:COLB) by 56.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 143,895 shares of the financial services provider’s stock after buying an additional 51,801 shares during the quarter. Columbia Banking System comprises approximately 1.9% of AlphaOne Investment Services LLC’s portfolio, making the stock its 13th biggest holding. AlphaOne Investment Services LLC’s holdings in Columbia Banking System were worth $6,251,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in COLB. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Columbia Banking System by 79.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,343 shares of the financial services provider’s stock worth $145,000 after buying an additional 1,476 shares during the period. Meeder Asset Management Inc. purchased a new position in Columbia Banking System during the fourth quarter worth about $178,000. Teacher Retirement System of Texas purchased a new position in Columbia Banking System during the third quarter worth about $202,000. Janney Montgomery Scott LLC purchased a new position in Columbia Banking System during the third quarter worth about $204,000. Finally, Yellowstone Partners LLC purchased a new position in Columbia Banking System during the third quarter worth about $224,000. Hedge funds and other institutional investors own 81.94% of the company’s stock.
Several equities analysts recently weighed in on the company. BidaskClub downgraded Columbia Banking System from a “sell” rating to a “strong sell” rating in a research report on Wednesday, January 31st. Piper Jaffray Companies set a $52.00 target price on Columbia Banking System and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Sandler O’Neill reiterated a “hold” rating and set a $48.00 target price on shares of Columbia Banking System in a research report on Friday, January 26th. Royal Bank of Canada reiterated a “hold” rating and set a $46.00 target price on shares of Columbia Banking System in a research report on Friday, January 26th. Finally, Zacks Investment Research upgraded Columbia Banking System from a “sell” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Columbia Banking System has a consensus rating of “Hold” and a consensus target price of $48.00.
Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). The firm had revenue of $135.40 million during the quarter, compared to analysts’ expectations of $135.15 million. Columbia Banking System had a return on equity of 9.14% and a net margin of 23.29%. The business’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.53 earnings per share. equities research analysts anticipate that Columbia Banking System Inc will post 2.8 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 7th were issued a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.06%. Columbia Banking System’s dividend payout ratio (DPR) is 46.32%.
In other news, CAO Barry Ray sold 750 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $46.87, for a total value of $35,152.50. Following the transaction, the chief accounting officer now directly owns 11,250 shares in the company, valued at approximately $527,287.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.23% of the company’s stock.
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Columbia Banking System Profile
Columbia Banking System, Inc (Columbia) is a bank holding company for Columbia State Bank (the Bank) and Columbia Trust Company (Columbia Trust). The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals. It offers products and services, which include Personal Banking, Business Banking and Wealth Management.
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