Keeley Teton Advisors LLC boosted its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 2.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 367,599 shares of the financial services provider's stock after purchasing an additional 10,335 shares during the period. Columbia Banking System makes up approximately 1.1% of Keeley Teton Advisors LLC's portfolio, making the stock its 6th biggest holding. Keeley Teton Advisors LLC owned 0.17% of Columbia Banking System worth $9,168,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Columbia Banking System during the 1st quarter worth about $37,000. UMB Bank n.a. boosted its stake in shares of Columbia Banking System by 141.3% during the 1st quarter. UMB Bank n.a. now owns 1,636 shares of the financial services provider's stock worth $41,000 after acquiring an additional 958 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of Columbia Banking System during the 4th quarter worth about $42,000. Financial Harvest LLC purchased a new stake in shares of Columbia Banking System during the 1st quarter worth about $53,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Columbia Banking System during the 1st quarter worth about $95,000. 92.53% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
COLB has been the topic of several recent analyst reports. Stephens raised shares of Columbia Banking System from an "equal weight" rating to an "overweight" rating and set a $30.00 target price on the stock in a research note on Monday, August 4th. Citigroup reissued a "neutral" rating and set a $26.00 target price (up from $22.00) on shares of Columbia Banking System in a research note on Monday, July 28th. JPMorgan Chase & Co. lowered their target price on shares of Columbia Banking System from $26.50 to $24.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 1st. DA Davidson increased their target price on shares of Columbia Banking System from $25.00 to $26.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. Finally, Wall Street Zen began coverage on shares of Columbia Banking System in a research note on Thursday, May 22nd. They set a "hold" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $28.86.
Get Our Latest Research Report on Columbia Banking System
Columbia Banking System Price Performance
Columbia Banking System stock traded down $0.33 during midday trading on Friday, reaching $26.77. The company had a trading volume of 17,287,397 shares, compared to its average volume of 2,835,593. The company has a market capitalization of $5.63 billion, a P/E ratio of 10.62 and a beta of 0.62. Columbia Banking System, Inc. has a 12-month low of $19.61 and a 12-month high of $32.85. The firm's fifty day simple moving average is $24.78 and its 200-day simple moving average is $24.30.
Columbia Banking System (NASDAQ:COLB - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.76 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.10. The company had revenue of $511.55 million during the quarter, compared to the consensus estimate of $492.00 million. Columbia Banking System had a net margin of 17.98% and a return on equity of 11.31%. Columbia Banking System's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.67 EPS. On average, analysts expect that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.
Columbia Banking System Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a $0.36 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.44 dividend on an annualized basis and a yield of 5.4%. Columbia Banking System's dividend payout ratio is presently 57.14%.
Columbia Banking System Profile
(
Free Report)
Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.
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