KBC Group NV Has $245,000 Stock Position in Columbia Banking System, Inc. (NASDAQ:COLB)

KBC Group NV trimmed its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 91.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,821 shares of the financial services provider's stock after selling 109,728 shares during the period. KBC Group NV's holdings in Columbia Banking System were worth $245,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new position in Columbia Banking System during the fourth quarter valued at about $29,000. SBI Securities Co. Ltd. acquired a new stake in shares of Columbia Banking System in the fourth quarter valued at about $32,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Columbia Banking System in the fourth quarter valued at about $42,000. Meeder Asset Management Inc. acquired a new stake in shares of Columbia Banking System in the fourth quarter valued at about $42,000. Finally, UMB Bank n.a. grew its position in shares of Columbia Banking System by 141.3% in the first quarter. UMB Bank n.a. now owns 1,636 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 958 shares during the last quarter. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Columbia Banking System Price Performance

Shares of COLB traded down $0.07 on Wednesday, hitting $25.07. The company's stock had a trading volume of 2,043,832 shares, compared to its average volume of 1,821,940. The company has a market capitalization of $5.27 billion, a PE ratio of 10.62 and a beta of 0.62. Columbia Banking System, Inc. has a fifty-two week low of $19.61 and a fifty-two week high of $32.85. The company has a 50 day moving average price of $23.83 and a 200 day moving average price of $24.99.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.63 by $0.04. The business had revenue of $481.92 million for the quarter, compared to the consensus estimate of $482.86 million. Columbia Banking System had a return on equity of 11.12% and a net margin of 16.85%. Columbia Banking System's revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 EPS. On average, equities analysts forecast that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 5.74%. The ex-dividend date of this dividend was Friday, May 30th. Columbia Banking System's dividend payout ratio (DPR) is presently 61.02%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Raymond James Financial set a $27.00 price target on Columbia Banking System and gave the company an "outperform" rating in a research report on Thursday, April 24th. Wall Street Zen started coverage on Columbia Banking System in a research report on Thursday, May 22nd. They set a "hold" rating on the stock. Wells Fargo & Company lifted their target price on Columbia Banking System from $26.00 to $29.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. decreased their target price on Columbia Banking System from $26.50 to $24.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 1st. Finally, Jefferies Financial Group started coverage on Columbia Banking System in a research report on Wednesday, May 21st. They set a "hold" rating and a $27.00 target price on the stock. Eleven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $28.93.

Columbia Banking System Company Profile

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.