Amalgamated Bank increased its stake in Columbia Banking System Inc (NASDAQ:COLB) by 30.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,265 shares of the financial services provider’s stock after buying an additional 2,421 shares during the quarter. Amalgamated Bank’s holdings in Columbia Banking System were worth $446,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the company. Mengis Capital Management Inc. acquired a new stake in shares of Columbia Banking System in the fourth quarter valued at about $1,208,000. AlphaOne Investment Services LLC grew its stake in shares of Columbia Banking System by 56.2% in the fourth quarter. AlphaOne Investment Services LLC now owns 143,895 shares of the financial services provider’s stock valued at $6,251,000 after buying an additional 51,801 shares in the last quarter. Carillon Tower Advisers Inc. acquired a new stake in shares of Columbia Banking System in the fourth quarter valued at about $697,000. Eaton Vance Management grew its stake in shares of Columbia Banking System by 6.6% in the fourth quarter. Eaton Vance Management now owns 287,655 shares of the financial services provider’s stock valued at $12,496,000 after buying an additional 17,812 shares in the last quarter. Finally, State of Tennessee Treasury Department grew its stake in shares of Columbia Banking System by 12.3% in the fourth quarter. State of Tennessee Treasury Department now owns 57,474 shares of the financial services provider’s stock valued at $2,497,000 after buying an additional 6,311 shares in the last quarter. Institutional investors and hedge funds own 88.05% of the company’s stock.
COLB has been the subject of a number of recent research reports. BidaskClub upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Sandler O’Neill reiterated a “hold” rating and issued a $48.00 target price on shares of Columbia Banking System in a research note on Friday, January 26th. Zacks Investment Research lowered Columbia Banking System from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Piper Jaffray Companies reiterated a “buy” rating and issued a $53.00 target price on shares of Columbia Banking System in a research note on Tuesday, January 9th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $46.00 price target on shares of Columbia Banking System in a report on Friday, January 26th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $48.00.
In related news, CFO Clint Stein sold 2,300 shares of the stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $44.16, for a total value of $101,568.00. Following the completion of the transaction, the chief financial officer now owns 26,610 shares of the company’s stock, valued at $1,175,097.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.23% of the company’s stock.
Columbia Banking System Inc (NASDAQ COLB) opened at $44.14 on Friday. The company has a market capitalization of $3,165.50, a PE ratio of 23.23, a P/E/G ratio of 1.55 and a beta of 1.10. Columbia Banking System Inc has a 1-year low of $35.67 and a 1-year high of $48.06. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.02.
Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results 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 business had revenue of $135.40 million during the quarter, compared to analysts’ expectations of $135.15 million. Columbia Banking System had a net margin of 23.29% and a return on equity of 9.14%. The company’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 EPS. equities analysts forecast that Columbia Banking System Inc will post 2.8 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Wednesday, February 7th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date was Tuesday, February 6th. Columbia Banking System’s dividend payout ratio is currently 46.32%.
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Columbia Banking System Company 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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