Raymond James & Associates decreased its position in Columbia Banking System, Inc. (NASDAQ:COLB – Get Rating) by 4.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 188,002 shares of the financial services provider’s stock after selling 8,840 shares during the quarter. Raymond James & Associates’ holdings in Columbia Banking System were worth $5,664,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in COLB. IFP Advisors Inc raised its holdings in Columbia Banking System by 203.2% during the fourth quarter. IFP Advisors Inc now owns 473 shares of the financial services provider’s stock valued at $28,000 after buying an additional 317 shares in the last quarter. Covestor Ltd increased its holdings in shares of Columbia Banking System by 178.9% during the 1st quarter. Covestor Ltd now owns 2,421 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 1,553 shares during the last quarter. Systematic Financial Management LP bought a new position in shares of Columbia Banking System in the 3rd quarter valued at approximately $131,000. FourThought Financial LLC lifted its holdings in Columbia Banking System by 11.1% in the 3rd quarter. FourThought Financial LLC now owns 5,150 shares of the financial services provider’s stock worth $149,000 after purchasing an additional 514 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Columbia Banking System by 26.7% during the first quarter. PNC Financial Services Group Inc. now owns 5,310 shares of the financial services provider’s stock worth $171,000 after purchasing an additional 1,120 shares during the period.
Columbia Banking System Trading Down 2.9 %
Shares of NASDAQ COLB opened at $20.49 on Monday. Columbia Banking System, Inc. has a one year low of $17.54 and a one year high of $35.53. The business has a fifty day simple moving average of $20.87 and a 200 day simple moving average of $27.40. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of 8.65 and a beta of 0.67.
Columbia Banking System Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 7.03%. This is an increase from Columbia Banking System’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, May 30th. Columbia Banking System’s payout ratio is presently 50.63%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on COLB shares. Keefe, Bruyette & Woods raised shares of Columbia Banking System from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $36.00 to $29.00 in a research report on Wednesday, April 5th. Piper Sandler cut their target price on shares of Columbia Banking System from $32.00 to $29.00 in a research report on Wednesday, May 3rd. Raymond James raised Columbia Banking System from an “outperform” rating to a “strong-buy” rating and lowered their price target for the company from $34.00 to $28.00 in a research report on Thursday, April 6th. StockNews.com started coverage on Columbia Banking System in a research report on Thursday. They set a “sell” rating for the company. Finally, Wedbush increased their target price on Columbia Banking System from $23.00 to $24.00 in a research note on Friday, April 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $28.44.
Columbia Banking System Company Profile
Columbia Banking System, Inc is a bank holding company, which engages in the provision of financial services. It offers its services to small and medium-sized businesses, professionals, and individuals. It operates through the Washington, Oregon, Idaho, and California geographical segments. The company was founded in 1993 and is headquartered in Tacoma, WA.
- Get a free copy of the StockNews.com research report on Columbia Banking System (COLB)
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