1 week Ago By ABMN Staff
Pictet Asset Management Holding SA raised its holdings in shares of Columbia Banking System, Inc. ( NASDAQ:COLB – Free Report ) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC).
The firm owned 29,220 shares of the financial services provider’s stock after buying an additional 2,417 shares during the period. Pictet Asset Management Holding SA’s holdings in Columbia Banking System were worth $789,000 at the end of the most recent reporting period. A number of other hedge funds have also recently modified their holdings of COLB.
Verition Fund Management LLC grew its position in Columbia Banking System by 135.1% in the 3rd quarter. Verition Fund Management LLC now owns 29,445 shares of the financial services provider’s stock valued at $769,000 after acquiring an additional 16,921 shares during the last quarter.
HighTower Advisors LLC bought a new position in shares of Columbia Banking System in the third quarter worth about $352,000. Weiss Asset Management LP bought a new position in shares of Columbia Banking System in the third quarter worth about $484,000. Wellington Management Group LLP lifted its holdings in Columbia Banking System by 31.
9% during the 3rd quarter. Wellington Management Group LLP now owns 6,659,255 shares of the financial services provider’s stock valued at $173,873,000 after buying an additional 1,611,563 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in Columbia Banking System by 219.
3% during the 3rd quarter. Jane Street Group LLC now owns 212,889 shares of the financial services provider’s stock valued at $5,559,000 after buying an additional 146,219 shares in the last quarter. Institutional investors own 92.
53% of the company’s stock. Analysts Set New Price Targets COLB has been the topic of a number of research reports. Wells Fargo & Company raised shares of Columbia Banking System from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $33.
00 to $35.00 in a research report on Monday, January 6th. Citigroup decreased their target price on Columbia Banking System from $31.
00 to $30.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. JPMorgan Chase & Co.
dropped their price target on Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th.
UBS Group began coverage on Columbia Banking System in a report on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 price objective for the company.
Finally, Keefe, Bruyette & Woods dropped their target price on shares of Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating on the stock in a report on Friday, January 24th.
Nine 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 currently has an average rating of “Hold” and a consensus target price of $31.
25. Insider Activity In other Columbia Banking System news, VP Torran B. Nixon sold 4,481 shares of Columbia Banking System stock in a transaction dated Tuesday, March 4th.
The stock was sold at an average price of $25.99, for a total transaction of $116,461.19.
Following the completion of the sale, the vice president now owns 104,869 shares of the company’s stock, valued at approximately $2,725,545.31. The trade was a 4.
10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link . Corporate insiders own 0.
62% of the company’s stock. Columbia Banking System Price Performance Columbia Banking System stock opened at $20.98 on Tuesday.
Columbia Banking System, Inc. has a 1-year low of $17.08 and a 1-year high of $32.
85. The business has a fifty day moving average price of $25.91 and a 200-day moving average price of $27.
45. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of 8.
26 and a beta of 0.53. Columbia Banking System ( NASDAQ:COLB – Get Free Report ) last issued its quarterly earnings results on Thursday, January 23rd.
The financial services provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.
06. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.
99%. On average, equities research analysts anticipate that Columbia Banking System, Inc. will post 2.
71 earnings per share for the current fiscal year. Columbia Banking System Announces Dividend The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a $0.
36 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.
44 dividend on an annualized basis and a dividend yield of 6.86%. Columbia Banking System’s dividend payout ratio is currently 56.
69%. About Columbia Banking System ( 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.
Read More Want to see what other hedge funds are holding COLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Columbia Banking System, Inc. ( NASDAQ:COLB – Free Report ).
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