IronBridge Capital Management LP lowered its stake in Columbia Banking System Inc (NASDAQ:COLB) by 21.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 269,227 shares of the financial services provider’s stock after selling 74,286 shares during the period. IronBridge Capital Management LP owned about 0.46% of Columbia Banking System worth $10,497,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of COLB. Russell Investments Group Ltd. bought a new position in Columbia Banking System during the fourth quarter valued at approximately $25,971,000. Norges Bank bought a new position in Columbia Banking System during the fourth quarter valued at approximately $18,717,000. Perkins Investment Management LLC raised its position in Columbia Banking System by 37.2% in the third quarter. Perkins Investment Management LLC now owns 1,348,494 shares of the financial services provider’s stock valued at $44,123,000 after buying an additional 365,377 shares in the last quarter. State Street Corp raised its position in Columbia Banking System by 11.4% in the fourth quarter. State Street Corp now owns 1,575,179 shares of the financial services provider’s stock valued at $70,384,000 after buying an additional 161,418 shares in the last quarter. Finally, Neumeier Poma Investment Counsel LLC raised its position in Columbia Banking System by 21.9% in the fourth quarter. Neumeier Poma Investment Counsel LLC now owns 725,400 shares of the financial services provider’s stock valued at $32,411,000 after buying an additional 130,315 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.
Shares of Columbia Banking System Inc (NASDAQ:COLB) traded down 0.11% during mid-day trading on Friday, reaching $37.67. 418,275 shares of the company traded hands. The company’s 50 day moving average is $38.90 and its 200 day moving average is $39.97. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 19.42 and a beta of 1.32. Columbia Banking System Inc has a 52-week low of $26.17 and a 52-week high of $45.68.
Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, April 27th. The financial services provider reported $0.50 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. Columbia Banking System had a return on equity of 8.44% and a net margin of 24.61%. The firm had revenue of $111.53 million for the quarter, compared to the consensus estimate of $110.72 million. During the same period in the prior year, the business posted $0.40 earnings per share. On average, equities analysts forecast that Columbia Banking System Inc will post $2.05 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 24th. Investors of record on Wednesday, May 10th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, May 8th. This represents a $0.88 annualized dividend and a yield of 2.33%. Columbia Banking System’s dividend payout ratio (DPR) is presently 48.62%.
COLB has been the topic of several analyst reports. Zacks Investment Research upgraded Columbia Banking System from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Monday, March 20th. Piper Jaffray Companies reduced their price target on Columbia Banking System from $43.00 to $41.00 and set a “neutral” rating on the stock in a report on Monday, April 17th. DA Davidson upgraded Columbia Banking System from a “neutral” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Thursday, March 16th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $44.00 price target on shares of Columbia Banking System in a report on Tuesday, May 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $41.20.
In related news, CAO Barry Ray sold 981 shares of the stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $39.42, for a total transaction of $38,671.02. Following the transaction, the chief accounting officer now directly owns 12,000 shares in the company, valued at $473,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.07% of the company’s stock.
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.
Receive News & Ratings for Columbia Banking System Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbia Banking System Inc and related companies with MarketBeat.com's FREE daily email newsletter.