Paloma Partners Management Co bought a new position in Columbia Banking System, Inc. (NASDAQ:COLB) during the first quarter, Holdings Channel reports. The firm bought 12,275 shares of the financial services provider’s stock, valued at approximately $479,000.
Several other institutional investors have also made changes to their positions in the company. Raymond James Financial Services Advisors Inc. increased its stake in shares of Columbia Banking System by 0.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 5,602 shares of the financial services provider’s stock valued at $218,000 after buying an additional 46 shares in the last quarter. A.R.T. Advisors LLC bought a new stake in shares of Columbia Banking System during the fourth quarter valued at $221,000. 1st Global Advisors Inc. increased its stake in shares of Columbia Banking System by 1.4% in the first quarter. 1st Global Advisors Inc. now owns 6,179 shares of the financial services provider’s stock valued at $241,000 after buying an additional 85 shares in the last quarter. Virginia Retirement Systems ET AL bought a new stake in shares of Columbia Banking System during the first quarter valued at $242,000. Finally, Tudor Investment Corp Et Al bought a new stake in shares of Columbia Banking System during the fourth quarter valued at $244,000. Institutional investors and hedge funds own 94.46% of the company’s stock.
Shares of Columbia Banking System, Inc. (NASDAQ:COLB) opened at 39.19 on Wednesday. The firm has a 50-day moving average price of $39.36 and a 200-day moving average price of $39.63. Columbia Banking System, Inc. has a 12-month low of $28.51 and a 12-month high of $45.68. The firm has a market cap of $2.29 billion, a P/E ratio of 20.20 and a beta of 1.22.
Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, April 27th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. Columbia Banking System had a return on equity of 8.90% and a net margin of 25.82%. The company had revenue of $111.53 million during the quarter, compared to analysts’ expectations of $110.72 million. During the same quarter in the prior year, the business posted $0.40 earnings per share. On average, equities research analysts expect that Columbia Banking System, Inc. will post $2.04 earnings per share for the current fiscal year.
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Several equities research analysts recently weighed in on COLB shares. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $44.00 price target on shares of Columbia Banking System in a report on Friday, June 16th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $44.00 price target on shares of Columbia Banking System in a report on Tuesday, May 9th. Zacks Investment Research downgraded Columbia Banking System from a “buy” rating to a “hold” rating in a report on Tuesday, May 2nd. Finally, Piper Jaffray Companies decreased their price target on Columbia Banking System from $43.00 to $41.00 and set a “neutral” rating for the company in a report on Monday, April 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $43.80.
In other news, CFO Clint Stein sold 8,000 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $40.09, for a total value of $320,720.00. Following the completion of the transaction, the chief financial officer now owns 22,877 shares of the company’s stock, valued at $917,138.93. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.23% of the company’s stock.
About Columbia Banking System
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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