Columbia Banking System Inc (COLB) Shares Sold by American International Group Inc.

American International Group Inc. reduced its stake in shares of Columbia Banking System Inc (NASDAQ:COLB) by 19.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,124 shares of the financial services provider’s stock after selling 11,357 shares during the period. American International Group Inc. owned approximately 0.06% of Columbia Banking System worth $1,935,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of COLB. BlackRock Inc. raised its stake in shares of Columbia Banking System by 27.4% during the 4th quarter. BlackRock Inc. now owns 9,307,225 shares of the financial services provider’s stock worth $404,306,000 after buying an additional 2,002,968 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Columbia Banking System by 2.2% during the 4th quarter. Franklin Resources Inc. now owns 2,688,586 shares of the financial services provider’s stock worth $116,792,000 after buying an additional 57,000 shares during the last quarter. Cardinal Capital Management LLC CT raised its stake in shares of Columbia Banking System by 0.3% during the 4th quarter. Cardinal Capital Management LLC CT now owns 2,218,622 shares of the financial services provider’s stock worth $96,377,000 after buying an additional 6,077 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Columbia Banking System by 0.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,212,513 shares of the financial services provider’s stock worth $96,112,000 after buying an additional 17,757 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Columbia Banking System by 11.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,150,303 shares of the financial services provider’s stock worth $49,968,000 after buying an additional 121,284 shares during the last quarter. Institutional investors own 88.47% of the company’s stock.

Columbia Banking System traded up $0.01, hitting $43.10, during trading on Thursday, MarketBeat Ratings reports. The stock had a trading volume of 166,763 shares, compared to its average volume of 281,279. Columbia Banking System Inc has a 1-year low of $35.67 and a 1-year high of $48.06. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 1.70 and a beta of 1.08. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.04.



Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, April 26th. The financial services provider reported $0.59 EPS for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.07). Columbia Banking System had a net margin of 24.05% and a return on equity of 9.04%. The company had revenue of $138.62 million for the quarter, compared to analyst estimates of $142.70 million. During the same period in the prior year, the company earned $0.50 EPS. research analysts predict that Columbia Banking System Inc will post 2.58 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 23rd. Stockholders of record on Wednesday, May 9th were paid a dividend of $0.26 per share. The ex-dividend date was Tuesday, May 8th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.41%. This is an increase from Columbia Banking System’s previous quarterly dividend of $0.22. Columbia Banking System’s dividend payout ratio is currently 47.49%.

Several research analysts recently weighed in on COLB shares. Zacks Investment Research downgraded shares of Columbia Banking System from a “buy” rating to a “hold” rating in a research note on Friday, March 30th. BidaskClub raised shares of Columbia Banking System from a “hold” rating to a “buy” rating in a research note on Friday, April 13th. Finally, DA Davidson cut their target price on shares of Columbia Banking System from $51.00 to $49.00 and set a “buy” rating for the company in a research note on Friday, April 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $47.50.

Columbia Banking System Company Profile

Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in Washington, Oregon, and Idaho. It offers personal banking products and services, including noninterest and interest-bearing checking, saving, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and personal loans; debit and credit cards; and digital banking services.

Institutional Ownership by Quarter for Columbia Banking System (NASDAQ:COLB)

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