Westwood Holdings Group Inc. boosted its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 18.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 378,090 shares of the financial services provider’s stock after buying an additional 57,805 shares during the period. Westwood Holdings Group Inc. owned approximately 0.65% of Columbia Banking System worth $14,742,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of the stock. Elkfork Partners LLC acquired a new stake in shares of Columbia Banking System during the fourth quarter valued at approximately $188,000. 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 worth $218,000 after buying an additional 46 shares during the last quarter. A.R.T. Advisors LLC acquired a new stake in shares of Columbia Banking System during the fourth quarter worth approximately $221,000. 1st Global Advisors Inc. increased its stake in 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 worth $241,000 after buying an additional 85 shares in the last quarter. Finally, Virginia Retirement Systems ET AL purchased a new stake in Columbia Banking System during the first quarter worth about $242,000. 94.53% of the stock is owned by institutional investors.
Shares of Columbia Banking System, Inc. (NASDAQ COLB) traded down 0.10% during midday trading on Wednesday, reaching $39.70. The company’s stock had a trading volume of 68,235 shares. The stock has a 50-day moving average of $38.91 and a 200 day moving average of $40.09. Columbia Banking System, Inc. has a 12-month low of $27.61 and a 12-month high of $45.68. The firm has a market capitalization of $2.32 billion, a P/E ratio of 20.46 and a beta of 1.22.
Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, April 27th. The financial services provider reported $0.50 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.50. The firm had revenue of $111.53 million during the quarter, compared to analysts’ expectations of $110.72 million. Columbia Banking System had a net margin of 25.82% and a return on equity of 8.90%. During the same quarter in the prior year, the business earned $0.40 EPS. Equities research analysts predict that Columbia Banking System, Inc. will post $2.04 EPS for the current fiscal year.
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Several equities analysts have recently weighed in on COLB shares. Zacks Investment Research cut Columbia Banking System from a “buy” rating to a “hold” rating in a research report on Tuesday, May 2nd. Piper Jaffray Companies dropped their price objective on Columbia Banking System from $43.00 to $41.00 and set a “neutral” rating for the company in a research note on Monday, April 17th. DA Davidson raised Columbia Banking System from a “neutral” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Thursday, March 16th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $44.00 price target on shares of Columbia Banking System in a research note on Friday, June 16th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $44.00 price target on shares of Columbia Banking System in a report on Tuesday, May 9th. 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 stock. Columbia Banking System presently has an average rating of “Hold” and an average price target of $43.80.
In related news, CFO Clint Stein sold 8,000 shares of the stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $40.09, for a total transaction of $320,720.00. Following the completion of the sale, the chief financial officer now owns 22,877 shares in the company, valued at approximately $917,138.93. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.23% of the stock is owned by corporate insiders.
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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