Columbia Banking System Inc (COLB) Shares Bought by Rhumbline Advisers
Rhumbline Advisers boosted its stake in shares of Columbia Banking System Inc (NASDAQ:COLB) by 35.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 195,477 shares of the financial services provider’s stock after purchasing an additional 50,643 shares during the quarter. Rhumbline Advisers’ holdings in Columbia Banking System were worth $8,492,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Columbia Banking System by 79.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,343 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 1,476 shares during the period. Meeder Asset Management Inc. bought a new position in Columbia Banking System during the fourth quarter worth $178,000. Teacher Retirement System of Texas bought a new position in Columbia Banking System during the third quarter worth $202,000. Janney Montgomery Scott LLC bought a new position in Columbia Banking System during the third quarter worth $204,000. Finally, Yellowstone Partners LLC bought a new position in Columbia Banking System during the third quarter worth $224,000. 81.94% of the stock is owned by hedge funds and other institutional investors.
Shares of Columbia Banking System Inc (NASDAQ COLB) opened at $42.88 on Friday. Columbia Banking System Inc has a twelve month low of $35.67 and a twelve month high of $48.06. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $3,131.91, a price-to-earnings ratio of 22.57, a PEG ratio of 1.53 and a beta of 1.10.
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 7th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Tuesday, February 6th. Columbia Banking System’s dividend payout ratio is currently 46.32%.
A number of equities analysts have commented on COLB shares. Piper Jaffray Companies reaffirmed a “buy” rating and set a $53.00 price objective on shares of Columbia Banking System in a research report on Tuesday, January 9th. Zacks Investment Research raised Columbia Banking System from a “sell” rating to a “buy” rating and set a $50.00 target price for the company in a report on Monday, January 8th. BidaskClub downgraded Columbia Banking System from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Sandler O’Neill reissued a “hold” rating and set a $48.00 target price on shares of Columbia Banking System in a report on Friday, January 26th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $46.00 target price on shares of Columbia Banking System in a report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $48.00.
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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.
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