US Bancorp DE Acquires 36,152 Shares of Columbia Banking System Inc (COLB)
US Bancorp DE raised its holdings in Columbia Banking System Inc (NASDAQ:COLB) by 116.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,100 shares of the financial services provider’s stock after buying an additional 36,152 shares during the period. US Bancorp DE’s holdings in Columbia Banking System were worth $2,915,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Columbia Banking System by 79.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,343 shares of the financial services provider’s stock valued at $145,000 after buying an additional 1,476 shares during the period. Teacher Retirement System of Texas purchased a new position in Columbia Banking System in the 3rd quarter valued at approximately $202,000. Janney Montgomery Scott LLC purchased a new position in Columbia Banking System in the 3rd quarter valued at approximately $204,000. Yellowstone Partners LLC purchased a new position in Columbia Banking System in the 3rd quarter valued at approximately $224,000. Finally, Shelton Capital Management purchased a new position in Columbia Banking System in the 2nd quarter valued at approximately $230,000. 76.73% of the stock is owned by institutional investors.
Several brokerages have commented on COLB. Sandler O’Neill reissued a “hold” rating and issued a $48.00 price target on shares of Columbia Banking System in a research report on Friday, January 26th. Piper Jaffray Companies set a $52.00 price target on shares of Columbia Banking System and gave the company a “buy” rating in a research report on Tuesday, January 30th. Zacks Investment Research raised shares of Columbia Banking System from a “sell” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Monday, January 8th. Finally, BidaskClub cut shares of Columbia Banking System from a “hold” rating to a “sell” rating in a research report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $48.00.
Shares of Columbia Banking System Inc (NASDAQ:COLB) opened at $42.41 on Thursday. The stock has a market cap of $3,042.01, a price-to-earnings ratio of 18.85, a PEG ratio of 1.49 and a beta of 1.11. Columbia Banking System Inc has a 1 year low of $35.67 and a 1 year high of $48.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.82 and a current ratio of 0.82.
Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.02). The firm had revenue of $135.40 million for the quarter, compared to analysts’ expectations of $135.15 million. Columbia Banking System had a return on equity of 9.14% and a net margin of 23.29%. Columbia Banking System’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same period last year, the firm posted $0.53 earnings per share. research analysts anticipate that Columbia Banking System Inc will post 2.8 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 7th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $0.88 annualized dividend and a dividend yield of 2.07%. Columbia Banking System’s dividend payout ratio (DPR) is currently 46.32%.
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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