Westwood Holdings Group Inc. boosted its stake in shares of Columbia Banking System Inc (NASDAQ:COLB) by 43.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 964,556 shares of the financial services provider’s stock after acquiring an additional 294,156 shares during the period. Westwood Holdings Group Inc.’s holdings in Columbia Banking System were worth $31,531,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the business. Oregon Public Employees Retirement Fund bought a new position in shares of Columbia Banking System in the 4th quarter worth about $28,000. Norges Bank acquired a new position in shares of Columbia Banking System in the 4th quarter worth approximately $22,754,000. BlackRock Inc. grew its stake in shares of Columbia Banking System by 5.6% in the 1st quarter. BlackRock Inc. now owns 10,764,048 shares of the financial services provider’s stock worth $351,877,000 after purchasing an additional 574,267 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Columbia Banking System by 40.2% in the 4th quarter. Bank of New York Mellon Corp now owns 1,452,449 shares of the financial services provider’s stock worth $52,709,000 after purchasing an additional 416,601 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Columbia Banking System by 123.2% in the 4th quarter. Bank of America Corp DE now owns 442,372 shares of the financial services provider’s stock worth $16,054,000 after purchasing an additional 244,220 shares during the last quarter. Institutional investors own 90.23% of the company’s stock.
Shares of Columbia Banking System stock traded down $0.22 during trading on Wednesday, hitting $35.03. The stock had a trading volume of 4,640 shares, compared to its average volume of 352,451. The company has a market cap of $2.59 billion, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 1.92 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.83 and a quick ratio of 0.83. Columbia Banking System Inc has a 1 year low of $30.65 and a 1 year high of $43.92.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend was Tuesday, May 7th. Columbia Banking System’s dividend payout ratio is currently 45.34%.
Several research analysts have recently weighed in on the stock. BidaskClub raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. Zacks Investment Research raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd. ValuEngine downgraded shares of Columbia Banking System from a “hold” rating to a “sell” rating in a research report on Thursday, February 14th. Stephens assumed coverage on shares of Columbia Banking System in a research report on Wednesday, March 6th. They issued an “equal weight” rating and a $39.00 target price on the stock. Finally, DA Davidson downgraded shares of Columbia Banking System from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $42.00 to $38.00 in a research report on Monday, March 18th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $42.33.
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Columbia Banking System 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.
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