KBC Group NV trimmed its position in shares of Columbia Banking System Inc (NASDAQ:COLB) by 86.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,735 shares of the financial services provider’s stock after selling 17,904 shares during the period. KBC Group NV’s holdings in Columbia Banking System were worth $99,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of COLB. Norges Bank purchased a new stake in Columbia Banking System in the 4th quarter valued at about $22,754,000. BlackRock Inc. lifted its position 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 period. Westwood Holdings Group Inc. lifted its position in shares of Columbia Banking System by 43.9% in the 1st quarter. Westwood Holdings Group Inc. now owns 964,556 shares of the financial services provider’s stock worth $31,531,000 after purchasing an additional 294,156 shares during the period. Neuberger Berman Group LLC lifted its position in shares of Columbia Banking System by 7.7% in the 1st quarter. Neuberger Berman Group LLC now owns 3,280,960 shares of the financial services provider’s stock worth $107,255,000 after purchasing an additional 234,635 shares during the period. Finally, Granite Investment Partners LLC lifted its position in shares of Columbia Banking System by 45.4% in the 1st quarter. Granite Investment Partners LLC now owns 310,660 shares of the financial services provider’s stock worth $10,155,000 after purchasing an additional 96,928 shares during the period. Institutional investors own 90.98% of the company’s stock.
NASDAQ:COLB traded up $0.75 during midday trading on Tuesday, reaching $35.25. 7,509 shares of the stock traded hands, compared to its average volume of 238,431. Columbia Banking System Inc has a 12-month low of $30.65 and a 12-month high of $43.60. The firm has a 50-day moving average price of $35.91. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $2.55 billion, a PE ratio of 14.18, a PEG ratio of 1.96 and a beta of 1.07.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 21st. Investors of record on Wednesday, August 7th will be given a dividend of $0.28 per share. The ex-dividend date is Tuesday, August 6th. This represents a $1.12 dividend on an annualized basis and a yield of 3.18%. Columbia Banking System’s payout ratio is 45.34%.
In related news, EVP Andy Mcdonald sold 3,481 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $35.06, for a total transaction of $122,043.86. Following the completion of the sale, the executive vice president now owns 36,264 shares of the company’s stock, valued at $1,271,415.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.92% of the company’s stock.
COLB has been the subject of several research reports. Zacks Investment Research raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Royal Bank of Canada set a $38.00 price target on shares of Columbia Banking System and gave the stock a “hold” rating in a research report on Friday, July 26th. BidaskClub cut shares of Columbia Banking System from a “buy” rating to a “hold” rating in a research report on Friday, May 24th. Finally, ValuEngine raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Columbia Banking System has a consensus rating of “Hold” and an average price target of $41.71.
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.
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