MetLife Investment Advisors LLC lessened its holdings in Columbia Banking System Inc (NASDAQ:COLB) by 35.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,810 shares of the financial services provider’s stock after selling 18,042 shares during the period. MetLife Investment Advisors LLC’s holdings in Columbia Banking System were worth $1,191,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund acquired a new position in Columbia Banking System during the 4th quarter worth $28,000. Bank of New York Mellon Corp raised its position in shares of Columbia Banking System by 40.2% during 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 buying an additional 416,601 shares in the last quarter. BlackRock Inc. raised its position in shares of Columbia Banking System by 3.8% during the 3rd quarter. BlackRock Inc. now owns 10,518,708 shares of the financial services provider’s stock worth $407,811,000 after buying an additional 381,970 shares in the last quarter. Bank of America Corp DE raised its position in shares of Columbia Banking System by 123.2% during 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 buying an additional 244,220 shares in the last quarter. Finally, Vanguard Group Inc raised its position in shares of Columbia Banking System by 2.0% during the 3rd quarter. Vanguard Group Inc now owns 7,522,600 shares of the financial services provider’s stock worth $291,650,000 after buying an additional 148,645 shares in the last quarter. 90.52% of the stock is owned by institutional investors and hedge funds.
In related news, COO Clint Stein sold 657 shares of the company’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $38.32, for a total transaction of $25,176.24. Following the transaction, the chief operating officer now owns 24,644 shares in the company, valued at approximately $944,358.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.92% of the stock is owned by corporate insiders.
Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, April 25th. The financial services provider reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.01. Columbia Banking System had a net margin of 29.54% and a return on equity of 9.01%. The business had revenue of $142.72 million for the quarter, compared to analyst estimates of $147.05 million. During the same quarter in the prior year, the firm earned $0.55 EPS. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. Analysts expect that Columbia Banking System Inc will post 2.53 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $1.12 annualized dividend and a yield of 3.05%. Columbia Banking System’s dividend payout ratio (DPR) is 45.34%.
Several brokerages have recently issued reports on COLB. ValuEngine cut shares of Columbia Banking System from a “hold” rating to a “sell” rating in a research note on Thursday, February 14th. BidaskClub downgraded shares of Columbia Banking System from a “hold” rating to a “sell” rating in a research report on Saturday, March 9th. Stephens initiated coverage on shares of Columbia Banking System in a research report on Wednesday, March 6th. They set an “equal weight” rating and a $39.00 price objective on the stock. DA Davidson downgraded shares of Columbia Banking System from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $42.00 to $38.00 in a research report on Monday, March 18th. Finally, Zacks Investment Research upgraded shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Friday, March 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $42.33.
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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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