Millennium Management LLC lessened its holdings in shares of Columbia Banking System Inc (NASDAQ:COLB) by 68.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,445 shares of the financial services provider’s stock after selling 13,750 shares during the period. Millennium Management LLC’s holdings in Columbia Banking System were worth $270,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Advisors Preferred LLC bought a new position in Columbia Banking System in the 1st quarter worth about $139,000. SG Americas Securities LLC bought a new position in Columbia Banking System in the 1st quarter worth about $199,000. Klingenstein Fields & Co. LLC bought a new position in Columbia Banking System in the 1st quarter worth about $203,000. Zeke Capital Advisors LLC bought a new position in Columbia Banking System in the 1st quarter worth about $216,000. Finally, Dynamic Advisor Solutions LLC bought a new position in Columbia Banking System in the 1st quarter worth about $236,000. 88.47% of the stock is owned by institutional investors and hedge funds.
COLB has been the subject of several recent analyst reports. DA Davidson decreased their target price on shares of Columbia Banking System from $51.00 to $49.00 and set a “buy” rating for the company in a research report on Friday, April 27th. BidaskClub cut shares of Columbia Banking System from a “buy” rating to a “hold” rating in a research report on Saturday, April 28th. Finally, Zacks Investment Research cut shares of Columbia Banking System from a “hold” rating to a “sell” rating in a research report on Tuesday, May 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Columbia Banking System currently has a consensus rating of “Hold” and an average price target of $48.20.
NASDAQ COLB opened at $42.46 on Monday. Columbia Banking System Inc has a 52 week low of $35.67 and a 52 week high of $48.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 1.66 and a beta of 1.12.
Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, July 26th. The financial services provider reported $0.60 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.04). Columbia Banking System had a return on equity of 9.13% and a net margin of 25.30%. The firm had revenue of $140.37 million during the quarter, compared to the consensus estimate of $143.03 million. During the same quarter last year, the company posted $0.47 EPS. equities analysts expect that Columbia Banking System Inc will post 2.53 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 22nd. Stockholders of record on Wednesday, August 8th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Tuesday, August 7th. Columbia Banking System’s dividend payout ratio is currently 47.49%.
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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