Arizona State Retirement System increased its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 1.3% during the first quarter, Holdings Channel reports. The institutional investor owned 30,259 shares of the financial services provider’s stock after buying an additional 400 shares during the period. Arizona State Retirement System owned about 0.05% of Columbia Banking System worth $1,180,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of COLB. Victory Capital Management Inc. boosted its position in shares of Columbia Banking System by 1.7% in the first quarter. Victory Capital Management Inc. now owns 2,774,320 shares of the financial services provider’s stock worth $108,170,000 after buying an additional 46,048 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Columbia Banking System by 0.3% in the first quarter. Stifel Financial Corp now owns 78,162 shares of the financial services provider’s stock worth $3,047,000 after buying an additional 264 shares in the last quarter. Nordea Investment Management AB bought a new position in shares of Columbia Banking System during the first quarter worth approximately $2,530,000. Envestnet Asset Management Inc. boosted its position in shares of Columbia Banking System by 6.3% in the first quarter. Envestnet Asset Management Inc. now owns 8,547 shares of the financial services provider’s stock worth $333,000 after buying an additional 509 shares in the last quarter. Finally, Mason Street Advisors LLC boosted its position in shares of Columbia Banking System by 7.2% in the first quarter. Mason Street Advisors LLC now owns 13,602 shares of the financial services provider’s stock worth $530,000 after buying an additional 919 shares in the last quarter. Institutional investors own 94.82% of the company’s stock.

Institutional Ownership by Quarter for Columbia Banking System (NASDAQ:COLB)

Columbia Banking System, Inc. (NASDAQ:COLB) opened at 40.25 on Friday. The company has a 50 day moving average price of $39.08 and a 200 day moving average price of $40.27. The firm has a market cap of $2.35 billion, a PE ratio of 20.75 and a beta of 1.22. Columbia Banking System, Inc. has a 1-year low of $26.17 and a 1-year high of $45.68.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, April 27th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.50. The company had revenue of $111.53 million for the quarter, compared to the consensus estimate of $110.72 million. Columbia Banking System had a return on equity of 8.90% and a net margin of 25.82%. During the same period last year, the business posted $0.40 earnings per share. On average, equities research analysts forecast that Columbia Banking System, Inc. will post $2.04 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 24th. Stockholders of record on Wednesday, May 10th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Monday, May 8th. Columbia Banking System’s dividend payout ratio is currently 45.36%.

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Several research analysts recently commented on COLB shares. Zacks Investment Research cut Columbia Banking System from a “buy” rating to a “hold” rating in a research note on Tuesday, March 14th. DA Davidson upgraded Columbia Banking System from a “neutral” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Thursday, March 16th. Piper Jaffray Companies cut their price target on Columbia Banking System from $43.00 to $41.00 and set a “neutral” rating on the stock in a research note on Monday, April 17th. Royal Bank Of Canada reiterated a “hold” rating and issued a $44.00 price target on shares of Columbia Banking System in a research note on Tuesday, May 9th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $44.00 price target on shares of Columbia Banking System in a research note on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $43.80.

In other news, CFO Clint Stein sold 8,000 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $40.09, for a total value of $320,720.00. Following the sale, the chief financial officer now directly owns 22,877 shares of the company’s stock, valued at $917,138.93. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.23% of the company’s stock.

Columbia Banking System Company Profile

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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