New York State Teachers Retirement System raised its stake in Columbia Banking System, Inc. (NASDAQ:COLB – Free Report) by 131.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 286,864 shares of the financial services provider’s stock after acquiring an additional 162,972 shares during the period. New York State Teachers Retirement System owned approximately 0.36% of Columbia Banking System worth $6,145,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. IFP Advisors Inc increased its holdings in Columbia Banking System by 203.2% in the 4th quarter. IFP Advisors Inc now owns 473 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 317 shares during the last quarter. LPL Financial LLC increased its holdings in Columbia Banking System by 1.9% in the 4th quarter. LPL Financial LLC now owns 17,685 shares of the financial services provider’s stock valued at $533,000 after acquiring an additional 323 shares during the last quarter. BNP Paribas Arbitrage SNC increased its holdings in shares of Columbia Banking System by 0.9% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 37,012 shares of the financial services provider’s stock worth $1,069,000 after buying an additional 337 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of Columbia Banking System by 2.2% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 16,825 shares of the financial services provider’s stock worth $486,000 after buying an additional 362 shares during the last quarter. Finally, Maryland State Retirement & Pension System increased its holdings in shares of Columbia Banking System by 1.2% in the 4th quarter. Maryland State Retirement & Pension System now owns 32,516 shares of the financial services provider’s stock worth $980,000 after buying an additional 383 shares during the last quarter. 88.71% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Columbia Banking System
In related news, Director Craig D. Eerkes acquired 2,381 shares of the stock in a transaction on Wednesday, May 24th. The stock was bought at an average cost of $21.01 per share, with a total value of $50,024.81. Following the transaction, the director now directly owns 29,022 shares in the company, valued at $609,752.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Columbia Banking System Price Performance
Columbia Banking System stock opened at $21.17 on Friday. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of 8.93 and a beta of 0.66. Columbia Banking System, Inc. has a 1 year low of $17.54 and a 1 year high of $35.53. The firm has a 50-day moving average of $21.48 and a two-hundred day moving average of $24.16.
Columbia Banking System (NASDAQ:COLB – Get Free Report) last released its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.12). The company had revenue of $524.85 million during the quarter, compared to analysts’ expectations of $584.70 million. Columbia Banking System had a net margin of 16.18% and a return on equity of 9.55%. Columbia Banking System’s quarterly revenue was up 72.8% on a year-over-year basis. During the same period last year, the firm earned $0.79 earnings per share. Research analysts expect that Columbia Banking System, Inc. will post 3.44 earnings per share for the current year.
Columbia Banking System Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 6.80%. This is a boost from Columbia Banking System’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, May 30th. Columbia Banking System’s payout ratio is 60.76%.
About Columbia Banking System
Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides commercial and retail banking services. The company offers deposit products, including interest-bearing checking, savings, money market, and certificate of deposit accounts. It also provides home mortgages for purchases and refinances, home equity loans and lines of credit, and other personal loans; and agricultural loans, asset-based loans, builder and other commercial real estate loans, and loans guaranteed by the SBA, as well as offer a suite of business edge loans designed for small businesses to expand, purchase equipment, or in need of working capital.
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