SG Americas Securities LLC sells 6,303 shares of Columbia Banking System, Inc. (NASDAQ: COLB)


SG Americas Securities LLC reduced its position in Columbia Banking System, Inc. (NASDAQ:COLB – Get Rating) by 31.9% in the first quarter, according to its latest 13F filing with the Securities and Exchange Commission. The company held 13,432 shares of the financial services provider after selling 6,303 shares during the quarter. SG Americas Securities LLC’s holdings in Columbia Banking System were worth $433,000 when it last filed with the SEC.

A number of other hedge funds have also recently changed their holdings in the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Columbia Banking System in Q4 worth approximately $811,000. Commonwealth Equity Services LLC increased its holdings of Columbia Banking System shares by 24.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 23,737 shares of the financial services provider worth $776,000 after buying an additional 4,628 shares last quarter. New Jersey State Joint Pension Fund D acquired a new position in Columbia Banking System stock in Q4 worth approximately $2,700,000. Yousif Capital Management LLC acquired a new position in shares of Columbia Banking System in Q4 worth approximately $2,365,000. Finally, DA Davidson & CO. acquired a new stake in Columbia Banking System during Q4 valued at $634,000. Institutional investors hold 94.44% of the company’s shares.

Analysts set new price targets

COLB has been the subject of a number of recent analyst reports. Royal Bank of Canada raised its price target on Columbia Banking System from $35.00 to $36.00 and gave the company an “sector performance” rating in a Friday, April 22 report. Piper Sandler lowered its price target on Columbia Banking System from $35.00 to $31.00 in a Monday, May 2 report. Finally, Raymond James lowered its price target on Columbia Banking System from $38.00 to $34.00 and set an “outperform” rating for the company in a Thursday, July 7 report. Four equity research analysts gave the stock a hold rating and two gave the company a buy rating. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $34.80.

Columbia Banking System Stock Performance

The NASDAQ COLB opened at $30.15 on Friday. The stock has a fifty-day moving average of $29.29 and a 200-day moving average of $31.52. The stock has a market capitalization of $2.37 billion, a P/E ratio of 10.85 and a beta of 0.67. Columbia Banking System, Inc. has a 52-week low of $26.97 and a 52-week high of $40.78.

Columbia Banking System (NASDAQ:COLB – Get Rating) last released its quarterly results on Thursday, July 21. The financial services provider reported earnings per share (EPS) of $0.75 for the quarter, missing the consensus estimate of $0.77 per ($0.02). Columbia Banking System had a return on equity of 9.68% and a net margin of 31.28%. In the same period a year earlier, the company had earned earnings per share of $0.77. Equity research analysts expect Columbia Banking System, Inc. to post earnings per share of 2.72 for the current fiscal year.

Columbia Banking System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 17. Shareholders of record on Wednesday, August 3 will receive a dividend of $0.30 per share. The ex-dividend date is Tuesday, August 2. This represents an annualized dividend of $1.20 and a yield of 3.98%. Columbia Banking System’s dividend payout ratio is currently 43.17%.

Insiders place their bets

Separately, director Craig D. Eerkes purchased 1,694 shares of the company in a transaction dated Friday, June 10. The shares were purchased at an average cost of $28.52 per share, for a total transaction of $48,312.88. Following the completion of the acquisition, the administrator now directly owns 20,227 shares of the company, valued at approximately $576,874.04. The purchase was disclosed in a filing with the SEC, accessible via this link. Over the past ninety days, insiders have purchased 2,713 shares of the company worth $74,593. Company insiders own 0.62% of the company’s shares.

Columbia Banking System Profile

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Columbia Banking System, Inc operates as a bank holding company for Columbia State Bank which provides a range of banking services to small and medium businesses, professionals and individuals in the United States. It offers personal banking products and services, including interest-free and interest-bearing checks, savings accounts, money market and certificates of deposit; home mortgages for purchases and refinances, home equity loans and lines of credit and other personal loans; debit and credit cards; and digital banking.

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Want to see which other hedge funds hold COLB? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Columbia Banking System, Inc. (NASDAQ:COLB – Get Rating).

Institutional ownership by quarter for Columbia Banking System (NASDAQ:COLB)



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