Piedmont Investment Advisors LLC Buys 1,453 Shares of Columbia Banking System Inc (COLB)

Piedmont Investment Advisors LLC increased its stake in shares of Columbia Banking System Inc (NASDAQ:COLB) by 9.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,065 shares of the financial services provider’s stock after buying an additional 1,453 shares during the quarter. Piedmont Investment Advisors LLC’s holdings in Columbia Banking System were worth $698,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of COLB. The Manufacturers Life Insurance Company grew its stake in Columbia Banking System by 76.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 936,964 shares of the financial services provider’s stock worth $39,305,000 after buying an additional 405,659 shares during the last quarter. OppenheimerFunds Inc. grew its stake in Columbia Banking System by 4,223.4% during the 1st quarter. OppenheimerFunds Inc. now owns 364,807 shares of the financial services provider’s stock worth $15,304,000 after buying an additional 356,369 shares during the last quarter. Franklin Resources Inc. grew its stake in Columbia Banking System by 12.8% during the 1st quarter. Franklin Resources Inc. now owns 3,032,722 shares of the financial services provider’s stock worth $127,223,000 after buying an additional 344,136 shares during the last quarter. BlackRock Inc. boosted its position in Columbia Banking System by 1.8% during the 1st quarter. BlackRock Inc. now owns 9,474,957 shares of the financial services provider’s stock worth $397,475,000 after acquiring an additional 167,732 shares during the period. Finally, Cardinal Capital Management LLC CT boosted its position in Columbia Banking System by 7.4% during the 1st quarter. Cardinal Capital Management LLC CT now owns 2,382,756 shares of the financial services provider’s stock worth $99,957,000 after acquiring an additional 164,134 shares during the period. Hedge funds and other institutional investors own 88.63% of the company’s stock.

Shares of Columbia Banking System opened at $41.29 on Friday, Marketbeat Ratings reports. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.07. Columbia Banking System Inc has a 1 year low of $35.67 and a 1 year high of $48.06. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 1.66 and a beta of 1.12.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, July 26th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ 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 business had revenue of $140.37 million for the quarter, compared to analyst estimates of $143.03 million. During the same quarter last year, the firm posted $0.47 EPS. equities analysts expect that Columbia Banking System Inc will post 2.53 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 22nd. Shareholders of record on Wednesday, August 8th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, August 7th. This represents a $1.04 dividend on an annualized basis and a yield of 2.52%. Columbia Banking System’s dividend payout ratio (DPR) is presently 47.49%.

A number of brokerages have issued reports on COLB. BidaskClub lowered Columbia Banking System from a “buy” rating to a “hold” rating in a research report on Saturday, April 28th. Zacks Investment Research lowered Columbia Banking System from a “hold” rating to a “sell” rating in a research report on Monday, July 30th. Finally, DA Davidson reduced their price target on 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. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $48.20.

Columbia Banking System 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.

Read More: Leveraged Buyout (LBO) Explained

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

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