Dorsey & Whitney Trust CO LLC Acquires Shares of 4,710 Columbia Banking System Inc (COLB)
Dorsey & Whitney Trust CO LLC acquired a new stake in Columbia Banking System Inc (NASDAQ:COLB) during the 4th quarter, Holdings Channel reports. The firm acquired 4,710 shares of the financial services provider’s stock, valued at approximately $205,000.
Several other institutional investors have also made changes to their positions in COLB. BlackRock Inc. lifted its position in shares of Columbia Banking System by 27.4% in the fourth quarter. BlackRock Inc. now owns 9,307,225 shares of the financial services provider’s stock valued at $404,306,000 after acquiring an additional 2,002,968 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Columbia Banking System by 253.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 531,305 shares of the financial services provider’s stock worth $23,081,000 after purchasing an additional 380,844 shares during the last quarter. Wedge Capital Management L L P NC bought a new stake in shares of Columbia Banking System in the fourth quarter worth about $12,128,000. Assenagon Asset Management S.A. bought a new stake in shares of Columbia Banking System in the fourth quarter worth about $9,700,000. Finally, Granite Investment Partners LLC increased its holdings in shares of Columbia Banking System by 71.6% in the third quarter. Granite Investment Partners LLC now owns 336,216 shares of the financial services provider’s stock worth $14,158,000 after purchasing an additional 140,315 shares during the last quarter. Institutional investors and hedge funds own 81.94% of the company’s stock.
Shares of Columbia Banking System Inc (NASDAQ COLB) opened at $42.88 on Friday. Columbia Banking System Inc has a twelve month low of $35.67 and a twelve month high of $48.06. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $3,085.89, a PE ratio of 19.12, a PEG ratio of 1.51 and a beta of 1.10.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 21st. Shareholders of record on Wednesday, February 7th were paid a dividend of $0.22 per share. The ex-dividend date was Tuesday, February 6th. This represents a $0.88 annualized dividend and a yield of 2.05%. Columbia Banking System’s payout ratio is currently 46.32%.
Several brokerages have recently issued reports on COLB. Sandler O’Neill reaffirmed a “hold” rating and issued a $48.00 target price on shares of Columbia Banking System in a report on Friday, January 26th. Piper Jaffray Companies set a $52.00 target price on Columbia Banking System and gave the stock a “buy” rating in a report on Tuesday, January 30th. Zacks Investment Research raised Columbia Banking System from a “sell” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Monday, January 8th. BidaskClub cut Columbia Banking System from a “hold” rating to a “sell” rating in a report on Tuesday, January 23rd. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $46.00 target price on shares of Columbia Banking System in a report on Friday, January 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $48.00.
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Columbia Banking System 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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