() experienced a significant increase in short interest throughout the month of may. On May 15th there were 6,160,000 shorted shares. This is an increase of 9.6% compared to the total of 5,620,000 on April 30th. The short-interest rate is currently 1.9 per cent based on an average trading volume 3,300,000 share.
Analyst Ratings Changes
Recently, a number of analysts have weighed in about the stock. Piper Sandler lowered their target price for shares of Columbia Banking System in a report published on Wednesday, May 3. Wells Fargo & Company began covering shares of Columbia Banking System on Tuesday, February 28, in a research report. The company was given an 'overweight rating' and a price target of $37.00. Truist Financial reduced their price target on Columbia Banking System in a report published on Monday, 1st May from $24.00 down to $23.00. Stephens lowered their price target for Columbia Banking System in a report published on Monday, 1st May from $34.00 down to $30. UBS Group finally began covering Columbia Banking System on March 15th in a report. The company was given a rating of 'neutral,' and the price target is $23.00. Stocks have been rated by one equity research analyst as a sell, five analysts have given it a hold, three have given it a buy and one analyst has given the stock a strong-buy rating. Trading at midday on Wednesday saw a $0.67 decline, bringing the price to $20.03. Stock traded 2,767,000 shares compared to 2,561,708 average. The 50-day moving mean of the business is $20.78, and its 200 day moving means is $26.71. Columbia Banking System's 52-week low is $17.54 while its 52-week high is $35.53. The company's market cap is $4.18 billion. It has an P/E of 8.45, and a beta value of 0.67.
The last time ) released quarterly earnings was on Wednesday, 26th April. The financial services provider posted $0.46 in earnings per share for the quarter. This was $0.06 higher than the consensus estimate, which was $0.40. Revenue for the quarter was $429.43 millions, which is higher than analysts' expectations. Columbia Banking System's return on equity was 9.55%, and its net margin was 16.18%. Revenue for the firm increased 39.1% from a year ago. In the same quarter of the previous year, the company posted $0.81 in earnings per share. Analysts expect Columbia Banking System to post 3.57 EPS in the current fiscal year.
Columbia Banking System Increases Dividend
Recently, the business announced that it will pay a quarterly distribution on Thursday, 15th June. Dividends will be paid to shareholders who were in the books on May 31st. The dividend is payable on Tuesday, May 30, 2019. This is a $1.44 dividend with a yield of 7.19%. The dividend is an increase from the previous quarterly Columbia Banking System dividend of $0.30. Columbia Banking System has a dividend payout ratio of 50.63%.
Craig D. Eerkes, a director of the company, purchased 2,381 stock shares in a deal on May 24th. The shares were purchased at a cost of approximately $21.01 for each share. Their total value is $50,024.81. After the purchase, the director owns 29,022 of the company's shares, worth $609,752.22. Corporate insiders own 0.50%.
Institutional Trading of Columbia Banking System
COLB has seen a number of institutional investors make recent changes to their holdings. Lindbrook Capital LLC acquired a stake in Columbia Banking System worth around $26,000 in the first quarter. Fifth Third Bancorp increased its stake in Columbia Banking System shares by 2,330.0% during the first quarter. Fifth Third Bancorp owns 1,215 of the financial service provider's shares worth $26,000, after purchasing an additional 1,165 during the last quarter. Ellevest Inc. increased its holdings of Columbia Banking System shares by 2,730.2% during the first quarter. Ellevest Inc. owns 1,217 of the financial services provider stock, worth $26,000. This is after purchasing an additional 1,174 during the period. IFP Advisors Inc increased its holdings of Columbia Banking System shares by 203.2% during the fourth quarter. IFP Advisors Inc owns 473 of the financial services providers stock, worth $28,000. This is after adding 317 additional shares. Proficio Capital Partners LLC purchased a new stake in Columbia Banking System during the first quarter, valued at approximately $30,000.
Columbia Banking System
Columbia Banking System, Inc. is a holding company that provides financial services. It provides its services to professionals, small and medium businesses, and individual customers. It is based in Washington, Oregon and Idaho. The company was established in 1993 with its headquarters in Tacoma.
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