BlackRock Fund Advisors has recently announced that it has increased stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 1.51%. After grabbing 16.66 million shares, the institutional investor is now in possession of 0.25 million shares of the Financial Company. The new investment brought the stake of investor firm to 7.99% having worth around $444.51 million. Moreover, Massachusetts Financial Services increased its share by 26010.0 to have a control over 7.08 million shares. And Franklin Mutual Advisers LLC raised its holdings to 0.66 million shares by acquiring 7.07 million shares or 3.39% of the stake.
Columbia Banking System, Inc. (COLB) concluded trading on Thursday at a closing price of $20.18, with 15.24 million shares of worth about $307.49 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -10.83% during that period and on Thursday, January 25 the price saw a loss of about -21.14%. Currently the company’s common shares owned by public are about 208.59M shares, out of which, 206.71M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 208 times over the past 12 months. They bought 542,455 shares in 133 of the transactions. In 75 selling transactions, insiders dumped 126,103 shares.
Vanguard Total Stock Market ETF, iShares Core S&P Mid Cap ETF, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Columbia Banking System, Inc. Vanguard Total Stock Market ETF is currently holding 6.54 million shares of worth totaling $174.56 million. The company recently came buying 6812.0 shares which brought its stake up to 3.14% of the company’s outstanding shares. iShares Core S&P Mid Cap ETF bought 5730.0 shares, after which its hold over company’s outstanding shares expand to 3.04%, leaving 6.34 million shares with the mutual fund that have a worth of about $169.08 million. Vanguard Small Cap Index Fund, after selling 5.31 million shares, have now control over 2.55% of the stake in the company. It holds 93488.0 shares of worth $141.72 million.
However, the stock later moved at a day high price of 22.00, or with a loss of -21.14%. Stock saw a price change of -17.93% in past 5 days and over the past one month there was a price change of -24.25%. Year-to-date (YTD), COLB shares are showing a performance of -24.36% which decreased to -31.24% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $17.54 but also hit the highest price of $33.24 during that period. The average intraday trading volume for Columbia Banking System, Inc. shares is 1.53 million. The stock is currently trading -21.43% below its 20-day simple moving average (SMA20), while that difference is down -18.03% for SMA50 and it goes to -7.13% lower than SMA200.
BlackRock Fund Advisors acquired 16.66 million shares of Columbia Banking System, Inc. having value of about $444.51 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.25 million shares in the company valued at close to $4985731.34, or have control over 1.51% stake in the company. Columbia Banking System, Inc. (NASDAQ: COLB) currently have 208.59M outstanding shares and institutions hold larger chunk of about 88.39% of that. Holding of mutual funds in the company is about 36.86% while other institutional holders and individual stake holders have control over 53.32% and 1.37% of the stake respectively.
The stock has a current market capitalization of $4.21B and its 3Y-monthly beta is at 0.73. PE ratio of stock for trailing 12 months is 12.22, while it has posted earnings per share of $1.65 in the same period. Its PEG reads 1.53 while making debt-to-equity ratio of 0.95. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for COLB, volatility over the week remained 4.60% while standing at 2.78% over the month.
Analysts are in expectations that Columbia Banking System, Inc. (COLB) stock would likely to be making an EPS of $0.75 in the current quarter, while forecast for next quarter EPS is $0.76 and it is $3.25 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.71 which is $0.81 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.46 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 2.02% while it is estimated to increase by 7.50% in next year. EPS is likely to grow at an annualized rate of 8.00% for next 5-years, compared to annual growth of -5.50% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Stephens on Jan-26-24 offering an Equal-weight rating for the stock and assigned a target price range of between $31 and $24 to it.
