Systematic Financial Management LP increased its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB – Free Report) by 4.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,341,275 shares of the financial services provider’s stock after acquiring an additional 51,814 shares during the quarter. Systematic Financial Management LP owned about 0.46% of Columbia Banking System worth $36,791,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the company. BW Gestao de Investimentos Ltda. acquired a new stake in Columbia Banking System during the 4th quarter worth about $9,782,000. Easterly Investment Partners LLC lifted its holdings in shares of Columbia Banking System by 10.6% in the 4th quarter. Easterly Investment Partners LLC now owns 713,206 shares of the financial services provider’s stock valued at $19,934,000 after buying an additional 68,388 shares during the period. TD Asset Management Inc boosted its stake in shares of Columbia Banking System by 12.0% in the fourth quarter. TD Asset Management Inc now owns 461,928 shares of the financial services provider’s stock worth $12,911,000 after buying an additional 49,454 shares during the last quarter. Oak Thistle LLC purchased a new stake in shares of Columbia Banking System in the fourth quarter worth about $2,192,000. Finally, Norges Bank acquired a new stake in Columbia Banking System during the fourth quarter worth about $103,012,000. Institutional investors and hedge funds own 92.53% of the company’s stock.
Columbia Banking System Trading Down 1.1%
Shares of COLB opened at $32.26 on Friday. Columbia Banking System, Inc. has a 12 month low of $22.77 and a 12 month high of $33.67. The stock’s 50 day moving average is $30.94 and its two-hundred day moving average is $29.69. The firm has a market cap of $9.34 billion, a P/E ratio of 12.85, a PEG ratio of 2.22 and a beta of 0.62.
Columbia Banking System Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.6%. Columbia Banking System’s dividend payout ratio is presently 58.96%.
Columbia Banking System News Summary
Here are the key news stories impacting Columbia Banking System this week:
- Positive Sentiment: Columbia Banking System beat quarterly EPS estimates, reporting $0.76 per share versus the $0.73 consensus, and matched the prior-year EPS level. Article Title
- Positive Sentiment: The company said second-quarter results reflected “resilience” and disciplined execution, with net income of $208 million and operating net income of $217 million. Article Title
- Neutral Sentiment: Columbia Banking System’s return on equity was 11.41% and net margin was 19.28%, showing solid profitability metrics but not a major surprise for investors. Article Title
- Neutral Sentiment: The company’s earnings call transcript and press release may provide additional color on loan growth, deposits, and margin trends, which investors will be watching for signs of future performance. Article Title
- Negative Sentiment: Revenue came in below expectations at $680 million versus the $687.4 million consensus, which appears to be the main reason the stock is moving lower despite the EPS beat. Article Title
Insider Activity at Columbia Banking System
In other news, CMO Devine David Moore sold 3,872 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $29.77, for a total value of $115,269.44. Following the completion of the sale, the chief marketing officer directly owned 18,636 shares in the company, valued at $554,793.72. This represents a 17.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
COLB has been the subject of several recent research reports. Wells Fargo & Company lifted their price target on Columbia Banking System from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. Barclays dropped their price objective on shares of Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 7th. Fundamental Research set a $35.00 target price on shares of Columbia Banking System in a report on Wednesday, July 1st. Piper Sandler boosted their target price on shares of Columbia Banking System from $34.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Columbia Banking System in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.81.
Read Our Latest Stock Report on Columbia Banking System
About Columbia Banking System
Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.
The company’s offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.
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