Ieq Capital LLC Invests $10.27 Million in Columbia Banking System, Inc. $COLB

Ieq Capital LLC acquired a new stake in Columbia Banking System, Inc. (NASDAQ:COLBFree Report) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 320,277 shares of the financial services provider’s stock, valued at approximately $10,265,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Columbia Banking System during the 2nd quarter worth $29,000. Cedar Mountain Advisors LLC raised its position in Columbia Banking System by 571.7% in the 1st quarter. Cedar Mountain Advisors LLC now owns 1,115 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 949 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Columbia Banking System by 194.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock valued at $30,000 after buying an additional 794 shares during the period. Horizon Investments LLC boosted its stake in shares of Columbia Banking System by 168.8% in the 4th quarter. Horizon Investments LLC now owns 1,231 shares of the financial services provider’s stock valued at $34,000 after buying an additional 773 shares during the period. Finally, Rossby Financial LCC acquired a new position in shares of Columbia Banking System during the fourth quarter worth about $36,000. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on COLB shares. Fundamental Research set a $35.00 price objective on shares of Columbia Banking System in a research report on Wednesday, July 1st. Zacks Research cut shares of Columbia Banking System from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. boosted their target price on shares of Columbia Banking System from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 1st. Wall Street Zen lowered Columbia Banking System from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Finally, Royal Bank Of Canada raised their price target on Columbia Banking System from $34.00 to $35.00 and gave the company a “sector perform” rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $33.35.

Check Out Our Latest Report on Columbia Banking System

Insider Activity at Columbia Banking System

In related news, CMO Devine David Moore sold 3,872 shares of Columbia Banking System stock in a transaction on Monday, June 8th. The shares were sold at an average price of $29.77, for a total transaction of $115,269.44. Following the sale, the chief marketing officer directly owned 18,636 shares in the company, valued at $554,793.72. This trade represents a 17.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.57% of the stock is owned by company insiders.

Columbia Banking System Stock Down 0.1%

Shares of COLB opened at $30.81 on Friday. The company has a market capitalization of $8.72 billion, a price-to-earnings ratio of 12.27, a price-to-earnings-growth ratio of 3.05 and a beta of 0.63. Columbia Banking System, Inc. has a 52-week low of $23.83 and a 52-week high of $33.67. The stock has a 50 day moving average price of $31.71 and a 200 day moving average price of $30.06.

Columbia Banking System (NASDAQ:COLBGet Free Report) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. The company had revenue of $677.00 million for the quarter, compared to analysts’ expectations of $687.40 million. Columbia Banking System had a net margin of 19.96% and a return on equity of 11.33%. During the same quarter last year, the company earned $0.76 earnings per share. On average, equities analysts anticipate that Columbia Banking System, Inc. will post 3.03 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 28th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Friday, August 28th. Columbia Banking System’s dividend payout ratio (DPR) is 58.96%.

Columbia Banking System Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding COLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Columbia Banking System, Inc. (NASDAQ:COLBFree Report).

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

Receive News & Ratings for Columbia Banking System Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbia Banking System and related companies with MarketBeat.com's FREE daily email newsletter.