Columbia Banking System, Inc. $COLB Shares Purchased by Systematic Financial Management LP

Systematic Financial Management LP increased its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 4.0% during the first quarter, HoldingsChannel.com reports. The institutional investor 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’s holdings in Columbia Banking System were worth $36,791,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. TD Waterhouse Canada Inc. increased its stake in shares of Columbia Banking System by 6.2% in the 4th quarter. TD Waterhouse Canada Inc. now owns 5,949 shares of the financial services provider’s stock worth $166,000 after acquiring an additional 348 shares during the last quarter. Hilton Head Capital Partners LLC boosted its position in shares of Columbia Banking System by 25.8% during the 1st quarter. Hilton Head Capital Partners LLC now owns 1,945 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 399 shares during the last quarter. State of Michigan Retirement System grew its holdings in shares of Columbia Banking System by 0.6% in the first quarter. State of Michigan Retirement System now owns 71,041 shares of the financial services provider’s stock valued at $1,949,000 after purchasing an additional 400 shares during the period. Kera Capital Partners Inc. grew its holdings in shares of Columbia Banking System by 5.7% in the first quarter. Kera Capital Partners Inc. now owns 7,894 shares of the financial services provider’s stock valued at $217,000 after purchasing an additional 425 shares during the period. Finally, Quadrant Capital Group LLC increased its position in Columbia Banking System by 1.2% during the fourth quarter. Quadrant Capital Group LLC now owns 38,350 shares of the financial services provider’s stock worth $1,072,000 after purchasing an additional 444 shares during the last quarter. 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. The company’s 50-day moving average price is $30.94 and its 200 day moving average price is $29.69. Columbia Banking System, Inc. has a 12-month low of $22.77 and a 12-month high of $33.67. The firm has a market cap of $9.34 billion, a P/E ratio of 12.85, a price-to-earnings-growth ratio of 2.22 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.03. Columbia Banking System had a net margin of 19.28% and a return on equity of 11.41%. The company had revenue of $680.00 million during the quarter, compared to analyst estimates of $687.40 million. During the same quarter last year, the firm posted $0.76 earnings per share. Equities research analysts forecast that Columbia Banking System, Inc. will post 3.05 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Friday, May 29th. Columbia Banking System’s dividend payout ratio is currently 58.96%.

More Columbia Banking System News

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 Buying and Selling at Columbia Banking System

In related news, CMO Devine David Moore sold 3,872 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief marketing officer owned 18,636 shares of the company’s stock, valued at approximately $554,793.72. This trade represents a 17.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

COLB has been the topic of a number of analyst reports. UBS Group initiated coverage on shares of Columbia Banking System in a research note on Tuesday, April 7th. They set a “neutral” rating and a $30.00 target price on the stock. Wall Street Zen downgraded shares of Columbia Banking System from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Fundamental Research set a $35.00 price target on shares of Columbia Banking System in a report on Wednesday, July 1st. Piper Sandler lifted their price target on shares of Columbia Banking System from $34.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Finally, JPMorgan Chase & Co. upped their price objective on Columbia Banking System from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, Columbia Banking System has a consensus rating of “Hold” and a consensus target price of $32.81.

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.