26,900 Shares in Columbia Banking System, Inc. $COLB Acquired by Revolve Wealth Partners LLC

Revolve Wealth Partners LLC bought a new position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) during the second quarter, Holdings Channel reports. The fund bought 26,900 shares of the financial services provider’s stock, valued at approximately $862,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of Columbia Banking System by 135.2% during the third quarter. Wellington Management Group LLP now owns 13,782,222 shares of the financial services provider’s stock valued at $354,754,000 after acquiring an additional 7,921,303 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Columbia Banking System by 140.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,666,769 shares of the financial services provider’s stock worth $242,237,000 after purchasing an additional 5,063,212 shares during the last quarter. Norges Bank bought a new stake in shares of Columbia Banking System in the fourth quarter worth $103,012,000. North Reef Capital Management LP increased its holdings in Columbia Banking System by 3,600.0% in the fourth quarter. North Reef Capital Management LP now owns 3,700,000 shares of the financial services provider’s stock valued at $103,415,000 after purchasing an additional 3,600,000 shares during the period. Finally, State Street Corp increased its holdings in Columbia Banking System by 32.5% in the third quarter. State Street Corp now owns 13,407,671 shares of the financial services provider’s stock valued at $345,113,000 after purchasing an additional 3,290,560 shares during the period. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CMO Devine David Moore sold 3,872 shares of Columbia Banking System stock in a transaction dated 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 directly owned 18,636 shares in the company, valued at $554,793.72. This trade 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 through this hyperlink. 0.57% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada raised their price objective on Columbia Banking System from $34.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Friday, July 24th. Zacks Research lowered shares of Columbia Banking System from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. Keefe, Bruyette & Woods increased their price objective on shares of Columbia Banking System from $34.00 to $35.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Wall Street Zen downgraded Columbia Banking System from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Finally, Barclays lowered their price objective on shares of Columbia Banking System from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $33.35.

Columbia Banking System Stock Up 0.1%

NASDAQ COLB opened at $31.26 on Tuesday. The company has a market cap of $8.84 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 3.09 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 business has a 50 day moving average price of $31.37 and a 200-day moving average price of $29.90.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results 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. Columbia Banking System had a return on equity of 11.33% and a net margin of 19.96%.The company had revenue of $677.00 million for the quarter, compared to analyst estimates of $687.40 million. During the same period in the prior year, the firm earned $0.76 earnings per share. On average, equities research analysts anticipate that Columbia Banking System, Inc. will post 3.03 earnings per share for the current year.

Columbia Banking System Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend was Friday, May 29th. Columbia Banking System’s dividend payout ratio (DPR) is 58.96%.

Columbia Banking System Company Profile

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.