EMC Capital Management Makes New Investment in Columbia Banking System, Inc. $COLB

EMC Capital Management acquired a new position in Columbia Banking System, Inc. (NASDAQ:COLB) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 11,553 shares of the financial services provider’s stock, valued at approximately $270,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Campbell & CO Investment Adviser LLC acquired a new position in Columbia Banking System during the second quarter valued at approximately $2,187,000. AlphaQuest LLC purchased a new position in shares of Columbia Banking System in the 2nd quarter valued at $687,000. Sequoia Financial Advisors LLC acquired a new position in shares of Columbia Banking System during the 2nd quarter valued at $289,000. Angel Oak Capital Advisors LLC lifted its holdings in shares of Columbia Banking System by 27.8% during the 2nd quarter. Angel Oak Capital Advisors LLC now owns 46,000 shares of the financial services provider’s stock valued at $1,075,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in Columbia Banking System by 33.6% during the 2nd quarter. Nordea Investment Management AB now owns 526,244 shares of the financial services provider’s stock worth $12,351,000 after purchasing an additional 132,489 shares during the period. 92.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COLB has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on Columbia Banking System from $28.00 to $31.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Citigroup raised their target price on Columbia Banking System from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Keefe, Bruyette & Woods raised Columbia Banking System from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $30.00 to $31.00 in a research report on Friday, October 10th. Cowen began coverage on shares of Columbia Banking System in a research report on Wednesday, September 24th. They issued a “hold” rating for the company. Finally, Piper Sandler set a $33.00 target price on shares of Columbia Banking System in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Columbia Banking System currently has a consensus rating of “Hold” and an average target price of $29.38.

Columbia Banking System Stock Up 0.2%

Shares of NASDAQ COLB opened at $25.80 on Wednesday. Columbia Banking System, Inc. has a fifty-two week low of $19.61 and a fifty-two week high of $32.85. The business has a 50 day moving average price of $26.06 and a two-hundred day moving average price of $25.06. The firm has a market cap of $7.72 billion, a PE ratio of 10.24 and a beta of 0.67.

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Monday, March 4th. The financial services provider reported $0.76 EPS for the quarter. The company had revenue of $348.47 million during the quarter. Columbia Banking System had a return on equity of 11.31% and a net margin of 17.98%. On average, analysts anticipate that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.48 annualized dividend and a yield of 5.7%. This is an increase from Columbia Banking System’s previous quarterly dividend of $0.36. Columbia Banking System’s dividend payout ratio (DPR) is 66.67%.

Columbia Banking System Profile

Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.