Quantinno Capital Management LP Purchases 117,442 Shares of Columbia Banking System, Inc. $COLB

Quantinno Capital Management LP lifted its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 12.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,066,686 shares of the financial services provider’s stock after purchasing an additional 117,442 shares during the period. Quantinno Capital Management LP’s holdings in Columbia Banking System were worth $29,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP increased its position in 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 increased its position in shares of Columbia Banking System by 140.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,666,769 shares of the financial services provider’s stock valued at $242,237,000 after purchasing an additional 5,063,212 shares during the last quarter. Norges Bank purchased a new stake in shares of Columbia Banking System during the 4th quarter valued at about $103,012,000. North Reef Capital Management LP lifted its stake in shares of Columbia Banking System by 3,600.0% in the 4th quarter. North Reef Capital Management LP now owns 3,700,000 shares of the financial services provider’s stock worth $103,415,000 after purchasing an additional 3,600,000 shares during the period. Finally, State Street Corp boosted its holdings in shares of 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 worth $345,113,000 after buying an additional 3,290,560 shares during the last quarter. Institutional investors own 92.53% of the company’s stock.

Analyst Ratings Changes

COLB has been the subject of several recent research reports. 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 report on Monday, April 27th. JPMorgan Chase & Co. increased their price target on shares of Columbia Banking System from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 1st. Barclays lifted their price target on shares of Columbia Banking System from $29.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Friday, July 24th. Keefe, Bruyette & Woods boosted their price objective on shares of Columbia Banking System from $34.00 to $35.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Finally, Wells Fargo & Company boosted their price objective on shares of 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. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $33.27.

Insiders Place Their Bets

In other Columbia Banking System news, CMO Devine David Moore sold 3,872 shares of the company’s stock in a transaction that occurred on 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.57% of the stock is owned by corporate insiders.

Columbia Banking System Stock Up 0.1%

NASDAQ COLB opened at $31.27 on Friday. Columbia Banking System, Inc. has a 52 week low of $22.77 and a 52 week high of $33.67. The company has a market capitalization of $9.05 billion, a P/E ratio of 12.46, a price-to-earnings-growth ratio of 3.10 and a beta of 0.62. The stock’s 50-day moving average price is $31.16 and its 200-day moving average price is $29.77.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.03. The company had revenue of $680.00 million during the quarter, compared to the consensus estimate of $687.40 million. Columbia Banking System had a return on equity of 11.33% and a net margin of 19.96%.During the same period in the previous year, the company posted $0.76 EPS. Research analysts anticipate that Columbia Banking System, Inc. will post 3.03 EPS for the current year.

Columbia Banking System Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders 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 annualized dividend and a yield of 4.7%. Columbia Banking System’s payout ratio is currently 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.