Susquehanna Fundamental Investments LLC Has $9.72 Million Stock Position in Columbia Banking System, Inc. $COLB

Susquehanna Fundamental Investments LLC raised its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 1,039.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 303,329 shares of the financial services provider’s stock after purchasing an additional 276,711 shares during the quarter. Susquehanna Fundamental Investments LLC’s holdings in Columbia Banking System were worth $9,722,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of COLB. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Columbia Banking System in the 2nd quarter valued at $29,000. Geneos Wealth Management Inc. lifted its position in shares of Columbia Banking System by 194.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock worth $30,000 after buying an additional 794 shares during the last quarter. Cedar Mountain Advisors LLC boosted its stake in Columbia Banking System by 571.7% in the first quarter. Cedar Mountain Advisors LLC now owns 1,115 shares of the financial services provider’s stock valued at $31,000 after buying an additional 949 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in Columbia Banking System in the second quarter valued at about $31,000. Finally, Horizon Investments LLC grew its position in Columbia Banking System by 168.8% in the fourth quarter. Horizon Investments LLC now owns 1,231 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 773 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Weiss Ratings raised Columbia Banking System from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. raised their price target on shares of Columbia Banking System from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Wednesday, July 1st. Royal Bank Of Canada lifted their price target on shares of Columbia Banking System from $34.00 to $35.00 and gave the company a “sector perform” rating in a report on Friday, July 24th. Zacks Research downgraded shares of Columbia Banking System from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. Finally, Keefe, Bruyette & Woods increased 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 note on Friday, July 24th. One 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, the company presently has an average rating of “Hold” and an average target price of $33.35.

Columbia Banking System Stock Performance

Shares of COLB stock opened at $30.07 on Monday. Columbia Banking System, Inc. has a 1-year low of $23.83 and a 1-year high of $33.67. The stock has a market cap of $8.51 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 2.98 and a beta of 0.63. The stock has a 50-day moving average of $31.71 and a 200-day moving average of $30.03.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.76 EPS 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 previous year, the firm earned $0.76 earnings per share. Sell-side analysts forecast that Columbia Banking System, Inc. will post 3.03 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, August 28th will be given a $0.37 dividend. The ex-dividend date is Friday, August 28th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.9%. Columbia Banking System’s payout ratio is 58.96%.

Insider Activity

In other news, CMO Devine David Moore sold 3,872 shares of the company’s stock in a transaction 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 sale, the chief marketing officer directly owned 18,636 shares of the company’s stock, valued at approximately $554,793.72. This represents a 17.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.57% of the company’s stock.

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.