141,398 Shares in Columbia Banking System, Inc. $COLB Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC acquired a new stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 141,398 shares of the financial services provider's stock, valued at approximately $3,879,000.

A number of other large investors have also bought and sold shares of COLB. AQR Capital Management LLC grew its stake in shares of Columbia Banking System by 35.4% during the 1st quarter. AQR Capital Management LLC now owns 56,675 shares of the financial services provider's stock worth $1,402,000 after acquiring an additional 14,824 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Columbia Banking System by 23.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 82,719 shares of the financial services provider's stock valued at $2,063,000 after acquiring an additional 15,845 shares during the period. Millennium Management LLC lifted its holdings in Columbia Banking System by 572.7% during the first quarter. Millennium Management LLC now owns 484,730 shares of the financial services provider's stock valued at $12,089,000 after purchasing an additional 412,674 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Columbia Banking System by 28.4% during the first quarter. Goldman Sachs Group Inc. now owns 492,775 shares of the financial services provider's stock valued at $12,290,000 after purchasing an additional 108,994 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Columbia Banking System by 1.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 887,267 shares of the financial services provider's stock worth $22,128,000 after purchasing an additional 16,165 shares during the period. 92.53% of the stock is owned by hedge funds and other institutional investors.

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 stock was sold at an average price of $29.77, for a total transaction of $115,269.44. Following the completion of the sale, the chief marketing officer owned 18,636 shares in the company, valued at approximately $554,793.72. This trade represents a 17.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.57% of the company's stock.

Columbia Banking System Trading Up 0.7%

Shares of Columbia Banking System stock opened at $31.24 on Friday. Columbia Banking System, Inc. has a 12-month low of $23.66 and a 12-month high of $33.67. The company has a market cap of $8.84 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 3.07 and a beta of 0.63. The company's 50-day moving average price is $31.32 and its 200-day moving average price is $29.87.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.73 by $0.03. Columbia Banking System had a net margin of 19.96% and a return on equity of 11.33%. The company had revenue of $677.00 million during the quarter, compared to analysts' expectations of $687.40 million. During the same quarter in the previous year, the company earned $0.76 earnings per share. On average, sell-side analysts predict that Columbia Banking System, Inc. will post 3.03 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid 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 dividend payout ratio (DPR) is currently 58.96%.

Analyst Upgrades and Downgrades

COLB has been the topic of several research reports. Barclays lowered their price target on shares of Columbia Banking System from $31.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Monday, August 3rd. Zacks Research downgraded shares of Columbia Banking System from a "hold" rating to a "strong sell" rating in a report on Friday, July 31st. Fundamental Research set a $35.00 price objective on shares of Columbia Banking System in a research note on Wednesday, July 1st. Royal Bank Of Canada boosted their target price 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. Finally, JPMorgan Chase & Co. increased their target price on Columbia Banking System from $31.00 to $35.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Columbia Banking System currently has a consensus rating of "Hold" and a consensus price target of $33.19.

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.

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