33,959 Shares in Columbia Banking System, Inc. $COLB Purchased by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Key Points

• Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Columbia Banking System during the first quarter, purchasing 33,959 shares valued at about $931,000.
• Institutional ownership remains very high, with hedge funds and other investors holding 92.53% of the company’s stock. At the same time, insider activity included a sale by CMO Devine David Moore of 3,872 shares.
• Columbia Banking System recently reported better-than-expected quarterly earnings of $0.72 per share and also paid a quarterly dividend of $0.37 per share, implying an annualized yield of 4.7%.

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 33,959 shares of the financial services provider's stock, valued at approximately $931,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geneos Wealth Management Inc. increased its stake in shares of Columbia Banking System by 194.6% during the first quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider's stock valued at $30,000 after buying an additional 794 shares during the period. Horizon Investments LLC raised its holdings in shares of Columbia Banking System by 168.8% during 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 in the last quarter. Rossby Financial LCC bought a new position in shares of Columbia Banking System during the fourth quarter valued at approximately $36,000. Hilton Head Capital Partners LLC purchased a new stake in Columbia Banking System in the fourth quarter worth $43,000. Finally, Atlas Capital Advisors Inc. purchased a new stake in Columbia Banking System in the fourth quarter worth $43,000. Institutional investors own 92.53% of the company's stock.

Insider Activity

In related 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 of the company's stock, valued at $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 is available at this hyperlink. 0.57% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company upped their price objective on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock an "equal weight" rating in a report on Monday, March 30th. Wall Street Zen lowered shares of Columbia Banking System from a "buy" rating to a "hold" rating in a research note on Saturday, April 25th. Piper Sandler lifted 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 note on Monday, April 27th. Barclays reduced their price target on shares of Columbia Banking System from $30.00 to $29.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 7th. Finally, UBS Group began coverage on shares of Columbia Banking System in a research note on Tuesday, April 7th. They issued a "neutral" rating and a $30.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $32.65.

Columbia Banking System Price Performance

Shares of COLB stock opened at $31.72 on Friday. The stock has a market cap of $9.18 billion, a price-to-earnings ratio of 12.64 and a beta of 0.62. The business's fifty day moving average is $30.13 and its 200 day moving average is $29.31. Columbia Banking System, Inc. has a twelve month low of $22.77 and a twelve month high of $32.77.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. Columbia Banking System had a return on equity of 11.41% and a net margin of 19.28%.The business had revenue of $675.00 million during the quarter, compared to analyst estimates of $677.34 million. During the same quarter last year, the firm posted $0.67 earnings per share. The company's revenue for the quarter was up 37.9% on a year-over-year basis. Equities research analysts expect that Columbia Banking System, Inc. will post 3.08 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

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

Columbia Banking System 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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