53,355 Shares in Columbia Banking System, Inc. $COLB Bought by Corient Private Wealth LP

Corient Private Wealth LP purchased a new stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 53,355 shares of the financial services provider's stock, valued at approximately $1,710,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Columbia Banking System during the 2nd quarter worth about $29,000. Geneos Wealth Management Inc. grew 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 valued at $30,000 after acquiring an additional 794 shares during the period. Cedar Mountain Advisors LLC increased its stake in shares of Columbia Banking System by 571.7% in the 1st quarter. Cedar Mountain Advisors LLC now owns 1,115 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 949 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in Columbia Banking System in the 2nd quarter worth about $31,000. Finally, Horizon Investments LLC raised its holdings in Columbia Banking System by 168.8% in the 4th quarter. Horizon Investments LLC now owns 1,231 shares of the financial services provider's stock worth $34,000 after purchasing an additional 773 shares during the period. Hedge funds and other institutional investors own 92.53% of the company's stock.

Columbia Banking System Stock Up 1.2%

COLB opened at $30.45 on Friday. The company has a market cap of $8.61 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 2.98 and a beta of 0.62. Columbia Banking System, Inc. has a twelve month low of $23.83 and a twelve month high of $33.67. The company has a 50-day moving average price of $31.58 and a 200 day moving average price of $29.98.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $687.40 million. During the same period in the previous year, the firm posted $0.76 EPS. As a group, sell-side analysts expect 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 announced 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. This represents a $1.48 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Friday, August 28th. Columbia Banking System's dividend payout ratio (DPR) is 58.96%.

Analyst Upgrades and Downgrades

COLB has been the topic of a number of recent analyst reports. Zacks Research upgraded Columbia Banking System from a "strong sell" rating to a "hold" rating in a research report on Monday. JPMorgan Chase & Co. boosted their price objective on Columbia Banking System from $31.00 to $35.00 and gave the company a "neutral" rating in a research report on Wednesday, July 1st. Keefe, Bruyette & Woods upped their target price on Columbia Banking System from $34.00 to $35.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. DA Davidson upgraded Columbia Banking System from a "neutral" rating to a "buy" rating and increased their target price for the company from $33.00 to $36.00 in a research report on Tuesday. Finally, Fundamental Research set a $35.00 price target on shares of Columbia Banking System in a research note on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.62.

Insider Activity

In other news, CMO David Moore Devine sold 3,872 shares of Columbia Banking System stock in a transaction that occurred on Monday, June 8th. The stock was 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 $554,793.72. The trade was a 17.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.57% of the stock is owned by corporate insiders.

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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