61,606 Shares in Columbia Banking System, Inc. $COLB Acquired by Landscape Capital Management L.L.C.

Key Points

• Landscape Capital Management opened a new position in Columbia Banking System, buying 61,606 shares valued at about $1.72 million in the fourth quarter.
• The company reported Q1 earnings of $0.72 per share, topping expectations, while revenue came in slightly below estimates at $675 million and rose 37.9% year over year.
• Columbia Banking System paid a quarterly dividend of $0.37, equal to an annualized yield of 4.8%; meanwhile, analysts currently have a consensus rating of Hold with a $32.13 price target.

Landscape Capital Management L.L.C. acquired a new position in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 61,606 shares of the financial services provider's stock, valued at approximately $1,722,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Columbia Banking System by 41.3% in the third quarter. Vanguard Group Inc. now owns 29,851,392 shares of the financial services provider's stock worth $768,375,000 after purchasing an additional 8,730,937 shares in the last quarter. Wellington Management Group LLP grew its stake in Columbia Banking System by 135.2% in the third quarter. Wellington Management Group LLP now owns 13,782,222 shares of the financial services provider's stock worth $354,754,000 after purchasing an additional 7,921,303 shares in the last quarter. State Street Corp grew its stake in 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 purchasing an additional 3,290,560 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Columbia Banking System by 68.1% in the third quarter. Dimensional Fund Advisors LP now owns 13,116,339 shares of the financial services provider's stock worth $337,611,000 after purchasing an additional 5,313,883 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Columbia Banking System by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,564,529 shares of the financial services provider's stock worth $351,179,000 after purchasing an additional 163,543 shares in the last quarter. Institutional investors own 92.53% of the company's stock.

Columbia Banking System Trading Down 1.1%

Shares of NASDAQ COLB opened at $30.95 on Tuesday. The stock has a market capitalization of $8.96 billion, a PE ratio of 12.33 and a beta of 0.63. The stock's fifty day simple moving average is $29.42 and its two-hundred day simple moving average is $29.02. Columbia Banking System, Inc. has a 12-month low of $21.91 and a 12-month high of $32.70.

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

Columbia Banking System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a $0.37 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.8%. Columbia Banking System's dividend payout ratio (DPR) is presently 58.96%.

Wall Street Analyst Weigh In

COLB has been the topic of several research analyst reports. Barclays dropped their price objective on Columbia Banking System from $30.00 to $29.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 7th. UBS Group started coverage on Columbia Banking System in a research note on Tuesday, April 7th. They issued a "neutral" rating and a $30.00 price objective on the stock. Weiss Ratings raised Columbia Banking System from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, April 1st. Wall Street Zen cut Columbia Banking System from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. Finally, Piper Sandler increased their target price on Columbia Banking System from $34.00 to $36.00 and gave the company an "overweight" rating in a research report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $32.13.

Insider Buying and Selling at Columbia Banking System

In other news, CMO Devine David Moore sold 3,872 shares of the firm's stock in a transaction 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 completion of the sale, the chief marketing officer 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.57% of the stock is owned by insiders.

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.

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