BW Gestao de Investimentos Ltda. Takes Position in Columbia Banking System, Inc. $COLB

Key Points

• BW Gestao de Investimentos Ltda. disclosed a new stake in Columbia Banking System, buying 350,000 shares valued at about $9.78 million, or roughly 0.12% of the bank.
• Columbia Banking System recently reported better-than-expected quarterly earnings of $0.72 per share, beating estimates, while revenue came in slightly below forecasts. Revenue still rose 37.9% year over year.
• The company announced a quarterly dividend of $0.37 per share, implying an annualized yield of about 5.1%. Meanwhile, analysts currently have a consensus Hold rating on the stock.

BW Gestao de Investimentos Ltda. bought a new stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 350,000 shares of the financial services provider's stock, valued at approximately $9,782,000. BW Gestao de Investimentos Ltda. owned approximately 0.12% of Columbia Banking System at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. boosted its stake 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 purchasing an additional 794 shares during the last quarter. Horizon Investments LLC boosted its position in shares of 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 worth $34,000 after acquiring an additional 773 shares during the last quarter. Torren Management LLC acquired a new stake in shares of Columbia Banking System in the fourth quarter worth approximately $49,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Columbia Banking System in the fourth quarter worth approximately $58,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Columbia Banking System in the third quarter worth approximately $63,000. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Columbia Banking System Price Performance

Columbia Banking System stock opened at $29.00 on Tuesday. The company has a market cap of $8.40 billion, a PE ratio of 11.55 and a beta of 0.63. The company has a fifty day moving average price of $28.86 and a two-hundred day moving average price of $28.79. 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 released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.04. The firm had revenue of $675.00 million during the quarter, compared to the consensus estimate of $677.34 million. Columbia Banking System had a net margin of 19.28% and a return on equity of 11.41%. The firm's revenue was up 37.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.67 earnings per share. Equities research analysts anticipate that Columbia Banking System, Inc. will post 3.08 earnings per share for the current year.

Columbia Banking System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.48 annualized dividend and a dividend yield of 5.1%. Columbia Banking System's payout ratio is 58.96%.

Insiders Place Their Bets

In related news, VP Torran B. Nixon sold 2,240 shares of the company's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $28.85, for a total value of $64,624.00. Following the completion of the sale, the vice president owned 98,229 shares of the company's stock, valued at $2,833,906.65. This represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 3,388 shares of company stock valued at $94,736 over the last three months. Corporate insiders own 0.57% of the company's stock.

Analyst Ratings Changes

COLB has been the topic of several research analyst reports. Wall Street Zen cut shares of Columbia Banking System from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. JPMorgan Chase & Co. reduced their price target on shares of Columbia Banking System from $34.00 to $31.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 1st. 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. Piper Sandler lifted their price target on shares of Columbia Banking System from $34.00 to $36.00 and gave the company an "overweight" rating in a research report on Monday, April 27th. Finally, UBS Group initiated coverage on shares of Columbia Banking System in a research report on Tuesday, April 7th. They set a "neutral" rating and a $30.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $32.13.

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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