Caxton Associates LLP Invests $1.15 Million in Columbia Banking System, Inc. $COLB

Key Points

• Caxton Associates LLP has invested approximately $1.15 million in Columbia Banking System by purchasing 46,114 shares, marking a significant addition to their portfolio.
• A variety of institutional investors have increased their stakes in Columbia Banking System, with notable increases from Goldman Sachs and others, indicating growing confidence in the company.
• Columbia Banking System declared a quarterly dividend of $0.36 per share, which reflects a strong annualized yield of 5.5% and underscores the company's favorable financial performance.

Caxton Associates LLP purchased a new position in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 46,114 shares of the financial services provider's stock, valued at approximately $1,150,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COLB. Goldman Sachs Group Inc. raised its stake in shares of Columbia Banking System by 28.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 492,775 shares of the financial services provider's stock valued at $12,290,000 after acquiring an additional 108,994 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Columbia Banking System by 15,995.1% in the 1st quarter. Jones Financial Companies Lllp now owns 162,882 shares of the financial services provider's stock valued at $4,062,000 after acquiring an additional 161,870 shares in the last quarter. Millennium Management LLC raised its stake in shares of Columbia Banking System by 572.7% in the 1st quarter. Millennium Management LLC now owns 484,730 shares of the financial services provider's stock valued at $12,089,000 after acquiring an additional 412,674 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of 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 in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Columbia Banking System by 35.4% in the 1st quarter. AQR Capital Management LLC now owns 56,675 shares of the financial services provider's stock valued at $1,402,000 after acquiring an additional 14,824 shares in the last quarter. 92.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on Columbia Banking System from $27.00 to $28.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. DA Davidson raised their price objective on Columbia Banking System from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. Barclays raised their price objective on Columbia Banking System from $27.00 to $30.00 and gave the company an "equal weight" rating in a research note on Monday, July 28th. Zacks Research raised Columbia Banking System to a "strong-buy" rating in a research note on Monday, August 11th. Finally, Wall Street Zen initiated coverage on Columbia Banking System in a research note on Thursday, May 22nd. They issued a "hold" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, Columbia Banking System currently has an average rating of "Hold" and a consensus price target of $29.07.

Columbia Banking System Stock Down 3.6%

COLB opened at $25.96 on Wednesday. The firm has a market capitalization of $5.46 billion, a P/E ratio of 10.30 and a beta of 0.66. The stock's 50 day moving average price is $25.24 and its two-hundred day moving average price is $24.25. Columbia Banking System, Inc. has a 12-month low of $19.61 and a 12-month high of $32.85.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.10. Columbia Banking System had a return on equity of 11.31% and a net margin of 17.98%.The firm had revenue of $511.55 million for the quarter, compared to analyst estimates of $492.00 million. During the same quarter last year, the firm posted $0.67 EPS. The company's revenue was up 8.2% on a year-over-year basis. As a group, analysts anticipate that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Friday, August 29th. Columbia Banking System's dividend payout ratio (DPR) is presently 57.14%.

Columbia Banking System Company Profile

Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.

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