EP Wealth Advisors LLC purchased a new stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 64,751 shares of the financial services provider's stock, valued at approximately $2,075,000.
Other large investors have also added to or reduced their stakes in the company. BW Gestao de Investimentos Ltda. purchased a new stake in shares of Columbia Banking System during the fourth quarter worth about $9,782,000. Easterly Investment Partners LLC increased its holdings in Columbia Banking System by 10.6% during the 4th quarter. Easterly Investment Partners LLC now owns 713,206 shares of the financial services provider's stock valued at $19,934,000 after purchasing an additional 68,388 shares during the period. TD Asset Management Inc increased its holdings in Columbia Banking System by 12.0% during the 4th quarter. TD Asset Management Inc now owns 461,928 shares of the financial services provider's stock valued at $12,911,000 after purchasing an additional 49,454 shares during the period. Fifth Third Bancorp raised its position in Columbia Banking System by 3,617.7% during the 1st quarter. Fifth Third Bancorp now owns 75,469 shares of the financial services provider's stock valued at $2,070,000 after purchasing an additional 73,439 shares during the last quarter. Finally, Pzena Investment Management LLC raised its position in Columbia Banking System by 12.7% during the 1st quarter. Pzena Investment Management LLC now owns 2,033,219 shares of the financial services provider's stock valued at $55,771,000 after purchasing an additional 228,825 shares during the last quarter. Institutional investors own 92.53% of the company's stock.
Insiders Place Their Bets
In related news, CMO Devine David Moore sold 3,872 shares of the company'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 sale, the chief marketing officer directly owned 18,636 shares of the company's stock, valued at $554,793.72. This represents a 17.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is currently owned by insiders.
Analyst Ratings Changes
COLB has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on Columbia Banking System from $32.00 to $34.00 and gave the stock an "equal weight" rating in a research report on Monday, August 10th. Keefe, Bruyette & Woods raised their price target 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. Royal Bank Of Canada lifted their price target on shares of Columbia Banking System from $34.00 to $35.00 and gave the company a "sector perform" rating in a report on Friday, July 24th. Piper Sandler boosted their price objective 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, Weiss Ratings upgraded shares of Columbia Banking System from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $33.35.
Read Our Latest Analysis on Columbia Banking System
Columbia Banking System Stock Performance
Columbia Banking System stock opened at $30.81 on Friday. The stock's 50 day simple moving average is $31.71 and its two-hundred day simple moving average is $30.06. The stock has a market cap of $8.72 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 3.05 and a beta of 0.63. Columbia Banking System, Inc. has a fifty-two week low of $23.83 and a fifty-two week high of $33.67.
Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $677.00 million for the quarter, compared to the consensus estimate of $687.40 million. During the same quarter in the prior year, the business earned $0.76 EPS. On average, analysts predict that Columbia Banking System, Inc. will post 3.03 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, September 14th. Investors of record on Friday, August 28th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, August 28th. This represents a $1.48 annualized dividend and a dividend yield of 4.8%. Columbia Banking System's payout ratio is currently 58.96%.
About Columbia Banking System
(
Free Report)
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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