Hsbc Holdings PLC Has $356,000 Stake in Columbia Banking System, Inc. $COLB

Key Points

• Hsbc Holdings PLC cut its Columbia Banking System stake by 78.7% in the first quarter, selling 47,951 shares and retaining 12,967 shares valued at approximately $356,000. Institutional investors and hedge funds collectively own 92.53% of COLB.
• Columbia Banking System reported quarterly EPS of $0.76, beating analysts’ $0.73 estimate, while revenue of $680 million fell slightly short of expectations. Analysts maintain an average “Hold” rating with a consensus price target of $33.27.
• COLB shares opened at $31.27, with a market capitalization of $9.05 billion. The company pays a quarterly dividend of $0.37 per share, equating to an annualized $1.48 dividend and a 4.7% yield.

Hsbc Holdings PLC decreased its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 78.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 12,967 shares of the financial services provider's stock after selling 47,951 shares during the quarter. Hsbc Holdings PLC's holdings in Columbia Banking System were worth $356,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Mosaic Family Wealth Partners LLC bought a new stake in shares of Columbia Banking System in the first quarter valued at about $202,000. Oregon Public Employees Retirement Fund increased its stake in Columbia Banking System by 1.9% during the first quarter. Oregon Public Employees Retirement Fund now owns 60,588 shares of the financial services provider's stock valued at $1,662,000 after acquiring an additional 1,150 shares during the period. DGS Capital Management LLC increased its stake in Columbia Banking System by 11.3% during the first quarter. DGS Capital Management LLC now owns 8,651 shares of the financial services provider's stock valued at $237,000 after acquiring an additional 877 shares during the period. Praxis Investment Management Inc. acquired a new position in Columbia Banking System in the 1st quarter valued at approximately $210,000. Finally, HB Wealth Management LLC acquired a new position in Columbia Banking System in the 1st quarter valued at approximately $277,000. Institutional investors and hedge funds 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 firm's stock in a transaction on Monday, June 8th. The stock was sold at an average price of $29.77, for a total transaction of $115,269.44. Following the completion of the sale, the chief marketing officer directly 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 SEC, which is available at this hyperlink. 0.57% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Royal Bank Of Canada lifted their price objective on Columbia Banking System from $34.00 to $35.00 and gave the stock a "sector perform" rating in a report on Friday, July 24th. Stephens upped their target price on Columbia Banking System from $35.00 to $36.00 and gave the company an "overweight" rating in a research note on Friday, July 24th. Wells Fargo & Company raised their target price on Columbia Banking System from $30.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Monday, July 6th. Fundamental Research set a $35.00 price target on shares of Columbia Banking System in a report on Wednesday, July 1st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Columbia Banking System from $31.00 to $35.00 and gave the company a "neutral" rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $33.27.

Columbia Banking System Stock Up 0.1%

NASDAQ:COLB opened at $31.27 on Friday. The firm has a market cap of $9.05 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 3.10 and a beta of 0.62. Columbia Banking System, Inc. has a 12 month low of $22.77 and a 12 month high of $33.67. The company's 50-day moving average price is $31.16 and its two-hundred day moving average price is $29.77.

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 for the quarter, topping the consensus estimate of $0.73 by $0.03. Columbia Banking System had a net margin of 19.96% and a return on equity of 11.33%. The company had revenue of $680.00 million during the quarter, compared to analyst estimates of $687.40 million. During the same quarter last year, the business posted $0.76 earnings per share. On average, research analysts expect that Columbia Banking System, Inc. will post 3.02 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given a dividend of $0.37 per share. The ex-dividend date was Friday, May 29th. This represents a $1.48 dividend on an annualized basis and a yield of 4.7%. Columbia Banking System's dividend payout ratio is 58.96%.

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.

Want to see what other hedge funds are holding COLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Columbia Banking System, Inc. (NASDAQ:COLB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.