Hsbc Holdings PLC Has $3.75 Million Holdings in Columbia Banking System, Inc. $COLB

Key Points

• Hsbc Holdings PLC increased its Columbia Banking System stake by 799.8% in the second quarter, ending with 116,681 shares valued at approximately $3.75 million. Institutional investors and hedge funds own 92.53% of the company.
• Columbia Banking System reported quarterly EPS of $0.76, exceeding estimates of $0.73, while revenue of $677 million fell short of the $687.4 million consensus forecast.
• The company declared a quarterly dividend of $0.37 per share, equivalent to an annualized $1.48 payout and a 4.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $33.62.

Hsbc Holdings PLC raised its holdings in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 799.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 116,681 shares of the financial services provider's stock after buying an additional 103,714 shares during the period. Hsbc Holdings PLC's holdings in Columbia Banking System were worth $3,750,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Columbia Banking System during the 2nd quarter valued at $29,000. Geneos Wealth Management Inc. increased its holdings in shares of Columbia Banking System by 194.6% in the first quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 794 shares during the last quarter. Cedar Mountain Advisors LLC increased its holdings in shares of Columbia Banking System by 571.7% in the first quarter. Cedar Mountain Advisors LLC now owns 1,115 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 949 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of Columbia Banking System in the second quarter valued at about $31,000. Finally, Rossby Financial LCC acquired a new stake in shares of Columbia Banking System during the 4th quarter worth about $36,000. 92.53% of the stock is owned by institutional investors and hedge funds.

Columbia Banking System Trading Up 0.7%

Shares of COLB stock opened at $30.04 on Friday. The stock has a market cap of $8.50 billion, a P/E ratio of 11.97, a price-to-earnings-growth ratio of 2.96 and a beta of 0.62. The stock has a 50 day simple moving average of $31.41 and a 200 day simple moving average of $29.94. Columbia Banking System, Inc. has a 1 year low of $23.83 and a 1 year high of $33.67.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.03. The firm had revenue of $677.00 million during the quarter, compared to analysts' expectations of $687.40 million. Columbia Banking System had a return on equity of 11.33% and a net margin of 19.96%.During the same period in the previous year, the firm earned $0.76 EPS. Analysts forecast that Columbia Banking System, Inc. will post 3.03 EPS for the current year.

Columbia Banking System Dividend Announcement

The company also recently disclosed 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 of this dividend is Friday, August 28th. This represents a $1.48 annualized dividend and a yield of 4.9%. Columbia Banking System's dividend payout ratio is currently 58.96%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Royal Bank Of Canada lifted their target price on shares of Columbia Banking System from $34.00 to $35.00 and gave the stock a "sector perform" rating in a report on Friday, July 24th. Wells Fargo & Company raised their price objective on shares of 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. Zacks Research upgraded Columbia Banking System from a "strong sell" rating to a "hold" rating in a report on Monday, August 31st. Barclays decreased their target price on Columbia Banking System from $31.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Monday, August 3rd. Finally, JPMorgan Chase & Co. lifted their price target on Columbia Banking System from $31.00 to $35.00 and gave the stock a "neutral" rating in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Columbia Banking System currently has an average rating of "Moderate Buy" and an average target price of $33.62.

Columbia Banking System Profile

Columbia Banking System, Inc is a regional bank holding company headquartered in Tacoma, Washington. Through its principal subsidiary, Columbia Bank, the company provides banking and financial services to individuals, families, businesses, professionals and public-sector organizations.

Its products and services include consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, lines of credit, treasury management, wealth management, mortgage services and digital banking.

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