International Assets Investment Management LLC Makes New Investment in Columbia Banking System, Inc. $COLB

Key Points

• International Assets Investment Management LLC opened a new position in Columbia Banking System during the fourth quarter, buying 38,250 shares worth about $1.07 million.
• Institutional interest remains high, with hedge funds and other investors owning 92.53% of the stock, while several firms either increased or adjusted their positions in recent quarters.
• Columbia Banking System recently reported better-than-expected earnings of $0.72 per share and continues to pay a quarterly dividend of $0.37, implying an annualized yield of about 4.9%.

International Assets Investment Management LLC acquired a new position in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 38,250 shares of the financial services provider's stock, valued at approximately $1,069,000.

Other institutional investors have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC raised its holdings in shares of Columbia Banking System by 63.0% in the fourth quarter. Sequoia Financial Advisors LLC now owns 23,099 shares of the financial services provider's stock valued at $646,000 after purchasing an additional 8,929 shares during the last quarter. Highland Capital Management LLC raised its holdings in shares of Columbia Banking System by 2.9% in the fourth quarter. Highland Capital Management LLC now owns 178,344 shares of the financial services provider's stock valued at $4,985,000 after purchasing an additional 5,041 shares during the last quarter. Horizon Investments LLC raised its holdings 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 valued at $34,000 after purchasing an additional 773 shares during the last quarter. Moody Aldrich Partners LLC raised its holdings in shares of Columbia Banking System by 21.7% in the fourth quarter. Moody Aldrich Partners LLC now owns 330,792 shares of the financial services provider's stock valued at $9,246,000 after purchasing an additional 59,073 shares during the last quarter. Finally, AMG National Trust Bank raised its holdings in shares of Columbia Banking System by 2.7% in the fourth quarter. AMG National Trust Bank now owns 65,965 shares of the financial services provider's stock valued at $1,844,000 after purchasing an additional 1,722 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Barclays reduced their price target on shares of Columbia Banking System from $30.00 to $29.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 7th. Weiss Ratings upgraded shares of Columbia Banking System from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, April 1st. Wall Street Zen lowered shares of Columbia Banking System from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. Royal Bank Of Canada increased their price target on shares of Columbia Banking System from $30.00 to $32.00 and gave the company a "sector perform" rating in a research report on Friday, January 23rd. Finally, Citigroup increased their price target on shares of Columbia Banking System from $30.00 to $32.00 and gave the company a "neutral" rating in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $31.73.

Insider Activity

In other news, VP Torran B. Nixon sold 2,241 shares of the firm's stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $28.25, for a total value of $63,308.25. Following the transaction, the vice president owned 100,469 shares in the company, valued at approximately $2,838,249.25. This trade represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 5,629 shares of company stock valued at $158,044 in the last quarter. 0.57% of the stock is currently owned by company insiders.

Columbia Banking System Trading Up 1.6%

Shares of NASDAQ:COLB opened at $30.04 on Friday. The company has a 50 day moving average of $28.26 and a 200 day moving average of $28.41. The stock has a market cap of $8.70 billion, a P/E ratio of 11.97 and a beta of 0.63. 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 announced its earnings results on Thursday, April 23rd. The financial services provider reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.04. The business had revenue of $675.00 million for 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%. Columbia Banking System's quarterly revenue was up 37.9% on a year-over-year basis. During the same period last year, the firm posted $0.67 earnings per share. On average, equities analysts forecast that Columbia Banking System, Inc. will post 3.08 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were issued a $0.37 dividend. The ex-dividend date was Friday, February 27th. This represents a $1.48 annualized dividend and a dividend yield of 4.9%. Columbia Banking System's dividend payout ratio (DPR) is currently 58.96%.

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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