Leeward Investments LLC MA Decreases Stock Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Leeward Investments LLC MA lessened its position in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 4.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 965,611 shares of the financial services provider's stock after selling 43,225 shares during the period. Columbia Banking System accounts for about 1.3% of Leeward Investments LLC MA's portfolio, making the stock its 13th biggest holding. Leeward Investments LLC MA owned about 0.46% of Columbia Banking System worth $24,082,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new stake in Columbia Banking System during the fourth quarter worth approximately $29,000. SBI Securities Co. Ltd. acquired a new position in Columbia Banking System in the fourth quarter valued at approximately $32,000. UMB Bank n.a. lifted its stake in Columbia Banking System by 141.3% in the first quarter. UMB Bank n.a. now owns 1,636 shares of the financial services provider's stock valued at $41,000 after buying an additional 958 shares during the period. Meeder Asset Management Inc. acquired a new position in Columbia Banking System in the fourth quarter valued at approximately $42,000. Finally, Kapitalo Investimentos Ltda acquired a new position in Columbia Banking System in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 92.53% of the company's stock.

Wall Street Analysts Forecast Growth

COLB has been the topic of several recent analyst reports. Jefferies Financial Group initiated coverage on Columbia Banking System in a research note on Wednesday, May 21st. They issued a "hold" rating and a $27.00 price target on the stock. Wells Fargo & Company boosted their price target on Columbia Banking System from $26.00 to $29.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Raymond James Financial set a $27.00 price target on Columbia Banking System and gave the stock an "outperform" rating in a report on Thursday, April 24th. Wall Street Zen initiated coverage on Columbia Banking System in a report on Thursday, May 22nd. They issued a "hold" rating on the stock. Finally, DA Davidson increased their price target on Columbia Banking System from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Columbia Banking System currently has an average rating of "Hold" and an average target price of $29.29.

Columbia Banking System Price Performance

Shares of COLB stock traded down $0.46 during trading hours on Monday, reaching $25.09. The company had a trading volume of 3,008,688 shares, compared to its average volume of 1,819,991. Columbia Banking System, Inc. has a 12 month low of $19.18 and a 12 month high of $32.85. The business has a fifty day simple moving average of $23.68 and a 200-day simple moving average of $25.00. The company has a market cap of $5.27 billion, a price-to-earnings ratio of 10.63 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.04. The business had revenue of $481.92 million for the quarter, compared to analyst estimates of $482.86 million. Columbia Banking System had a return on equity of 11.12% and a net margin of 16.85%. Columbia Banking System's quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company posted $0.65 earnings per share. On average, equities research analysts expect that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.44 dividend on an annualized basis and a yield of 5.74%. Columbia Banking System's dividend payout ratio (DPR) is currently 61.02%.

Columbia Banking System 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.