Leeward Investments LLC MA Sells 43,225 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

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

Other hedge funds also recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new stake in Columbia Banking System in the 4th quarter valued at approximately $296,000. Smartleaf Asset Management LLC grew its holdings in Columbia Banking System by 62.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,038 shares of the financial services provider's stock valued at $55,000 after buying an additional 780 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Columbia Banking System in the 4th quarter valued at approximately $32,000. Charles Schwab Investment Management Inc. grew its holdings in Columbia Banking System by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,315,896 shares of the financial services provider's stock valued at $197,602,000 after buying an additional 206,643 shares during the last quarter. Finally, Keybank National Association OH acquired a new stake in Columbia Banking System in the 4th quarter valued at approximately $242,000. 92.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on COLB shares. Keefe, Bruyette & Woods reduced their target price on shares of Columbia Banking System from $33.00 to $30.00 and set a "market perform" rating for the company in a research note on Thursday, April 24th. Raymond James Financial set a $27.00 price objective on Columbia Banking System and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Jefferies Financial Group began coverage on Columbia Banking System in a report on Wednesday, May 21st. They set a "hold" rating and a $27.00 price objective on the stock. DA Davidson upped their target price on Columbia Banking System from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. Finally, Piper Sandler decreased their price target on shares of Columbia Banking System from $32.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Columbia Banking System currently has a consensus rating of "Hold" and an average target price of $29.29.

Columbia Banking System Price Performance

Shares of COLB stock traded up $0.38 during trading hours on Friday, hitting $25.45. 2,244,870 shares of the company's stock were exchanged, compared to its average volume of 1,818,652. The stock's 50-day moving average is $23.62 and its 200-day moving average is $25.05. The stock has a market cap of $5.35 billion, a price-to-earnings ratio of 10.78 and a beta of 0.62. Columbia Banking System, Inc. has a 52 week low of $19.08 and a 52 week high of $32.85.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.63 by $0.04. Columbia Banking System had a return on equity of 11.12% and a net margin of 16.85%. The company had revenue of $481.92 million for the quarter, compared to analysts' expectations of $482.86 million. During the same quarter in the prior year, the business earned $0.65 earnings per share. The business's revenue for the quarter was up 3.7% on a year-over-year basis. Equities research analysts forecast that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were given a dividend of $0.36 per share. The ex-dividend date was Friday, May 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.66%. Columbia Banking System's payout ratio is currently 61.02%.

Columbia Banking System Company 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.