Susquehanna Fundamental Investments LLC Purchases 276,711 Shares of Columbia Banking System, Inc. $COLB

Key Points

• Susquehanna Fundamental Investments increased its Columbia Banking System stake by 1,039.6% in the second quarter, purchasing 276,711 shares to hold 303,329 shares valued at approximately $9.7 million. Institutional investors collectively own 92.53% of the company.
• Analysts maintain a generally cautious outlook, with the stock carrying a consensus rating of “Hold” and an average price target of $33.35. Recent target changes ranged from $30 to $36.
• Columbia Banking System reported quarterly EPS of $0.76, exceeding estimates by $0.03, and declared a quarterly dividend of $0.37, equivalent to an annualized yield of approximately 4.9%.

Susquehanna Fundamental Investments LLC boosted its position in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 1,039.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 303,329 shares of the financial services provider's stock after purchasing an additional 276,711 shares during the period. Susquehanna Fundamental Investments LLC owned about 0.11% of Columbia Banking System worth $9,722,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Columbia Banking System in the second quarter valued at approximately $29,000. Geneos Wealth Management Inc. increased its holdings in shares of Columbia Banking System by 194.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider's stock worth $30,000 after acquiring an additional 794 shares during the last quarter. Cedar Mountain Advisors LLC raised its stake in Columbia Banking System by 571.7% in the 1st quarter. Cedar Mountain Advisors LLC now owns 1,115 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 949 shares during the period. Northwestern Mutual Wealth Management Co. bought a new stake in Columbia Banking System in the 2nd quarter valued at $31,000. Finally, Horizon Investments LLC lifted its holdings in Columbia Banking System by 168.8% during the 4th 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. Institutional investors own 92.53% of the company's stock.

Analyst Ratings Changes

COLB has been the subject of a number of research analyst reports. Stephens lifted their price objective on shares of Columbia Banking System from $35.00 to $36.00 and gave the stock an "overweight" rating in a research report on Friday, July 24th. Wells Fargo & Company raised their target price on shares of Columbia Banking System from $32.00 to $34.00 and gave the stock an "equal weight" rating in a research note on Monday, August 10th. JPMorgan Chase & Co. lifted their target price on shares of Columbia Banking System from $31.00 to $35.00 and gave the stock a "neutral" rating in a report on Wednesday, July 1st. Weiss Ratings upgraded shares of Columbia Banking System from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, July 24th. Finally, Barclays lowered their price target on shares of Columbia Banking System from $31.00 to $30.00 and set an "equal weight" rating on the stock in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Columbia Banking System presently has an average rating of "Hold" and a consensus price target of $33.35.

Columbia Banking System Price Performance

Shares of NASDAQ:COLB opened at $30.07 on Monday. The company has a market capitalization of $8.51 billion, a P/E ratio of 11.98, a P/E/G ratio of 2.98 and a beta of 0.63. Columbia Banking System, Inc. has a 1 year low of $23.83 and a 1 year high of $33.67. The business's 50 day simple moving average is $31.71 and its 200 day simple moving average is $30.03.

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. On average, sell-side analysts anticipate that Columbia Banking System, Inc. will post 3.03 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 28th will be given a $0.37 dividend. The ex-dividend date is Friday, August 28th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.9%. Columbia Banking System's dividend payout ratio (DPR) is presently 58.96%.

Insider Buying and Selling

In related news, CMO Devine David Moore sold 3,872 shares of the company's stock in a transaction dated Monday, June 8th. The shares were 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 owned 18,636 shares of the company's stock, valued at $554,793.72. This represents a 17.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.57% of the stock is currently owned by company insiders.

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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