UBS Group AG Has $119.18 Million Position in Columbia Banking System, Inc. $COLB

Key Points

• UBS Group AG boosted its stake in Columbia Banking System by 7.3% in Q4 to 4,263,924 shares, representing a $119.18 million position (about 1.43% of the company).
• Columbia beat Q earnings estimates with $0.72 EPS (vs. $0.68 expected) and revenue up 37.9% year-over-year, and it pays a quarterly dividend of $0.37 — a 5.0% yield (annualized $1.48; DPR ~59%).
• Institutional ownership is high at ~92.5%, while analysts hold a consensus "Hold" rating with an average target of $31.73; the stock trades in a 52-week range of $21.91–$32.70 and has a P/E of 11.78.

UBS Group AG grew its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 7.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,263,924 shares of the financial services provider's stock after acquiring an additional 291,806 shares during the period. UBS Group AG owned 1.43% of Columbia Banking System worth $119,177,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of COLB. AQR Capital Management LLC grew its holdings in Columbia Banking System by 35.4% during the 1st quarter. AQR Capital Management LLC now owns 56,675 shares of the financial services provider's stock worth $1,402,000 after acquiring an additional 14,824 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Columbia Banking System by 23.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 82,719 shares of the financial services provider's stock worth $2,063,000 after acquiring an additional 15,845 shares during the period. Millennium Management LLC grew its holdings in Columbia Banking System by 572.7% during the 1st quarter. Millennium Management LLC now owns 484,730 shares of the financial services provider's stock worth $12,089,000 after acquiring an additional 412,674 shares during the period. Goldman Sachs Group Inc. grew its holdings in Columbia Banking System by 28.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 492,775 shares of the financial services provider's stock worth $12,290,000 after acquiring an additional 108,994 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Columbia Banking System by 1.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 887,267 shares of the financial services provider's stock worth $22,128,000 after purchasing an additional 16,165 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Columbia Banking System

In other Columbia Banking System news, VP Torran B. Nixon sold 2,241 shares of Columbia Banking System stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $28.25, for a total transaction of $63,308.25. Following the transaction, the vice president owned 100,469 shares of the company's stock, valued at $2,838,249.25. This trade represents a 2.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 5,629 shares of company stock worth $158,044. 0.57% of the stock is owned by company insiders.

Columbia Banking System Stock Performance

Shares of NASDAQ COLB opened at $29.56 on Friday. Columbia Banking System, Inc. has a fifty-two week low of $21.91 and a fifty-two week high of $32.70. The stock has a market cap of $8.57 billion, a price-to-earnings ratio of 11.78 and a beta of 0.63. The firm's 50-day simple moving average is $28.31 and its 200 day simple moving average is $28.27.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. Columbia Banking System had a net margin of 19.28% and a return on equity of 11.41%. The business had revenue of $675.00 million for the quarter, compared to analysts' expectations of $677.34 million. During the same quarter last year, the firm earned $0.67 EPS. The firm's revenue for the quarter was up 37.9% compared to the same quarter last year. On average, sell-side analysts predict that Columbia Banking System, Inc. will post 3.08 EPS for the current year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.48 annualized dividend and a dividend yield of 5.0%. Columbia Banking System's dividend payout ratio (DPR) is currently 58.96%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on COLB shares. Wells Fargo & Company increased their price objective on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Monday, March 30th. Stephens increased their price objective on shares of Columbia Banking System from $35.00 to $37.00 and gave the stock an "overweight" rating in a research report on Friday, January 23rd. Piper Sandler increased their price objective on shares of Columbia Banking System from $34.00 to $36.00 and gave the stock an "overweight" rating in a research report on Monday. TD Cowen reissued a "hold" rating on shares of Columbia Banking System in a research report on Wednesday, January 7th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Columbia Banking System from $34.00 to $31.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 1st. 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $31.73.

Columbia Banking System Profile

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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