WINTON GROUP Ltd Makes New $11.84 Million Investment in Columbia Banking System, Inc. $COLB

Key Points

• WINTON GROUP Ltd opened a new position in Columbia Banking System during Q4, buying 423,672 shares worth about $11.84 million and representing roughly 0.14% of the company.
• Columbia Banking System reported better-than-expected quarterly EPS of $0.72 versus $0.68 expected, while revenue came in close to estimates at $675 million and rose 37.9% year over year.
• The bank announced a quarterly dividend of $0.37 per share, equal to a 5.0% annualized yield; meanwhile, analysts mostly remain cautious, with an average rating of Hold and an average price target of $32.13.

WINTON GROUP Ltd acquired a new position in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 423,672 shares of the financial services provider's stock, valued at approximately $11,842,000. WINTON GROUP Ltd owned about 0.14% of Columbia Banking System as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Columbia Banking System by 41.3% in the 3rd quarter. Vanguard Group Inc. now owns 29,851,392 shares of the financial services provider's stock valued at $768,375,000 after purchasing an additional 8,730,937 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Columbia Banking System by 135.2% in the 3rd quarter. Wellington Management Group LLP now owns 13,782,222 shares of the financial services provider's stock valued at $354,754,000 after purchasing an additional 7,921,303 shares during the last quarter. State Street Corp lifted its stake in shares of Columbia Banking System by 32.5% in the 3rd quarter. State Street Corp now owns 13,407,671 shares of the financial services provider's stock valued at $345,113,000 after purchasing an additional 3,290,560 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Columbia Banking System by 68.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 13,116,339 shares of the financial services provider's stock valued at $337,611,000 after purchasing an additional 5,313,883 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Columbia Banking System by 11.9% in the 3rd quarter. American Century Companies Inc. now owns 10,016,178 shares of the financial services provider's stock valued at $257,816,000 after purchasing an additional 1,067,491 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company's stock.

Columbia Banking System Trading Up 0.5%

COLB opened at $29.66 on Friday. The stock's 50-day moving average price is $29.04 and its 200 day moving average price is $28.84. Columbia Banking System, Inc. has a 12-month low of $21.91 and a 12-month high of $32.70. The firm has a market cap of $8.59 billion, a price-to-earnings ratio of 11.82 and a beta of 0.63.

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

Columbia Banking System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.48 annualized dividend and a yield of 5.0%. Columbia Banking System's dividend payout ratio is presently 58.96%.

Analyst Ratings Changes

Several equities analysts have recently commented on COLB shares. Wall Street Zen lowered Columbia Banking System from a "buy" rating to a "hold" rating in a research note on Saturday, April 25th. UBS Group started coverage on Columbia Banking System in a research note on Tuesday, April 7th. They issued a "neutral" rating and a $30.00 price target on the stock. Barclays decreased their price target on Columbia Banking System from $30.00 to $29.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 7th. JPMorgan Chase & Co. decreased their price target on Columbia Banking System from $34.00 to $31.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 1st. Finally, Citigroup upped their price target on Columbia Banking System from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Columbia Banking System presently has an average rating of "Hold" and an average price target of $32.13.

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.

Want to see what other hedge funds are holding COLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Columbia Banking System, Inc. (NASDAQ:COLB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.