Hsbc Holdings PLC Raises Stake in Columbia Banking System, Inc. (NASDAQ:COLB)

Hsbc Holdings PLC boosted its position in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 124.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 20,491 shares of the financial services provider's stock after purchasing an additional 11,367 shares during the period. Hsbc Holdings PLC's holdings in Columbia Banking System were worth $553,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its stake in Columbia Banking System by 0.8% in the 4th quarter. American Century Companies Inc. now owns 7,602,571 shares of the financial services provider's stock valued at $205,345,000 after acquiring an additional 61,242 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Columbia Banking System by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,315,896 shares of the financial services provider's stock worth $197,602,000 after purchasing an additional 206,643 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Columbia Banking System by 10.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,514,816 shares of the financial services provider's stock valued at $148,956,000 after buying an additional 512,542 shares in the last quarter. Invesco Ltd. boosted its holdings in Columbia Banking System by 9.3% in the 4th quarter. Invesco Ltd. now owns 2,456,964 shares of the financial services provider's stock worth $66,363,000 after buying an additional 209,774 shares during the period. Finally, Norges Bank purchased a new position in Columbia Banking System in the 4th quarter valued at approximately $65,249,000. Hedge funds and other institutional investors own 92.53% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Citigroup decreased their target price on Columbia Banking System from $31.00 to $30.00 and set a "neutral" rating on the stock in a research note on Monday, January 27th. Barclays lifted their target price on shares of Columbia Banking System from $27.00 to $32.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. Piper Sandler lowered their price objective on shares of Columbia Banking System from $32.00 to $30.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Stephens cut their target price on shares of Columbia Banking System from $33.00 to $31.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 28th. Finally, StockNews.com started coverage on Columbia Banking System in a research report on Tuesday. They set a "hold" rating on the stock. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $29.85.

Insider Activity

In related news, VP Torran B. Nixon sold 4,481 shares of Columbia Banking System stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $25.99, for a total value of $116,461.19. Following the sale, the vice president now directly owns 104,869 shares in the company, valued at approximately $2,725,545.31. The trade was a 4.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.68% of the company's stock.

Columbia Banking System Price Performance

NASDAQ:COLB traded down $0.12 during trading hours on Friday, hitting $23.93. 1,584,470 shares of the company were exchanged, compared to its average volume of 1,771,902. The company's 50 day moving average price is $23.39 and its 200-day moving average price is $26.74. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 9.42 and a beta of 0.59. Columbia Banking System, Inc. has a 52-week low of $18.11 and a 52-week high of $32.85.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The financial services provider reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.04. The firm 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 11.21% and a net margin of 17.99%. Columbia Banking System's revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 earnings per share. On average, equities analysts predict that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 6.02%. Columbia Banking System's dividend payout ratio (DPR) is 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.