Columbia Banking System, Inc. (NASDAQ:COLB) Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC raised its stake in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 124.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,491 shares of the financial services provider's stock after acquiring 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.

Several other hedge funds have also bought and sold shares of COLB. Tidal Investments LLC lifted its position in Columbia Banking System by 1.1% during the third quarter. Tidal Investments LLC now owns 43,184 shares of the financial services provider's stock valued at $1,128,000 after purchasing an additional 464 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Columbia Banking System by 15.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 716,673 shares of the financial services provider's stock valued at $18,712,000 after buying an additional 97,498 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Columbia Banking System by 82.0% in the 4th quarter. Nordea Investment Management AB now owns 391,286 shares of the financial services provider's stock valued at $10,592,000 after acquiring an additional 176,334 shares during the last quarter. Range Financial Group LLC purchased a new position in Columbia Banking System in the fourth quarter worth about $1,866,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Columbia Banking System by 1.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 39,256 shares of the financial services provider's stock worth $1,025,000 after acquiring an additional 544 shares during the last quarter. Hedge funds and other institutional investors own 92.53% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on COLB. DA Davidson set a $25.00 price objective on Columbia Banking System and gave the company a "neutral" rating in a research note on Thursday, April 24th. StockNews.com initiated coverage on Columbia Banking System in a research report on Tuesday, May 6th. They issued a "hold" rating for the company. Keefe, Bruyette & Woods cut their price objective on shares of Columbia Banking System from $33.00 to $30.00 and set a "market perform" rating on the stock in a research report on Thursday, April 24th. Royal Bank of Canada lowered their target price on shares of Columbia Banking System from $32.00 to $27.00 and set a "sector perform" rating for the company in a report on Thursday, April 24th. Finally, Barclays increased their target price on Columbia Banking System from $27.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Columbia Banking System has a consensus rating of "Hold" and a consensus price target of $29.85.

Columbia Banking System Trading Up 5.6%

Shares of COLB traded up $1.35 during mid-day trading on Monday, hitting $25.28. The company's stock had a trading volume of 177,054 shares, compared to its average volume of 1,767,456. The company's 50-day moving average is $23.39 and its 200-day moving average is $26.73. Columbia Banking System, Inc. has a 52-week low of $18.11 and a 52-week high of $32.85. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of 9.99 and a beta of 0.59.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.04. The company had revenue of $481.92 million during 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 was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.65 earnings per share. As a group, sell-side analysts predict 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 declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.70%. The ex-dividend date was Friday, February 28th. Columbia Banking System's payout ratio is 61.02%.

Insider Transactions at Columbia Banking System

In related news, VP Torran B. Nixon sold 4,481 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $25.99, for a total transaction of $116,461.19. Following the completion of the sale, the vice president now owns 104,869 shares of the company's stock, valued at $2,725,545.31. This represents a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.68% of the company's stock.

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.