Columbia Banking System, Inc. $COLB Stock Holdings Raised by HoldCo Asset Management LP

HoldCo Asset Management LP increased its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 27.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,722,786 shares of the financial services provider’s stock after acquiring an additional 1,239,489 shares during the period. Columbia Banking System comprises 15.5% of HoldCo Asset Management LP’s portfolio, making the stock its 2nd biggest position. HoldCo Asset Management LP owned about 1.91% of Columbia Banking System worth $147,305,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. True Wealth Design LLC increased its stake in Columbia Banking System by 612.8% in the third quarter. True Wealth Design LLC now owns 1,005 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 864 shares during the period. West Oak Capital LLC bought a new stake in shares of Columbia Banking System during the third quarter worth $28,000. Quent Capital LLC purchased a new stake in shares of Columbia Banking System during the third quarter valued at $29,000. Geneos Wealth Management Inc. boosted its stake in shares of Columbia Banking System by 194.6% during the first quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 794 shares during the period. Finally, First Horizon Corp bought a new position in shares of Columbia Banking System in the third quarter worth about $31,000. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Columbia Banking System Price Performance

NASDAQ:COLB opened at $26.23 on Monday. Columbia Banking System, Inc. has a 1-year low of $19.61 and a 1-year high of $32.70. The company has a 50-day moving average of $29.48 and a 200 day moving average of $27.83. The firm has a market cap of $7.75 billion, a PE ratio of 11.61 and a beta of 0.60.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, January 22nd. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.10. Columbia Banking System had a net margin of 17.11% and a return on equity of 11.40%. The business had revenue of $715.00 million for the quarter, compared to the consensus estimate of $693.23 million. During the same quarter last year, the firm posted $0.71 EPS. Sell-side analysts anticipate that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be paid a dividend of $0.37 per share. The ex-dividend date is Friday, February 27th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.6%. Columbia Banking System’s dividend payout ratio (DPR) is currently 65.49%.

Analyst Ratings Changes

A number of brokerages recently weighed in on COLB. JPMorgan Chase & Co. lifted their price objective on shares of Columbia Banking System from $31.00 to $33.00 and gave the company a “neutral” rating in a report on Tuesday, December 16th. Piper Sandler upped their target price on shares of Columbia Banking System from $34.50 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, January 26th. Stephens raised their target price 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. Wall Street Zen raised shares of Columbia Banking System from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, UBS Group reiterated a “neutral” rating and issued a $33.00 price target on shares of Columbia Banking System in a report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $32.04.

Insider Activity at Columbia Banking System

In related 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 directly owned 100,469 shares of the company’s stock, valued at $2,838,249.25. This trade represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Steven R. Gardner sold 13,725 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $29.43, for a total transaction of $403,926.75. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 18,206 shares of company stock worth $531,859. 0.68% of the stock is currently owned by corporate insiders.

Columbia Banking System Company 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.