Sei Investments Co. Has $19.69 Million Stock Position in Columbia Banking System, Inc. $COLB

Sei Investments Co. increased its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 13.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 717,785 shares of the financial services provider’s stock after purchasing an additional 82,379 shares during the period. Sei Investments Co. owned approximately 0.25% of Columbia Banking System worth $19,689,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geneos Wealth Management Inc. grew its stake in 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 worth $30,000 after buying an additional 794 shares in the last quarter. Cedar Mountain Advisors LLC raised its position in shares of Columbia Banking System by 571.7% in the 1st quarter. Cedar Mountain Advisors LLC now owns 1,115 shares of the financial services provider’s stock valued at $31,000 after buying an additional 949 shares in the last quarter. Horizon Investments LLC lifted its holdings in shares of Columbia Banking System by 168.8% during the 4th quarter. Horizon Investments LLC now owns 1,231 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 773 shares during the period. Rossby Financial LCC bought a new stake in shares of Columbia Banking System during the 4th quarter worth approximately $36,000. Finally, Hilton Head Capital Partners LLC acquired a new stake in shares of Columbia Banking System during the 4th quarter worth approximately $43,000. Institutional investors own 92.53% of the company’s stock.

Insider Buying and Selling

In other news, CMO Devine David Moore sold 3,872 shares of Columbia Banking System stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $29.77, for a total transaction of $115,269.44. Following the sale, the chief marketing officer directly owned 18,636 shares of the company’s stock, valued at approximately $554,793.72. This trade represents a 17.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.57% of the company’s stock.

Columbia Banking System Price Performance

Shares of NASDAQ:COLB opened at $30.78 on Thursday. Columbia Banking System, Inc. has a one year low of $22.77 and a one year high of $33.67. The company has a market cap of $8.91 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 2.14 and a beta of 0.62. The firm has a 50 day simple moving average of $31.10 and a 200 day simple moving average of $29.75.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. The firm had revenue of $680.00 million for the quarter, compared to analysts’ expectations of $687.40 million. Columbia Banking System had a net margin of 19.96% and a return on equity of 11.33%. During the same quarter in the previous year, the firm posted $0.76 earnings per share. As a group, analysts expect that Columbia Banking System, Inc. will post 3.03 EPS for the current year.

Columbia Banking System Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given a dividend of $0.37 per share. The ex-dividend date was Friday, May 29th. This represents a $1.48 dividend on an annualized basis and a yield of 4.8%. Columbia Banking System’s payout ratio is currently 58.96%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Columbia Banking System from $34.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Fundamental Research set a $35.00 target price on Columbia Banking System in a report on Wednesday, July 1st. UBS Group began coverage on Columbia Banking System in a research report on Tuesday, April 7th. They set a “neutral” rating and a $30.00 price objective for the company. Royal Bank Of Canada raised their price objective on Columbia Banking System from $34.00 to $35.00 and gave the company a “sector perform” rating in a research note on Friday, July 24th. Finally, JPMorgan Chase & Co. lifted their target price on Columbia Banking System from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Columbia Banking System currently has a consensus rating of “Hold” and an average price target of $33.27.

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.