Columbia Banking System, Inc. (NASDAQ:COLB) Stock Holdings Increased by Easterly Investment Partners LLC

Easterly Investment Partners LLC increased its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 493,420 shares of the financial services provider’s stock after purchasing an additional 6,429 shares during the quarter. Columbia Banking System accounts for 1.0% of Easterly Investment Partners LLC’s holdings, making the stock its 29th biggest position. Easterly Investment Partners LLC owned about 0.23% of Columbia Banking System worth $12,306,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new stake in shares of Columbia Banking System in the 4th quarter worth approximately $29,000. UMB Bank n.a. raised its holdings in shares of Columbia Banking System by 141.3% in the 1st quarter. UMB Bank n.a. now owns 1,636 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 958 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Columbia Banking System in the 4th quarter worth approximately $42,000. Kapitalo Investimentos Ltda bought a new stake in shares of Columbia Banking System in the 4th quarter worth approximately $42,000. Finally, Reyes Financial Architecture Inc. bought a new stake in shares of Columbia Banking System in the 1st quarter worth approximately $118,000. 92.53% of the stock is currently owned by institutional investors.

Columbia Banking System Stock Up 0.2%

COLB stock opened at $23.88 on Thursday. The company has a market capitalization of $5.02 billion, a price-to-earnings ratio of 10.12 and a beta of 0.62. Columbia Banking System, Inc. has a 12 month low of $19.61 and a 12 month high of $32.85. The firm has a 50 day moving average of $23.94 and a two-hundred day moving average of $24.89.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data 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. Columbia Banking System had a net margin of 16.85% and a return on equity of 11.12%. The business had revenue of $481.92 million during the quarter, compared to analysts’ expectations of $482.86 million. During the same period in the previous year, the company earned $0.65 earnings per share. Columbia Banking System’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, research analysts expect that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 6.03%. The ex-dividend date was Friday, May 30th. Columbia Banking System’s dividend payout ratio (DPR) is presently 61.02%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on COLB. Royal Bank Of Canada cut their price target on shares of Columbia Banking System from $32.00 to $27.00 and set a “sector perform” rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company lowered shares of Columbia Banking System from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $29.00 to $27.00 in a report on Thursday, July 10th. Keefe, Bruyette & Woods cut their price target on shares of Columbia Banking System from $33.00 to $30.00 and set a “market perform” rating on the stock in a report on Thursday, April 24th. Raymond James Financial set a $27.00 price target on shares of Columbia Banking System and gave the company an “outperform” rating in a report on Thursday, April 24th. Finally, Jefferies Financial Group assumed coverage on shares of Columbia Banking System in a report on Wednesday, May 21st. They set a “hold” rating and a $27.00 price target on the stock. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Columbia Banking System presently has a consensus rating of “Hold” and an average target price of $28.79.

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.