124,301 Shares in Columbia Banking System, Inc. $COLB Bought by Jupiter Topco LLC

Jupiter Topco LLC purchased a new stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 124,301 shares of the financial services provider’s stock, valued at approximately $3,984,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Columbia Banking System in the second quarter worth about $29,000. Geneos Wealth Management Inc. grew its position in shares of Columbia Banking System by 194.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 794 shares during the period. Cedar Mountain Advisors LLC increased its stake 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 purchasing an additional 949 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Columbia Banking System in the 2nd quarter valued at about $31,000. Finally, Horizon Investments LLC raised its holdings in Columbia Banking System by 168.8% in the 4th quarter. Horizon Investments LLC now owns 1,231 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 773 shares during the period. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Insider Activity at Columbia Banking System

In related news, CMO Devine David Moore sold 3,872 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $29.77, for a total transaction of $115,269.44. Following the completion of the sale, the chief marketing officer directly owned 18,636 shares in the company, valued at approximately $554,793.72. The trade was a 17.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on COLB shares. Fundamental Research set a $35.00 price target on Columbia Banking System in a research report on Wednesday, July 1st. Weiss Ratings upgraded Columbia Banking System from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. JPMorgan Chase & Co. upped their target price on Columbia Banking System from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 1st. Keefe, Bruyette & Woods increased their target price on Columbia Banking System from $34.00 to $35.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Finally, Barclays dropped their price target on shares of Columbia Banking System from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $33.62.

Columbia Banking System Trading Down 1.1%

Shares of Columbia Banking System stock opened at $29.32 on Wednesday. The firm has a market capitalization of $8.29 billion, a PE ratio of 11.68, a P/E/G ratio of 2.94 and a beta of 0.62. Columbia Banking System, Inc. has a twelve month low of $23.83 and a twelve month high of $33.67. The firm’s 50-day moving average price is $31.64 and its 200 day moving average price is $29.99.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.03. Columbia Banking System had a return on equity of 11.33% and a net margin of 19.96%.The company had revenue of $677.00 million for the quarter, compared to analysts’ expectations of $687.40 million. During the same period in the previous year, the firm posted $0.76 EPS. On average, sell-side analysts predict that Columbia Banking System, Inc. will post 3.03 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, August 28th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.0%. Columbia Banking System’s payout ratio is currently 58.96%.

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.