International Assets Investment Management LLC Takes $1.07 Million Position in Columbia Banking System, Inc. $COLB

International Assets Investment Management LLC bought a new stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) during the fourth quarter, HoldingsChannel reports. The firm bought 38,250 shares of the financial services provider’s stock, valued at approximately $1,069,000.

Other large investors have also recently modified their holdings of the company. Quent Capital LLC purchased a new position in shares of Columbia Banking System in the 3rd quarter worth about $29,000. First Horizon Corp purchased a new position in shares of Columbia Banking System in the 3rd quarter worth about $31,000. Geneos Wealth Management Inc. raised its position in shares of Columbia Banking System by 194.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 794 shares during the last quarter. Horizon Investments LLC raised its position 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 buying an additional 773 shares during the last quarter. Finally, Torren Management LLC bought a new position in Columbia Banking System during the 4th quarter valued at about $49,000. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Insider Buying and Selling at Columbia Banking System

In related news, VP Torran B. Nixon sold 2,241 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $28.25, for a total value of $63,308.25. Following the completion of the sale, the vice president directly owned 100,469 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 5,629 shares of company stock valued at $158,044 over the last ninety days. Company insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on COLB. UBS Group began coverage on shares of Columbia Banking System in a research note on Tuesday, April 7th. They set a “neutral” rating and a $30.00 target price on the stock. Stephens upped their target price on shares of Columbia Banking System from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. Wall Street Zen cut shares of Columbia Banking System from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. JPMorgan Chase & Co. lowered their target price on shares of Columbia Banking System from $34.00 to $31.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 1st. Finally, Piper Sandler upped their price target on shares of Columbia Banking System from $34.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, Columbia Banking System presently has an average rating of “Hold” and an average target price of $31.73.

Columbia Banking System Trading Up 1.6%

Columbia Banking System stock opened at $30.04 on Friday. The firm has a 50 day moving average of $28.26 and a 200 day moving average of $28.41. The firm has a market capitalization of $8.70 billion, a price-to-earnings ratio of 11.97 and a beta of 0.63. Columbia Banking System, Inc. has a 12-month low of $21.91 and a 12-month high of $32.70.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Columbia Banking System had a net margin of 19.28% and a return on equity of 11.41%. The business had revenue of $675.00 million during the quarter, compared to analyst estimates of $677.34 million. During the same period last year, the firm posted $0.67 EPS. The company’s revenue was up 37.9% on a year-over-year basis. On average, analysts predict that Columbia Banking System, Inc. will post 3.08 EPS for the current year.

Columbia Banking System Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 27th were issued a $0.37 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.9%. Columbia Banking System’s dividend payout ratio (DPR) is 58.96%.

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.