General American Investors Co. Inc. Has $3.72 Million Stock Position in Columbia Banking System, Inc. $COLB

General American Investors Co. Inc. lowered its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 18.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 135,556 shares of the financial services provider’s stock after selling 30,000 shares during the quarter. General American Investors Co. Inc.’s holdings in Columbia Banking System were worth $3,718,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in shares of Columbia Banking System by 14.1% during the third quarter. JPMorgan Chase & Co. now owns 7,536,008 shares of the financial services provider’s stock worth $193,977,000 after acquiring an additional 929,862 shares during the period. HoldCo Asset Management LP boosted its stake in Columbia Banking System by 27.6% in the 3rd quarter. HoldCo Asset Management LP now owns 5,722,786 shares of the financial services provider’s stock worth $147,305,000 after purchasing an additional 1,239,489 shares during the period. Lighthouse Investment Partners LLC boosted its stake in Columbia Banking System by 268.5% in the 3rd quarter. Lighthouse Investment Partners LLC now owns 664,684 shares of the financial services provider’s stock worth $17,109,000 after purchasing an additional 484,304 shares during the period. BW Gestao de Investimentos Ltda. bought a new position in Columbia Banking System during the 4th quarter worth about $9,782,000. Finally, Easterly Investment Partners LLC increased its holdings in Columbia Banking System by 10.6% during the 4th quarter. Easterly Investment Partners LLC now owns 713,206 shares of the financial services provider’s stock worth $19,934,000 after purchasing an additional 68,388 shares in the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Insider Activity

In related news, CMO Devine David Moore sold 3,872 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $29.77, for a total value 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. This trade represents a 17.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on COLB. JPMorgan Chase & Co. boosted their price target on Columbia Banking System from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Wednesday, July 1st. Fundamental Research set a $35.00 target price on Columbia Banking System in a research report on Wednesday, July 1st. Piper Sandler upped their price target on Columbia Banking System from $34.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Barclays decreased their price target on shares of Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 7th. Finally, Wells Fargo & Company boosted their price objective on shares of Columbia Banking System from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $32.81.

Columbia Banking System Stock Up 0.7%

Shares of NASDAQ COLB traded up $0.23 during trading hours on Friday, hitting $32.05. The company had a trading volume of 1,746,336 shares, compared to its average volume of 2,791,454. Columbia Banking System, Inc. has a 1-year low of $22.77 and a 1-year high of $32.77. The firm’s 50 day moving average is $30.37 and its 200-day moving average is $29.41. The stock has a market capitalization of $9.28 billion, a P/E ratio of 12.77 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $0.72 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $677.34 million. During the same period in the previous year, the company earned $0.67 earnings per share. The firm’s revenue for the quarter was up 37.9% on a year-over-year basis. On average, sell-side analysts predict that Columbia Banking System, Inc. will post 3.05 earnings per share for the current year.

Columbia Banking System Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid a dividend of $0.37 per share. The ex-dividend date was Friday, May 29th. This represents a $1.48 annualized dividend and a dividend yield of 4.6%. Columbia Banking System’s payout ratio is currently 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.