Capitolis Liquid Global Markets LLC Takes Position in Columbia Banking System, Inc. $COLB

Capitolis Liquid Global Markets LLC bought a new position in Columbia Banking System, Inc. (NASDAQ:COLB) in the 3rd quarter, Holdings Channel reports. The fund bought 559,636 shares of the financial services provider’s stock, valued at approximately $14,405,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Columbia Banking System by 41.3% in the third quarter. Vanguard Group Inc. now owns 29,851,392 shares of the financial services provider’s stock worth $768,375,000 after purchasing an additional 8,730,937 shares during the period. Wellington Management Group LLP raised its position in shares of Columbia Banking System by 135.2% during the 3rd quarter. Wellington Management Group LLP now owns 13,782,222 shares of the financial services provider’s stock valued at $354,754,000 after purchasing an additional 7,921,303 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Columbia Banking System by 68.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 13,116,339 shares of the financial services provider’s stock valued at $337,611,000 after buying an additional 5,313,883 shares in the last quarter. State Street Corp lifted its stake in shares of Columbia Banking System by 0.6% during the 2nd quarter. State Street Corp now owns 10,117,111 shares of the financial services provider’s stock valued at $236,538,000 after buying an additional 64,096 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Columbia Banking System by 11.9% in the 3rd quarter. American Century Companies Inc. now owns 10,016,178 shares of the financial services provider’s stock worth $257,816,000 after buying an additional 1,067,491 shares during the period. Institutional investors own 92.53% of the company’s stock.

Insider Buying and Selling

In other Columbia Banking System news, VP Torran B. Nixon sold 2,241 shares of Columbia Banking System stock in a transaction that occurred 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 sale, the vice president owned 100,469 shares of the company’s stock, valued at $2,838,249.25. The trade was a 2.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Steven R. Gardner sold 13,725 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $29.43, for a total value of $403,926.75. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 18,206 shares of company stock valued at $531,859. 0.68% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

COLB has been the subject of a number of analyst reports. Barclays increased their price target on Columbia Banking System from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Friday, December 19th. Stephens boosted their price objective on Columbia Banking System from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. Wall Street Zen raised Columbia Banking System from a “hold” rating to a “buy” rating in a research note on Saturday. Royal Bank Of Canada increased their target price on Columbia Banking System from $30.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Friday, January 23rd. Finally, TD Cowen reissued a “hold” rating on shares of Columbia Banking System in a research note on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $32.04.

Columbia Banking System Stock Performance

Shares of NASDAQ COLB opened at $26.23 on Friday. The company has a market cap of $7.75 billion, a P/E ratio of 11.61 and a beta of 0.60. Columbia Banking System, Inc. has a 52-week low of $19.61 and a 52-week high of $32.70. The firm’s fifty day moving average is $29.48 and its two-hundred day moving average is $27.82.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.72 by $0.10. The business had revenue of $715.00 million during the quarter, compared to the consensus estimate of $693.23 million. Columbia Banking System had a net margin of 17.11% and a return on equity of 11.40%. During the same quarter in the prior year, the firm earned $0.71 EPS. As a group, analysts forecast that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Friday, February 27th. Columbia Banking System’s payout ratio is currently 65.49%.

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.