LSV Asset Management Has $28.53 Million Position in Columbia Banking System, Inc. $COLB

LSV Asset Management cut its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 2.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,020,784 shares of the financial services provider’s stock after selling 21,800 shares during the quarter. LSV Asset Management’s holdings in Columbia Banking System were worth $28,531,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its holdings in 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 worth $30,000 after buying an additional 794 shares during the period. Horizon Investments LLC lifted its holdings in Columbia Banking System by 168.8% during 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 period. Torren Management LLC bought a new position in shares of Columbia Banking System in the 4th quarter worth about $49,000. Ameriflex Group Inc. bought a new position in shares of Columbia Banking System in the 3rd quarter worth about $63,000. Finally, Triumph Capital Management bought a new position in shares of Columbia Banking System in the 3rd quarter worth about $67,000. 92.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Weiss Ratings raised Columbia Banking System from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, April 1st. Wells Fargo & Company lifted their price objective on Columbia Banking System from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Monday, March 30th. UBS Group assumed coverage on Columbia Banking System in a research report on Tuesday, April 7th. They issued a “neutral” rating and a $30.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on Columbia Banking System from $34.00 to $31.00 and set a “neutral” rating for the company in a research report on Wednesday, April 1st. Finally, Barclays lowered their price objective on Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $32.13.

Columbia Banking System Price Performance

Shares of COLB opened at $29.73 on Monday. The stock has a 50-day moving average of $28.46 and a 200-day moving average of $28.67. The company has a market cap of $8.61 billion, a PE ratio of 11.84 and a beta of 0.63. Columbia Banking System, Inc. has a one year low of $21.91 and a one year high of $32.70.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. The company had revenue of $675.00 million during the quarter, compared to the consensus estimate of $677.34 million. Columbia Banking System had a return on equity of 11.41% and a net margin of 19.28%.The firm’s revenue for the quarter was up 37.9% compared to the same quarter last year. During the same period last year, the business posted $0.67 EPS. Analysts expect that Columbia Banking System, Inc. will post 3.08 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.37 per share. The ex-dividend date is Friday, May 29th. This represents a $1.48 dividend on an annualized basis and a yield of 5.0%. Columbia Banking System’s payout ratio is 58.96%.

Insider Transactions at Columbia Banking System

In other Columbia Banking System news, VP Torran B. Nixon sold 2,241 shares of Columbia Banking System stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $28.25, for a total transaction of $63,308.25. Following the completion of the transaction, the vice president owned 100,469 shares in the company, valued at approximately $2,838,249.25. The trade was a 2.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 5,629 shares of company stock worth $158,044. 0.57% of the stock is currently owned by insiders.

About Columbia Banking System

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.