Columbia Banking System, Inc. $COLB Shares Purchased by Gabelli Funds LLC

Gabelli Funds LLC boosted its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 7.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 287,406 shares of the financial services provider’s stock after buying an additional 20,409 shares during the quarter. Gabelli Funds LLC owned approximately 0.10% of Columbia Banking System worth $7,884,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of COLB. Geneos Wealth Management Inc. increased its holdings 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 valued at $30,000 after acquiring an additional 794 shares during the last quarter. Cedar Mountain Advisors LLC raised its position in shares of Columbia Banking System by 571.7% during the 1st quarter. Cedar Mountain Advisors LLC now owns 1,115 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 949 shares in the last quarter. Horizon Investments LLC lifted its stake in Columbia Banking System by 168.8% during the fourth 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 last quarter. Rossby Financial LCC purchased a new stake in Columbia Banking System during the fourth quarter worth approximately $36,000. Finally, Hilton Head Capital Partners LLC acquired a new position in Columbia Banking System in the fourth quarter valued at approximately $43,000. 92.53% of the stock is owned by hedge funds and other institutional investors.

Columbia Banking System Trading Down 0.8%

Shares of NASDAQ COLB opened at $30.90 on Tuesday. The stock has a market cap of $8.95 billion, a P/E ratio of 12.31, a P/E/G ratio of 2.12 and a beta of 0.62. Columbia Banking System, Inc. has a twelve month low of $22.77 and a twelve month high of $33.67. The stock has a 50 day moving average of $31.03 and a two-hundred day moving average of $29.72.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. The business had revenue of $680.00 million for the quarter, compared to analyst estimates of $687.40 million. Columbia Banking System had a net margin of 19.96% and a return on equity of 11.33%. During the same period last year, the firm posted $0.76 earnings per share. As a group, research analysts predict that Columbia Banking System, Inc. will post 3.05 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Friday, May 29th. Columbia Banking System’s dividend payout ratio (DPR) is presently 58.96%.

Insider Buying and Selling

In other Columbia Banking System news, CMO Devine David Moore sold 3,872 shares of Columbia Banking System stock in a transaction on Monday, June 8th. The shares were sold at an average price of $29.77, for a total value of $115,269.44. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods increased their price target on shares of Columbia Banking System from $34.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday. Weiss Ratings upgraded shares of Columbia Banking System from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday. Royal Bank Of Canada increased their target price on shares of Columbia Banking System from $34.00 to $35.00 and gave the company a “sector perform” rating in a research report on Friday. Wall Street Zen lowered shares of Columbia Banking System from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Finally, Barclays boosted their price target on shares of Columbia Banking System from $29.00 to $31.00 and gave the company an “equal weight” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Columbia Banking System presently has a consensus rating of “Hold” and an average price target of $33.27.

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.