Quantbot Technologies LP Boosts Stake in Columbia Banking System, Inc. (NASDAQ:COLB)

Quantbot Technologies LP boosted its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 646.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 308,568 shares of the financial services provider’s stock after purchasing an additional 267,236 shares during the period. Quantbot Technologies LP owned approximately 0.15% of Columbia Banking System worth $5,971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of COLB. Fifth Third Bancorp lifted its stake in shares of Columbia Banking System by 113.4% during the 1st quarter. Fifth Third Bancorp now owns 1,970 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 1,047 shares during the last quarter. First Pacific Financial bought a new stake in shares of Columbia Banking System during the fourth quarter worth $40,000. Headlands Technologies LLC purchased a new stake in shares of Columbia Banking System during the fourth quarter valued at $42,000. GAMMA Investing LLC bought a new position in shares of Columbia Banking System in the fourth quarter worth about $48,000. Finally, Cerity Partners LLC purchased a new position in Columbia Banking System in the 4th quarter worth about $59,000. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on COLB shares. Piper Sandler restated an “overweight” rating and issued a $27.00 target price on shares of Columbia Banking System in a research note on Wednesday, June 5th. Wedbush restated a “neutral” rating and set a $20.00 price objective on shares of Columbia Banking System in a report on Friday, April 26th. Barclays upped their target price on Columbia Banking System from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Truist Financial cut their price target on Columbia Banking System from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Finally, Wells Fargo & Company lowered their price objective on shares of Columbia Banking System from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $22.04.

Columbia Banking System Trading Down 0.4 %

Shares of COLB traded down $0.09 during midday trading on Friday, hitting $21.44. 1,957,596 shares of the company’s stock traded hands, compared to its average volume of 2,527,401. Columbia Banking System, Inc. has a 1 year low of $17.08 and a 1 year high of $28.11. The firm’s fifty day moving average is $19.40 and its 200-day moving average is $20.10. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of 9.24 and a beta of 0.66.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.12. Columbia Banking System had a return on equity of 11.58% and a net margin of 16.52%. The company had revenue of $473.72 million during the quarter, compared to analysts’ expectations of $480.39 million. During the same period last year, the business posted $0.46 earnings per share. The firm’s revenue was up 10.3% compared to the same quarter last year. On average, equities research analysts anticipate that Columbia Banking System, Inc. will post 2.44 EPS for the current year.

Columbia Banking System Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 24th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 6.72%. The ex-dividend date of this dividend was Thursday, May 23rd. Columbia Banking System’s dividend payout ratio is presently 61.80%.

Columbia Banking System Profile

Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.