Yousif Capital Management LLC lifted its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB – Free Report) by 111.3% in the first quarter, HoldingsChannel.com reports. The fund owned 105,733 shares of the financial services provider’s stock after acquiring an additional 55,700 shares during the quarter. Yousif Capital Management LLC’s holdings in Columbia Banking System were worth $2,265,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. IFP Advisors Inc lifted its holdings in shares of Columbia Banking System by 203.2% during the 4th quarter. IFP Advisors Inc now owns 473 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 317 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of Columbia Banking System by 1.9% during the 4th quarter. LPL Financial LLC now owns 17,685 shares of the financial services provider’s stock worth $533,000 after acquiring an additional 323 shares during the last quarter. BNP Paribas Arbitrage SNC lifted its holdings in shares of Columbia Banking System by 0.9% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 37,012 shares of the financial services provider’s stock worth $1,069,000 after acquiring an additional 337 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Columbia Banking System by 2.2% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 16,825 shares of the financial services provider’s stock worth $486,000 after acquiring an additional 362 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of Columbia Banking System by 1.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 26,147 shares of the financial services provider’s stock worth $788,000 after acquiring an additional 392 shares during the last quarter. 88.71% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on COLB shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $26.00 price objective on shares of Columbia Banking System in a report on Thursday, July 20th. Raymond James lowered their price target on shares of Columbia Banking System from $28.00 to $27.00 and set a “strong-buy” rating for the company in a research note on Thursday, July 20th. UBS Group downgraded shares of Columbia Banking System from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $21.50 to $18.50 in a research note on Monday, July 10th. StockNews.com raised shares of Columbia Banking System to a “sell” rating in a research note on Friday, July 21st. Finally, JPMorgan Chase & Co. started coverage on shares of Columbia Banking System in a research note on Thursday, June 15th. They issued a “neutral” rating for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $25.17.
Columbia Banking System Trading Up 2.0 %
COLB stock opened at $22.24 on Friday. The firm’s 50-day moving average price is $21.64 and its two-hundred day moving average price is $23.92. Columbia Banking System, Inc. has a 12-month low of $17.54 and a 12-month high of $35.53. The stock has a market capitalization of $4.64 billion, a price-to-earnings ratio of 9.84 and a beta of 0.66.
Columbia Banking System (NASDAQ:COLB – Get Free Report) last released its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.12). Columbia Banking System had a net margin of 15.40% and a return on equity of 10.85%. The firm had revenue of $524.85 million during the quarter, compared to analysts’ expectations of $584.70 million. During the same quarter in the previous year, the firm posted $0.79 EPS. Columbia Banking System’s revenue was up 72.8% compared to the same quarter last year. Equities analysts predict that Columbia Banking System, Inc. will post 3.2 EPS for the current year.
Columbia Banking System Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Wednesday, May 31st were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $1.44 annualized dividend and a dividend yield of 6.47%. This is a boost from Columbia Banking System’s previous quarterly dividend of $0.30. Columbia Banking System’s payout ratio is currently 63.72%.
Insider Activity at Columbia Banking System
In related news, Director Craig D. Eerkes purchased 2,381 shares of Columbia Banking System stock in a transaction that occurred on Wednesday, May 24th. The shares were bought at an average price of $21.01 per share, for a total transaction of $50,024.81. Following the completion of the transaction, the director now directly owns 29,022 shares of the company’s stock, valued at $609,752.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.62% of the stock is owned by corporate insiders.
Columbia Banking System Company Profile
Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides commercial and retail banking services. The company offers deposit products, including interest-bearing checking, savings, money market, and certificate of deposit accounts. It also provides home mortgages for purchases and refinances, home equity loans and lines of credit, and other personal loans; and agricultural loans, asset-based loans, builder and other commercial real estate loans, and loans guaranteed by the SBA, as well as offer a suite of business edge loans designed for small businesses to expand, purchase equipment, or in need of working capital.
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