Tred Avon Family Wealth LLC Takes Position in Columbia Banking System, Inc. $COLB

Tred Avon Family Wealth LLC acquired a new stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 29,688 shares of the financial services provider’s stock, valued at approximately $764,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its holdings in Columbia Banking System by 25.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,495,780 shares of the financial services provider’s stock worth $192,941,000 after buying an additional 1,497,177 shares during the period. Sequoia Financial Advisors LLC boosted its stake in shares of Columbia Banking System by 14.8% in the third quarter. Sequoia Financial Advisors LLC now owns 14,170 shares of the financial services provider’s stock worth $365,000 after acquiring an additional 1,826 shares during the period. Maryland State Retirement & Pension System grew its position in shares of Columbia Banking System by 52.0% during the third quarter. Maryland State Retirement & Pension System now owns 14,809 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 5,065 shares in the last quarter. Bfsg LLC bought a new stake in Columbia Banking System during the 3rd quarter valued at approximately $76,000. Finally, TD Private Client Wealth LLC lifted its holdings in Columbia Banking System by 1,401.5% in the 3rd quarter. TD Private Client Wealth LLC now owns 138,635 shares of the financial services provider’s stock worth $3,568,000 after purchasing an additional 129,402 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors.

Columbia Banking System Price Performance

Shares of COLB stock opened at $28.91 on Friday. The company has a market cap of $8.65 billion, a PE ratio of 13.02 and a beta of 0.60. Columbia Banking System, Inc. has a 1 year low of $19.61 and a 1 year high of $29.72. The stock’s 50 day simple moving average is $28.17 and its two-hundred day simple moving average is $26.48.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, October 30th. The financial services provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.19. The firm had revenue of $577.00 million during the quarter, compared to analysts’ expectations of $565.11 million. Columbia Banking System had a return on equity of 11.13% and a net margin of 15.98%.The company’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.69 EPS. Equities research analysts expect that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 5.1%. The ex-dividend date was Friday, November 28th. This is a positive change from Columbia Banking System’s previous quarterly dividend of $0.36. Columbia Banking System’s payout ratio is currently 66.67%.

Wall Street Analysts Forecast Growth

COLB has been the subject of a number of research analyst reports. TD Cowen increased their price objective on shares of Columbia Banking System from $28.00 to $32.00 and gave the company a “hold” rating in a report on Wednesday, January 7th. Royal Bank Of Canada set a $30.00 target price on shares of Columbia Banking System and gave the company a “sector perform” rating in a research note on Monday, January 12th. JPMorgan Chase & Co. lifted their price target on shares of Columbia Banking System from $31.00 to $33.00 and gave the company a “neutral” rating in a report on Tuesday, December 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Columbia Banking System in a research report on Monday, December 29th. Finally, Cowen restated a “hold” rating on shares of Columbia Banking System in a report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, Columbia Banking System presently has an average rating of “Hold” and a consensus price target of $30.08.

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.