Vistica Wealth Advisors LLC Makes New $1.83 Million Investment in Columbia Banking System, Inc. $COLB

Vistica Wealth Advisors LLC purchased a new position in Columbia Banking System, Inc. (NASDAQ:COLB) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 65,452 shares of the financial services provider’s stock, valued at approximately $1,829,000. Columbia Banking System makes up approximately 1.8% of Vistica Wealth Advisors LLC’s holdings, making the stock its 16th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of COLB. AQR Capital Management LLC grew its stake in Columbia Banking System by 35.4% in the 1st quarter. AQR Capital Management LLC now owns 56,675 shares of the financial services provider’s stock worth $1,402,000 after buying an additional 14,824 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Columbia Banking System by 23.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 82,719 shares of the financial services provider’s stock worth $2,063,000 after acquiring an additional 15,845 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Columbia Banking System by 572.7% in the 1st quarter. Millennium Management LLC now owns 484,730 shares of the financial services provider’s stock worth $12,089,000 after acquiring an additional 412,674 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Columbia Banking System by 28.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 492,775 shares of the financial services provider’s stock worth $12,290,000 after acquiring an additional 108,994 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Columbia Banking System by 1.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 887,267 shares of the financial services provider’s stock worth $22,128,000 after acquiring an additional 16,165 shares during the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Insider Activity at Columbia Banking System

In other news, CMO Devine David Moore sold 3,872 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $29.77, for a total value of $115,269.44. Following the completion of the sale, the chief marketing officer directly owned 18,636 shares of the company’s stock, valued at approximately $554,793.72. This trade represents a 17.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.57% of the company’s stock.

Columbia Banking System Stock Performance

Shares of COLB stock opened at $31.31 on Friday. The firm has a market cap of $9.06 billion, a P/E ratio of 12.47 and a beta of 0.63. Columbia Banking System, Inc. has a fifty-two week low of $21.91 and a fifty-two week high of $32.70. The business’s 50 day moving average price is $29.36 and its 200-day moving average price is $28.99.

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

Columbia Banking System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, May 29th. Columbia Banking System’s dividend payout ratio (DPR) is currently 58.96%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on COLB. Barclays lowered their price objective on shares of Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating for the company in a report on Tuesday, April 7th. JPMorgan Chase & Co. lowered their price objective on shares of Columbia Banking System from $34.00 to $31.00 and set a “neutral” rating for the company in a report on Wednesday, April 1st. Wells Fargo & Company boosted their price objective on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, March 30th. Wall Street Zen lowered shares of Columbia Banking System from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Finally, Piper Sandler boosted their price objective on shares of Columbia Banking System from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $32.13.

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.