Columbia Banking System, Inc. $COLB Shares Purchased by Lone Peak Global Investors LLC

Lone Peak Global Investors LLC boosted its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 5.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 569,183 shares of the financial services provider’s stock after acquiring an additional 31,925 shares during the period. Columbia Banking System comprises approximately 2.5% of Lone Peak Global Investors LLC’s holdings, making the stock its 22nd biggest holding. Lone Peak Global Investors LLC’s holdings in Columbia Banking System were worth $18,242,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Capital Wealth Advisors lifted its stake in shares of Columbia Banking System by 20.4% during the 2nd quarter. Vanguard Capital Wealth Advisors now owns 16,525 shares of the financial services provider’s stock worth $530,000 after purchasing an additional 2,800 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Columbia Banking System in the second quarter valued at $427,000. Susquehanna Fundamental Investments LLC increased its stake in Columbia Banking System by 1,039.6% in the second quarter. Susquehanna Fundamental Investments LLC now owns 303,329 shares of the financial services provider’s stock valued at $9,722,000 after purchasing an additional 276,711 shares during the last quarter. Two Sigma Securities LLC acquired a new position in Columbia Banking System in the second quarter valued at $713,000. Finally, Greenleaf Trust acquired a new position in Columbia Banking System in the second quarter valued at $214,000. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

COLB has been the topic of a number of research analyst reports. Fundamental Research set a $35.00 price target on Columbia Banking System in a research note on Wednesday, July 1st. Weiss Ratings raised shares of Columbia Banking System from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 24th. Wells Fargo & Company increased their price objective on shares of Columbia Banking System from $32.00 to $34.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. JPMorgan Chase & Co. raised their target price on shares of Columbia Banking System from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 1st. Finally, Barclays lowered their target price on shares of Columbia Banking System from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Columbia Banking System has an average rating of “Hold” and a consensus price target of $33.62.

Insider Transactions at Columbia Banking System

In other news, CMO Devine David Moore sold 3,872 shares of the company’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 sale, the chief marketing officer owned 18,636 shares in the company, valued at approximately $554,793.72. This represents a 17.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.57% of the stock is owned by corporate insiders.

Columbia Banking System Trading Down 1.1%

COLB stock opened at $29.32 on Wednesday. The company has a market cap of $8.29 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 2.94 and a beta of 0.62. The stock has a 50-day moving average price of $31.64 and a two-hundred day moving average price of $29.99. Columbia Banking System, Inc. has a 12-month low of $23.83 and a 12-month high of $33.67.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.03. The business had revenue of $677.00 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 quarter in the previous year, the business posted $0.76 EPS. Equities analysts forecast that Columbia Banking System, Inc. will post 3.03 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 28th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Friday, August 28th. Columbia Banking System’s payout ratio is 58.96%.

Columbia Banking System Company 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.