Havemeyer Place LP Makes New Investment in Columbia Banking System, Inc. $COLB

Havemeyer Place LP purchased a new position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,812 shares of the financial services provider’s stock, valued at approximately $498,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its stake in Columbia Banking System by 194.6% during the first quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 794 shares during the period. Horizon Investments LLC increased its stake in Columbia Banking System by 168.8% during the fourth quarter. Horizon Investments LLC now owns 1,231 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 773 shares during the period. Torren Management LLC purchased a new stake in Columbia Banking System during the fourth quarter worth about $49,000. Eurizon Capital SGR S.p.A. purchased a new stake in Columbia Banking System during the fourth quarter worth about $58,000. Finally, Ameriflex Group Inc. purchased a new stake in Columbia Banking System during the third quarter worth about $63,000. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on COLB. JPMorgan Chase & Co. cut their price target on shares of Columbia Banking System from $34.00 to $31.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 1st. Citigroup boosted their price target on shares of Columbia Banking System from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Piper Sandler boosted their price target on shares of Columbia Banking System from $34.00 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Barclays lowered their price objective on Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 7th. Finally, Wall Street Zen downgraded Columbia Banking System from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $32.13.

Columbia Banking System Stock Performance

Shares of Columbia Banking System stock opened at $30.15 on Wednesday. Columbia Banking System, Inc. has a one year low of $21.91 and a one year high of $32.70. The company has a market cap of $8.73 billion, a PE ratio of 12.01 and a beta of 0.63. The business has a 50-day simple moving average of $29.15 and a 200-day simple moving average of $28.92.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. Columbia Banking System had a return on equity of 11.41% and a net margin of 19.28%.The business had revenue of $675.00 million during the quarter, compared to the consensus estimate of $677.34 million. During the same period in the previous year, the company posted $0.67 earnings per share. The business’s revenue for the quarter was up 37.9% on a year-over-year basis. On average, sell-side analysts predict that Columbia Banking System, Inc. will post 3.08 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Friday, May 29th. Columbia Banking System’s dividend payout ratio is 58.96%.

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.