Louisiana State Employees Retirement System Takes $2.35 Million Position in Columbia Banking System, Inc. $COLB

Louisiana State Employees Retirement System bought a new position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 85,700 shares of the financial services provider’s stock, valued at approximately $2,351,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in COLB. MBM Wealth Consultants LLC acquired a new position in Columbia Banking System in the 1st quarter valued at about $49,000. Hilton Head Capital Partners LLC lifted its position in Columbia Banking System by 25.8% during the 1st quarter. Hilton Head Capital Partners LLC now owns 1,945 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 399 shares during the period. Apella Capital LLC acquired a new stake in Columbia Banking System during the 1st quarter worth approximately $207,000. SG Americas Securities LLC grew its stake in shares of Columbia Banking System by 156.5% in the 1st quarter. SG Americas Securities LLC now owns 66,727 shares of the financial services provider’s stock valued at $1,830,000 after purchasing an additional 40,708 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in shares of Columbia Banking System in the first quarter valued at approximately $33,807,000. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Columbia Banking System Trading Down 0.5%

Shares of NASDAQ COLB opened at $31.98 on Tuesday. The company’s 50-day moving average price is $29.92 and its 200 day moving average price is $29.23. Columbia Banking System, Inc. has a 52 week low of $22.77 and a 52 week high of $32.70. The stock has a market cap of $9.26 billion, a price-to-earnings ratio of 12.74 and a beta of 0.63.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, beating 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 company had revenue of $675.00 million for the quarter, compared to the consensus estimate of $677.34 million. During the same quarter in the prior year, the firm earned $0.67 earnings per share. The company’s revenue for the quarter was up 37.9% compared to the same quarter last year. As a group, research analysts expect that Columbia Banking System, Inc. will post 3.08 earnings per share for the current year.

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Friday, May 29th. Columbia Banking System’s dividend payout ratio (DPR) is currently 58.96%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on COLB shares. Wells Fargo & Company increased their price target on Columbia Banking System from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, March 30th. Barclays dropped their price objective on shares of Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 7th. Weiss Ratings upgraded shares of Columbia Banking System from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, April 1st. UBS Group began coverage on shares of Columbia Banking System in a report on Tuesday, April 7th. They issued a “neutral” rating and a $30.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped 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. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Columbia Banking System has a consensus rating of “Hold” and an average target price of $32.12.

Insiders Place Their Bets

In other Columbia Banking System 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 transaction, the chief marketing officer directly owned 18,636 shares in the company, valued at approximately $554,793.72. This represents a 17.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.57% of the company’s stock.

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.