Hsbc Holdings PLC Buys Shares of 116,681 Columbia Banking System, Inc. $COLB

Hsbc Holdings PLC purchased a new stake in Columbia Banking System, Inc. (NASDAQ:COLB) during the second quarter, Holdings Channel.com reports. The firm purchased 116,681 shares of the financial services provider’s stock, valued at approximately $3,750,000.

Several other large investors have also recently made changes to their positions in COLB. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Columbia Banking System during the second quarter valued at about $29,000. Geneos Wealth Management Inc. raised its holdings in Columbia Banking System by 194.6% in 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 in the last quarter. Cedar Mountain Advisors LLC raised its holdings in Columbia Banking System by 571.7% in the first quarter. Cedar Mountain Advisors LLC now owns 1,115 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 949 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Columbia Banking System during the second quarter valued at about $31,000. Finally, Horizon Investments LLC boosted its holdings in shares of Columbia Banking System by 168.8% in the 4th quarter. Horizon Investments LLC now owns 1,231 shares of the financial services provider’s stock valued at $34,000 after buying an additional 773 shares in the last quarter. 92.53% of the stock is owned by institutional investors.

Insider Activity

In related news, CMO Devine David Moore sold 3,872 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $29.77, for a total value of $115,269.44. Following the completion of the transaction, the chief marketing officer owned 18,636 shares in the company, valued at $554,793.72. This trade represents a 17.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.57% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on COLB shares. Royal Bank Of Canada lifted their price objective on shares of Columbia Banking System from $34.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Friday, July 24th. Barclays decreased 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 research report on Monday, August 3rd. Fundamental Research set a $35.00 price target on shares of Columbia Banking System in a report on Wednesday, July 1st. JPMorgan Chase & Co. upped their price target on 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, Stephens increased their price objective on Columbia Banking System from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $33.35.

Columbia Banking System Stock Down 2.0%

COLB stock opened at $30.07 on Friday. The stock has a market capitalization of $8.51 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 2.98 and a beta of 0.63. Columbia Banking System, Inc. has a 52 week low of $23.83 and a 52 week high of $33.67. The firm has a 50 day moving average of $31.71 and a 200 day moving average of $30.04.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 prior year, the business posted $0.76 EPS. On average, equities research analysts expect that Columbia Banking System, Inc. will post 3.03 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 28th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Friday, August 28th. Columbia Banking System’s dividend payout ratio is presently 58.96%.

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.