GW&K Investment Management LLC Buys Shares of 967,025 Columbia Banking System, Inc. $COLB

GW&K Investment Management LLC purchased a new stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) during the third quarter, Holdings Channel.com reports. The fund purchased 967,025 shares of the financial services provider’s stock, valued at approximately $24,891,000.

Several other large investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in shares of Columbia Banking System by 35.4% in the first quarter. AQR Capital Management LLC now owns 56,675 shares of the financial services provider’s stock valued at $1,402,000 after purchasing an additional 14,824 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Columbia Banking System by 23.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 82,719 shares of the financial services provider’s stock valued at $2,063,000 after purchasing an additional 15,845 shares in the last quarter. Millennium Management LLC grew its position in shares of Columbia Banking System by 572.7% in the first quarter. Millennium Management LLC now owns 484,730 shares of the financial services provider’s stock valued at $12,089,000 after purchasing an additional 412,674 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Columbia Banking System by 28.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 492,775 shares of the financial services provider’s stock valued at $12,290,000 after purchasing an additional 108,994 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Columbia Banking System by 1.9% during 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 purchasing an additional 16,165 shares in the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Columbia Banking System Stock Performance

Columbia Banking System stock opened at $28.00 on Friday. Columbia Banking System, Inc. has a fifty-two week low of $19.61 and a fifty-two week high of $32.70. The stock has a market cap of $8.28 billion, a P/E ratio of 12.39 and a beta of 0.60. The firm’s fifty day moving average price is $29.66 and its 200-day moving average price is $27.79.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, January 22nd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.10. The company had revenue of $715.00 million during the quarter, compared to analyst estimates of $693.23 million. Columbia Banking System had a net margin of 17.11% and a return on equity of 11.40%. During the same period in the previous year, the business earned $0.71 earnings per share. On average, analysts predict that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, February 27th. This represents a $1.48 annualized dividend and a dividend yield of 5.3%. Columbia Banking System’s dividend payout ratio is 65.49%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Columbia Banking System from $31.00 to $33.00 and gave the company a “neutral” rating in a report on Tuesday, December 16th. Barclays increased their target price on shares of Columbia Banking System from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Friday, December 19th. Keefe, Bruyette & Woods raised their price target on shares of Columbia Banking System from $31.00 to $33.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. DA Davidson upped their price target on shares of Columbia Banking System from $30.00 to $32.50 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Finally, Royal Bank Of Canada increased their price objective on Columbia Banking System from $30.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.04.

Insider Transactions at Columbia Banking System

In related news, VP Torran B. Nixon sold 2,241 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $28.25, for a total transaction of $63,308.25. Following the transaction, the vice president directly owned 100,469 shares of the company’s stock, valued at approximately $2,838,249.25. This trade represents a 2.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Steven R. Gardner sold 13,725 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $29.43, for a total value of $403,926.75. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 18,206 shares of company stock worth $531,859. 0.68% of the stock is currently owned by insiders.

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.