Havemeyer Place LP Invests $498,000 in Columbia Banking System, Inc. $COLB

Havemeyer Place LP purchased a new position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) in the 4th quarter, according to the company in its most recent 13F 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.

Several other large investors have also recently bought and sold shares of COLB. Vanguard Group Inc. raised its position in Columbia Banking System by 41.3% in the third quarter. Vanguard Group Inc. now owns 29,851,392 shares of the financial services provider’s stock worth $768,375,000 after acquiring an additional 8,730,937 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Columbia Banking System by 135.2% during the third quarter. Wellington Management Group LLP now owns 13,782,222 shares of the financial services provider’s stock valued at $354,754,000 after acquiring an additional 7,921,303 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Columbia Banking System by 68.1% during the third quarter. Dimensional Fund Advisors LP now owns 13,116,339 shares of the financial services provider’s stock valued at $337,611,000 after acquiring an additional 5,313,883 shares during the last quarter. Norges Bank acquired a new stake in Columbia Banking System in the 4th quarter worth about $103,012,000. Finally, State Street Corp boosted its stake in Columbia Banking System by 32.5% in the 3rd quarter. State Street Corp now owns 13,407,671 shares of the financial services provider’s stock worth $345,113,000 after buying an additional 3,290,560 shares during the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on COLB. Barclays cut their price objective on Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 7th. Weiss Ratings upgraded Columbia Banking System from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, April 1st. Wells Fargo & Company raised their target price on Columbia Banking System from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Monday, March 30th. UBS Group began coverage on Columbia Banking System in a report on Tuesday, April 7th. They set a “neutral” rating and a $30.00 target price on the stock. Finally, Piper Sandler raised their price objective on Columbia Banking System from $34.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $32.13.

Columbia Banking System Stock Performance

Shares of COLB stock opened at $30.15 on Wednesday. Columbia Banking System, Inc. has a 1 year low of $21.91 and a 1 year high of $32.70. The stock has a fifty day moving average of $29.15 and a two-hundred day moving average of $28.92. The firm has a market capitalization of $8.73 billion, a PE ratio of 12.01 and a beta of 0.63.

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

Columbia Banking System Dividend Announcement

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