Leeward Investments LLC MA Sells 20,311 Shares of Columbia Banking System, Inc. $COLB

Leeward Investments LLC MA trimmed its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 2.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 909,207 shares of the financial services provider’s stock after selling 20,311 shares during the quarter. Columbia Banking System accounts for about 1.2% of Leeward Investments LLC MA’s portfolio, making the stock its 15th largest position. Leeward Investments LLC MA owned 0.43% of Columbia Banking System worth $23,403,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Assetmark Inc. lifted its holdings in shares of Columbia Banking System by 130.1% during the third quarter. Assetmark Inc. now owns 3,847 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 2,175 shares during the period. Wedbush Securities Inc. raised its position in Columbia Banking System by 4.5% during the 3rd quarter. Wedbush Securities Inc. now owns 9,915 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 423 shares during the last quarter. Caprock Group LLC bought a new position in Columbia Banking System during the 3rd quarter worth $1,952,000. Rhumbline Advisers lifted its holdings in Columbia Banking System by 38.3% during the 3rd quarter. Rhumbline Advisers now owns 790,974 shares of the financial services provider’s stock worth $20,360,000 after buying an additional 219,027 shares during the period. Finally, Navellier & Associates Inc. bought a new stake in shares of Columbia Banking System in the 3rd quarter valued at about $233,000. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COLB has been the subject of several recent research reports. DA Davidson increased their price target on Columbia Banking System from $30.00 to $32.50 and gave the company a “neutral” rating in a research note on Friday, January 23rd. Citigroup upped their target price on Columbia Banking System from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, January 26th. Wall Street Zen upgraded shares of Columbia Banking System to a “hold” rating in a report on Saturday, December 27th. TD Cowen restated a “hold” rating on shares of Columbia Banking System in a research report on Wednesday, January 7th. Finally, Stephens increased their price objective on shares of Columbia Banking System from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $31.88.

Columbia Banking System Stock Performance

Shares of COLB opened at $31.49 on Friday. Columbia Banking System, Inc. has a 52-week low of $19.61 and a 52-week high of $32.70. The business’s 50 day moving average price is $29.31 and its two-hundred day moving average price is $27.26. The firm has a market cap of $9.42 billion, a PE ratio of 13.93 and a beta of 0.61.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.72 by $0.10. Columbia Banking System had a net margin of 17.11% and a return on equity of 11.40%. The company had revenue of $715.00 million during the quarter, compared to the consensus estimate of $693.23 million. During the same quarter last year, the firm posted $0.71 EPS. Research analysts predict that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be issued 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 4.7%. Columbia Banking System’s dividend payout ratio is currently 65.49%.

Insider Buying and Selling at Columbia Banking System

In other news, Director Steven R. Gardner sold 13,725 shares of the stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $29.43, for a total transaction of $403,926.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.68% of the company’s stock.

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.