Tred Avon Family Wealth LLC Acquires Shares of 29,688 Columbia Banking System, Inc. $COLB

Tred Avon Family Wealth LLC bought a new position in Columbia Banking System, Inc. (NASDAQ:COLB) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 29,688 shares of the financial services provider’s stock, valued at approximately $764,000.

A number of other large investors have also recently made changes to their positions in COLB. AQR Capital Management LLC increased its stake in Columbia Banking System by 35.4% in the 1st quarter. AQR Capital Management LLC now owns 56,675 shares of the financial services provider’s stock worth $1,402,000 after buying an additional 14,824 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Columbia Banking System by 23.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 82,719 shares of the financial services provider’s stock worth $2,063,000 after acquiring an additional 15,845 shares in the last quarter. Millennium Management LLC grew its stake in Columbia Banking System by 572.7% in the 1st quarter. Millennium Management LLC now owns 484,730 shares of the financial services provider’s stock worth $12,089,000 after acquiring an additional 412,674 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Columbia Banking System by 28.4% during the first quarter. Goldman Sachs Group Inc. now owns 492,775 shares of the financial services provider’s stock worth $12,290,000 after acquiring an additional 108,994 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Columbia Banking System by 1.9% in the first 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 valued at $22,128,000 after purchasing an additional 16,165 shares during the period. 92.53% of the stock is owned by hedge funds and other institutional investors.

Columbia Banking System Stock Performance

NASDAQ:COLB opened at $28.91 on Friday. The company’s 50-day simple moving average is $28.17 and its 200-day simple moving average is $26.48. Columbia Banking System, Inc. has a fifty-two week low of $19.61 and a fifty-two week high of $29.72. The stock has a market capitalization of $8.65 billion, a P/E ratio of 13.02 and a beta of 0.60.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, October 30th. The financial services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.19. Columbia Banking System had a net margin of 15.98% and a return on equity of 11.13%. The company had revenue of $577.00 million during the quarter, compared to analysts’ expectations of $565.11 million. During the same quarter in the prior year, the company posted $0.69 earnings per share. Columbia Banking System’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, research analysts forecast that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were paid a dividend of $0.37 per share. This is a positive change from Columbia Banking System’s previous quarterly dividend of $0.36. The ex-dividend date was Friday, November 28th. This represents a $1.48 annualized dividend and a yield of 5.1%. Columbia Banking System’s dividend payout ratio (DPR) is presently 66.67%.

Analyst Upgrades and Downgrades

Several research firms have commented on COLB. Cowen restated a “hold” rating on shares of Columbia Banking System in a report on Wednesday, January 7th. Royal Bank Of Canada set a $30.00 price objective on Columbia Banking System and gave the company a “sector perform” rating in a report on Monday, January 12th. TD Cowen increased their target price on shares of Columbia Banking System from $28.00 to $32.00 and gave the stock a “hold” rating in a report on Wednesday, January 7th. Keefe, Bruyette & Woods raised their target price on shares of Columbia Banking System from $31.00 to $33.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. Finally, JPMorgan Chase & Co. upped their price target on shares of Columbia Banking System from $31.00 to $33.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, Columbia Banking System presently has a consensus rating of “Hold” and a consensus target price of $30.08.

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.