UBS Group AG Purchases 291,806 Shares of Columbia Banking System, Inc. $COLB

UBS Group AG grew its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 7.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,263,924 shares of the financial services provider’s stock after buying an additional 291,806 shares during the quarter. UBS Group AG’s holdings in Columbia Banking System were worth $119,177,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. increased its stake in Columbia Banking System by 39.4% in the 3rd quarter. Principal Financial Group Inc. now owns 664,110 shares of the financial services provider’s stock worth $17,094,000 after acquiring an additional 187,551 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Columbia Banking System by 145.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,019,088 shares of the financial services provider’s stock worth $180,671,000 after acquiring an additional 4,157,835 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Columbia Banking System by 14.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,536,008 shares of the financial services provider’s stock worth $193,977,000 after acquiring an additional 929,862 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Columbia Banking System by 45.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 278,899 shares of the financial services provider’s stock worth $7,179,000 after acquiring an additional 87,627 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Columbia Banking System by 25.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,495,780 shares of the financial services provider’s stock worth $192,941,000 after acquiring an additional 1,497,177 shares during the last quarter. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Trading Down 0.1%

Shares of Columbia Banking System stock opened at $29.56 on Friday. The firm has a market capitalization of $8.57 billion, a PE ratio of 11.78 and a beta of 0.63. The business’s 50-day moving average price is $28.31 and its 200-day moving average price is $28.27. Columbia Banking System, Inc. has a 12 month low of $21.91 and a 12 month high of $32.70.

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

Columbia Banking System Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 27th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 5.0%. The ex-dividend date was Friday, February 27th. Columbia Banking System’s dividend payout ratio (DPR) is presently 58.96%.

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 that occurred on 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 in the company, valued at $2,838,249.25. This trade represents a 2.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 5,629 shares of company stock worth $158,044. 0.57% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on COLB shares. Citigroup upped their target price on Columbia Banking System from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. TD Cowen reiterated a “hold” rating on shares of Columbia Banking System in a research report on Wednesday, January 7th. Barclays reduced their price objective on Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 7th. Piper Sandler increased their price objective on Columbia Banking System from $34.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday. Finally, DA Davidson increased their price objective on Columbia Banking System from $30.00 to $32.50 and gave the company a “neutral” rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.73.

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.