Leeward Investments LLC MA Grows Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

Leeward Investments LLC MA raised its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 16.3% during the third quarter, Holdings Channel.com reports. The firm owned 1,083,995 shares of the financial services provider’s stock after buying an additional 152,083 shares during the period. Columbia Banking System accounts for about 1.3% of Leeward Investments LLC MA’s holdings, making the stock its 15th largest holding. Leeward Investments LLC MA’s holdings in Columbia Banking System were worth $28,303,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COLB. Picton Mahoney Asset Management purchased a new position in Columbia Banking System in the 2nd quarter valued at about $33,000. Abich Financial Wealth Management LLC increased its stake in shares of Columbia Banking System by 85.1% during the 1st quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 1,020 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Columbia Banking System by 144.0% during the 2nd quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 1,387 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Columbia Banking System by 111.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 1,380 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its position in shares of Columbia Banking System by 137,166.7% during the second quarter. Hexagon Capital Partners LLC now owns 4,118 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 4,115 shares in the last quarter. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Columbia Banking System Stock Up 12.5 %

COLB stock opened at $31.69 on Thursday. The company has a market capitalization of $6.64 billion, a P/E ratio of 13.72 and a beta of 0.62. The company has a 50-day simple moving average of $26.22 and a 200 day simple moving average of $22.86. Columbia Banking System, Inc. has a fifty-two week low of $17.08 and a fifty-two week high of $31.74.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.07. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. The business had revenue of $765.06 million during the quarter, compared to the consensus estimate of $478.80 million. During the same quarter in the prior year, the company posted $0.79 earnings per share. Equities analysts anticipate that Columbia Banking System, Inc. will post 2.6 EPS for the current year.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 23rd were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date of this dividend was Friday, August 23rd. Columbia Banking System’s payout ratio is 62.34%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Royal Bank of Canada lifted their price target on shares of Columbia Banking System from $29.00 to $31.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Wedbush lifted their price target on shares of Columbia Banking System from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. dropped their price target on shares of Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Truist Financial lifted their price target on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Finally, Barclays boosted their target price on shares of Columbia Banking System from $25.00 to $29.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $27.12.

Columbia Banking System Profile

Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.