XTX Topco Ltd Acquires New Stake in Columbia Banking System, Inc. (NASDAQ:COLB)

XTX Topco Ltd bought a new stake in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 52,296 shares of the financial services provider's stock, valued at approximately $1,365,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of COLB. Picton Mahoney Asset Management purchased a new position in shares of Columbia Banking System in the 2nd quarter valued at about $33,000. GAMMA Investing LLC increased its stake in Columbia Banking System by 144.0% in the second quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 1,387 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Columbia Banking System by 111.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider's stock worth $52,000 after purchasing an additional 1,380 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Columbia Banking System by 1,507.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,855 shares of the financial services provider's stock worth $127,000 after buying an additional 4,553 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of Columbia Banking System by 44.1% in the 2nd quarter. Signaturefd LLC now owns 5,058 shares of the financial services provider's stock valued at $101,000 after buying an additional 1,548 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Columbia Banking System Stock Down 1.1 %

Shares of COLB traded down $0.34 on Monday, reaching $29.85. The stock had a trading volume of 1,203,993 shares, compared to its average volume of 2,199,290. Columbia Banking System, Inc. has a twelve month low of $17.08 and a twelve month high of $32.85. The firm has a market capitalization of $6.25 billion, a PE ratio of 12.92 and a beta of 0.64. The firm has a 50-day moving average of $28.93 and a 200 day moving average of $24.68.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.07. The business had revenue of $765.06 million during the quarter, compared to analysts' expectations of $478.80 million. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. During the same quarter last year, the business posted $0.79 earnings per share. On average, sell-side analysts anticipate that Columbia Banking System, Inc. will post 2.63 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.82%. The ex-dividend date is Friday, November 29th. Columbia Banking System's dividend payout ratio (DPR) is presently 62.34%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on COLB. JPMorgan Chase & Co. cut their price target on shares of Columbia Banking System from $29.00 to $28.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 9th. StockNews.com raised Columbia Banking System from a "sell" rating to a "hold" rating in a report on Saturday, October 5th. Wedbush raised their price target on Columbia Banking System from $31.00 to $35.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Truist Financial lifted their price target on Columbia Banking System from $28.00 to $30.00 and gave the stock a "hold" rating in a research report on Monday, October 28th. Finally, Keefe, Bruyette & Woods increased their price objective on Columbia Banking System from $30.00 to $34.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $28.19.

Columbia Banking System Company 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.