Holocene Advisors LP Increases Stake in Columbia Banking System, Inc. (NASDAQ:COLB)

Holocene Advisors LP raised its position in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 1,001.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 962,330 shares of the financial services provider's stock after acquiring an additional 874,986 shares during the period. Holocene Advisors LP owned approximately 0.46% of Columbia Banking System worth $25,126,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Picton Mahoney Asset Management acquired a new stake in Columbia Banking System in the second quarter valued at approximately $33,000. GAMMA Investing LLC raised its holdings in shares of Columbia Banking System by 144.0% during the second quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider's stock worth $47,000 after purchasing an additional 1,387 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of 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 during the last quarter. Hexagon Capital Partners LLC raised its holdings 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 during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Columbia Banking System by 1,507.6% during the third quarter. Farther Finance Advisors LLC now owns 4,855 shares of the financial services provider's stock worth $127,000 after purchasing an additional 4,553 shares during the last quarter. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

COLB has been the subject of several recent research reports. Barclays raised their target price on shares of Columbia Banking System from $25.00 to $29.00 and gave the stock an "equal weight" rating in a report on Friday, October 25th. StockNews.com raised shares of Columbia Banking System from a "sell" rating to a "hold" rating in a report on Saturday, October 5th. Royal Bank of Canada raised their target price on shares of Columbia Banking System from $29.00 to $31.00 and gave the stock a "sector perform" rating in a report on Friday, October 25th. Wells Fargo & Company raised their target price on shares of Columbia Banking System from $30.00 to $33.00 and gave the stock an "equal weight" rating in a report on Tuesday. Finally, JPMorgan Chase & Co. dropped 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 report on Wednesday, October 9th. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Columbia Banking System has a consensus rating of "Hold" and a consensus price target of $27.35.

Columbia Banking System Price Performance

COLB traded down $0.23 on Tuesday, reaching $30.64. 780,501 shares of the company's stock were exchanged, compared to its average volume of 2,213,481. The stock's fifty day moving average price is $28.51 and its 200-day moving average price is $24.31. Columbia Banking System, Inc. has a twelve month low of $17.08 and a twelve month high of $32.85. The stock has a market cap of $6.42 billion, a PE ratio of 13.29 and a beta of 0.64.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.69 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $765.06 million for the quarter, compared to the consensus estimate of $478.80 million. During the same period in the previous year, the firm earned $0.79 earnings per share. As a group, research analysts predict that Columbia Banking System, Inc. will post 2.63 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date is Friday, November 29th. Columbia Banking System's dividend payout ratio (DPR) is 62.34%.

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.