Leeward Investments LLC MA Purchases 152,083 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Leeward Investments LLC MA lifted its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 16.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,083,995 shares of the financial services provider's stock after acquiring an additional 152,083 shares during the period. Columbia Banking System accounts for about 1.3% of Leeward Investments LLC MA's portfolio, making the stock its 15th largest position. Leeward Investments LLC MA owned approximately 0.52% of Columbia Banking System worth $28,303,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of COLB. LSV Asset Management bought a new stake in shares of Columbia Banking System in the 1st quarter worth approximately $2,850,000. BNP Paribas Financial Markets lifted its stake in Columbia Banking System by 185.1% during the 1st quarter. BNP Paribas Financial Markets now owns 173,776 shares of the financial services provider's stock valued at $3,363,000 after acquiring an additional 112,826 shares during the period. First Hawaiian Bank lifted its stake in shares of Columbia Banking System by 81.4% in the 2nd quarter. First Hawaiian Bank now owns 52,594 shares of the financial services provider's stock worth $1,046,000 after purchasing an additional 23,597 shares during the period. Vanguard Group Inc. increased its holdings in Columbia Banking System by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 22,327,719 shares of the financial services provider's stock worth $432,041,000 after acquiring an additional 574,509 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Columbia Banking System by 7.6% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 420,374 shares of the financial services provider's stock worth $8,135,000 after acquiring an additional 29,728 shares in the last quarter. Institutional investors and hedge funds own 92.53% of the company's stock.

Analyst Ratings Changes

COLB has been the subject of a number of research reports. Raymond James increased their target price on Columbia Banking System from $26.00 to $28.00 and gave the company an "outperform" rating in a research report on Wednesday, October 2nd. Barclays lifted their target price on 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. Keefe, Bruyette & Woods lifted their target price on Columbia Banking System from $23.00 to $27.00 and gave the stock a "market perform" rating in a report on Friday, July 26th. JPMorgan Chase & Co. decreased their price target on Columbia Banking System from $29.00 to $28.00 and set a "neutral" rating for the company in a report on Wednesday, October 9th. Finally, Truist Financial boosted 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. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $27.12.

Columbia Banking System Trading Down 4.0 %

NASDAQ COLB traded down $1.26 during trading on Thursday, hitting $30.43. 2,788,497 shares of the company traded hands, compared to its average volume of 2,292,837. The business has a fifty day simple moving average of $26.22 and a 200 day simple moving average of $22.86. The company has a market capitalization of $6.37 billion, a P/E ratio of 13.50 and a beta of 0.62. Columbia Banking System, Inc. has a 12 month low of $17.08 and a 12 month high of $31.74.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.07. The company had revenue of $765.06 million during the quarter, compared to analysts' expectations of $478.80 million. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. During the same quarter in the previous year, the company posted $0.79 earnings per share. Equities research analysts predict that Columbia Banking System, Inc. will post 2.62 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 23rd were issued a $0.36 dividend. The ex-dividend date was Friday, August 23rd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.73%. Columbia Banking System's payout ratio is 62.34%.

About Columbia Banking System

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.