LMR Partners LLP Purchases New Stake in Columbia Banking System, Inc. (NASDAQ:COLB)

LMR Partners LLP acquired a new stake in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 41,333 shares of the financial services provider's stock, valued at approximately $1,079,000.

Several other institutional investors also recently modified their holdings of the company. Picton Mahoney Asset Management acquired a new position in shares of Columbia Banking System in the second quarter valued at approximately $33,000. Abich Financial Wealth Management LLC raised its stake in Columbia Banking System by 85.1% in the first quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 1,020 shares in the last quarter. GAMMA Investing LLC boosted its position 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 worth $47,000 after acquiring an additional 1,387 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Columbia Banking System by 111.5% in 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 purchasing an additional 1,380 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its holdings in shares of Columbia Banking System by 137,166.7% in the second quarter. Hexagon Capital Partners LLC now owns 4,118 shares of the financial services provider's stock worth $82,000 after acquiring an additional 4,115 shares during the last quarter. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Columbia Banking System Trading Down 0.6 %

NASDAQ COLB traded down $0.17 during trading hours on Wednesday, hitting $29.98. The company's stock had a trading volume of 1,090,889 shares, compared to its average volume of 2,248,188. The company has a market capitalization of $6.28 billion, a PE ratio of 13.05 and a beta of 0.62. Columbia Banking System, Inc. has a 52 week low of $17.08 and a 52 week high of $31.86. The company's 50-day simple moving average is $27.37 and its two-hundred day simple moving average is $23.62.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (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 firm 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 EPS. Research analysts anticipate 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 will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, November 29th. This represents a $1.44 annualized dividend and a dividend yield of 4.80%. Columbia Banking System's dividend payout ratio is currently 62.34%.

Analyst Ratings Changes

Several research firms recently weighed in on COLB. Barclays raised their price objective on Columbia Banking System from $25.00 to $29.00 and gave the company an "equal weight" rating in a report on Friday, October 25th. Truist Financial raised their price objective on shares of Columbia Banking System from $28.00 to $30.00 and gave the company a "hold" rating in a report on Monday, October 28th. Keefe, Bruyette & Woods boosted their target price on shares of Columbia Banking System from $23.00 to $27.00 and gave the stock a "market perform" rating in a report on Friday, July 26th. Raymond James raised their price target on shares of Columbia Banking System from $26.00 to $28.00 and gave the company an "outperform" rating in a research note on Wednesday, October 2nd. Finally, Wedbush lifted their price objective 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. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $27.12.

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.