40,000 Shares in Columbia Banking System, Inc. $COLB Acquired by First Eagle Investment Management LLC

First Eagle Investment Management LLC bought a new stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 40,000 shares of the financial services provider’s stock, valued at approximately $1,030,000.

Several other hedge funds have also made changes to their positions in COLB. Vanguard Group Inc. increased its stake in shares of Columbia Banking System by 41.3% during the third quarter. Vanguard Group Inc. now owns 29,851,392 shares of the financial services provider’s stock valued at $768,375,000 after buying an additional 8,730,937 shares during the period. State Street Corp increased its position in Columbia Banking System by 0.6% during the 2nd quarter. State Street Corp now owns 10,117,111 shares of the financial services provider’s stock valued at $236,538,000 after purchasing an additional 64,096 shares during the period. American Century Companies Inc. raised its holdings in shares of Columbia Banking System by 11.9% in the 3rd quarter. American Century Companies Inc. now owns 10,016,178 shares of the financial services provider’s stock valued at $257,816,000 after purchasing an additional 1,067,491 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Columbia Banking System by 2.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,816,989 shares of the financial services provider’s stock worth $182,761,000 after purchasing an additional 149,718 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Columbia Banking System by 14.1% during the third quarter. JPMorgan Chase & Co. now owns 7,536,008 shares of the financial services provider’s stock valued at $193,977,000 after purchasing an additional 929,862 shares in the last quarter. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Steven R. Gardner sold 13,725 shares of the company’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $29.43, for a total value of $403,926.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Torran B. Nixon sold 2,240 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $28.85, for a total value of $64,624.00. Following the completion of the transaction, the vice president owned 98,229 shares of the company’s stock, valued at $2,833,906.65. This trade represents a 2.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 18,206 shares of company stock worth $531,859 over the last three months. Corporate insiders own 0.68% of the company’s stock.

Columbia Banking System Stock Performance

Columbia Banking System stock opened at $28.00 on Friday. The stock has a market cap of $8.28 billion, a PE ratio of 12.39 and a beta of 0.60. The stock has a 50-day moving average of $29.66 and a two-hundred day moving average of $27.79. Columbia Banking System, Inc. has a one year low of $19.61 and a one year high of $32.70.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.10. The firm had revenue of $715.00 million for the quarter, compared to the consensus estimate of $693.23 million. Columbia Banking System had a net margin of 17.11% and a return on equity of 11.40%. During the same quarter in the prior year, the company posted $0.71 earnings per share. As a group, sell-side analysts predict that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 5.3%. The ex-dividend date is Friday, February 27th. Columbia Banking System’s payout ratio is presently 65.49%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. DA Davidson boosted their price objective on shares of Columbia Banking System from $30.00 to $32.50 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. Keefe, Bruyette & Woods upped their price objective on Columbia Banking System from $31.00 to $33.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. UBS Group reaffirmed a “neutral” rating and set a $33.00 price objective on shares of Columbia Banking System in a research report on Wednesday, February 4th. TD Cowen reiterated a “hold” rating on shares of Columbia Banking System in a report on Wednesday, January 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of Columbia Banking System from $31.00 to $33.00 and gave the company a “neutral” rating in a research report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, Columbia Banking System currently has an average rating of “Hold” and a consensus target price of $32.04.

About Columbia Banking System

Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.

The company’s offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.