LSV Asset Management Has $28.53 Million Position in Columbia Banking System, Inc. $COLB

LSV Asset Management lowered its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,020,784 shares of the financial services provider’s stock after selling 21,800 shares during the quarter. LSV Asset Management owned about 0.34% of Columbia Banking System worth $28,531,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. TD Waterhouse Canada Inc. grew its position in Columbia Banking System by 6.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 5,949 shares of the financial services provider’s stock worth $166,000 after buying an additional 348 shares in the last quarter. Wedbush Securities Inc. grew its position in Columbia Banking System by 4.5% during the third quarter. Wedbush Securities Inc. now owns 9,915 shares of the financial services provider’s stock worth $255,000 after buying an additional 423 shares in the last quarter. Linden Thomas Advisory Services LLC grew its position in Columbia Banking System by 0.4% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 122,428 shares of the financial services provider’s stock worth $3,422,000 after buying an additional 456 shares in the last quarter. Peregrine Asset Advisers Inc. grew its position in Columbia Banking System by 4.9% during the third quarter. Peregrine Asset Advisers Inc. now owns 9,774 shares of the financial services provider’s stock worth $252,000 after buying an additional 457 shares in the last quarter. Finally, Sittner & Nelson LLC grew its position in Columbia Banking System by 1.2% during the third quarter. Sittner & Nelson LLC now owns 37,519 shares of the financial services provider’s stock worth $966,000 after buying an additional 460 shares in the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on COLB shares. JPMorgan Chase & Co. reduced their target price on Columbia Banking System from $34.00 to $31.00 and set a “neutral” rating on the stock in a report on Wednesday, April 1st. Weiss Ratings raised Columbia Banking System from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, April 1st. Wall Street Zen downgraded Columbia Banking System from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Piper Sandler raised their target price on Columbia Banking System from $34.00 to $36.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Finally, Citigroup raised their target price on Columbia Banking System from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $32.13.

Insider Buying and Selling

In other Columbia Banking System news, VP Torran B. Nixon sold 2,241 shares of Columbia Banking System stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $28.25, for a total transaction of $63,308.25. Following the transaction, the vice president directly owned 100,469 shares of the company’s stock, valued at approximately $2,838,249.25. The trade was a 2.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 5,629 shares of company stock worth $158,044. 0.57% of the stock is currently owned by insiders.

Columbia Banking System Price Performance

NASDAQ COLB opened at $29.73 on Monday. Columbia Banking System, Inc. has a twelve month low of $21.91 and a twelve month high of $32.70. The company has a market cap of $8.61 billion, a price-to-earnings ratio of 11.84 and a beta of 0.63. The business’s fifty day moving average is $28.46 and its 200 day moving average is $28.67.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. Columbia Banking System had a return on equity of 11.41% and a net margin of 19.28%.The company had revenue of $675.00 million for the quarter, compared to the consensus estimate of $677.34 million. During the same quarter last year, the business posted $0.67 EPS. Columbia Banking System’s revenue for the quarter was up 37.9% on a year-over-year basis. On average, research analysts anticipate that Columbia Banking System, Inc. will post 3.08 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.48 annualized dividend and a yield of 5.0%. Columbia Banking System’s payout ratio is presently 58.96%.

Columbia Banking System Profile

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.