BW Gestao de Investimentos Ltda. Makes New $9.78 Million Investment in Columbia Banking System, Inc. $COLB

BW Gestao de Investimentos Ltda. purchased a new position in Columbia Banking System, Inc. (NASDAQ:COLB) during the 4th quarter, HoldingsChannel reports. The firm purchased 350,000 shares of the financial services provider’s stock, valued at approximately $9,782,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of COLB. Geneos Wealth Management Inc. raised its holdings in Columbia Banking System by 194.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock worth $30,000 after buying an additional 794 shares during the period. Horizon Investments LLC increased its holdings in shares of Columbia Banking System by 168.8% in the 4th quarter. Horizon Investments LLC now owns 1,231 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 773 shares during the period. Torren Management LLC acquired a new position in shares of Columbia Banking System in the 4th quarter valued at about $49,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Columbia Banking System in the 4th quarter valued at about $58,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Columbia Banking System in the 3rd quarter valued at about $63,000. Institutional investors and hedge funds own 92.53% of the company’s stock.

Columbia Banking System Trading Down 2.2%

Shares of NASDAQ COLB opened at $29.00 on Tuesday. The business has a fifty day simple moving average of $28.86 and a 200 day simple moving average of $28.79. The firm has a market capitalization of $8.40 billion, a price-to-earnings ratio of 11.55 and a beta of 0.63. Columbia Banking System, Inc. has a one year low of $21.91 and a one year high of $32.70.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $675.00 million during the quarter, compared to analyst estimates of $677.34 million. Columbia Banking System had a return on equity of 11.41% and a net margin of 19.28%.Columbia Banking System’s revenue was up 37.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.67 earnings per share. 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 company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Friday, May 29th. Columbia Banking System’s dividend payout ratio is presently 58.96%.

Insider Activity at Columbia Banking System

In related news, VP Torran B. Nixon sold 2,240 shares of the company’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 directly owned 98,229 shares in the company, valued at approximately $2,833,906.65. This represents a 2.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 3,388 shares of company stock valued at $94,736 in the last three months. Corporate insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

COLB has been the topic of a number of research reports. UBS Group began coverage on Columbia Banking System in a report on Tuesday, April 7th. They issued a “neutral” rating and a $30.00 target price on the stock. Barclays lowered their price target on Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 7th. Citigroup boosted their price target on Columbia Banking System from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. JPMorgan Chase & Co. decreased their target price on Columbia Banking System from $34.00 to $31.00 and set a “neutral” rating for the company in a research report on Wednesday, April 1st. Finally, Wells Fargo & Company upped their target price on Columbia Banking System from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $32.13.

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.