Hsbc Holdings PLC Buys 47,570 Shares of Columbia Banking System, Inc. $COLB

Hsbc Holdings PLC grew its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 356.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,918 shares of the financial services provider’s stock after acquiring an additional 47,570 shares during the period. Hsbc Holdings PLC’s holdings in Columbia Banking System were worth $1,707,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in Columbia Banking System by 31.4% during the 4th quarter. Wellington Management Group LLP now owns 18,106,228 shares of the financial services provider’s stock worth $506,069,000 after buying an additional 4,324,006 shares in the last quarter. State Street Corp boosted its holdings in Columbia Banking System by 32.5% in the third quarter. State Street Corp now owns 13,407,671 shares of the financial services provider’s stock valued at $345,113,000 after acquiring an additional 3,290,560 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Columbia Banking System by 68.1% in the third quarter. Dimensional Fund Advisors LP now owns 13,116,339 shares of the financial services provider’s stock worth $337,611,000 after purchasing an additional 5,313,883 shares during the period. Charles Schwab Investment Management Inc. increased its position in Columbia Banking System by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,564,529 shares of the financial services provider’s stock worth $351,179,000 after purchasing an additional 163,543 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Columbia Banking System by 140.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,666,769 shares of the financial services provider’s stock worth $242,237,000 after purchasing an additional 5,063,212 shares during the last quarter. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Columbia Banking System Stock Up 0.2%

Shares of NASDAQ COLB opened at $32.05 on Wednesday. The company’s fifty day moving average is $29.96 and its 200-day moving average is $29.25. The stock has a market cap of $9.28 billion, a price-to-earnings ratio of 12.77 and a beta of 0.63. Columbia Banking System, Inc. has a twelve month low of $22.77 and a twelve month high of $32.70.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data 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 analysts’ expectations of $677.34 million. Columbia Banking System had a net margin of 19.28% and a return on equity of 11.41%. The firm’s quarterly revenue was up 37.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 EPS. On average, research analysts anticipate that Columbia Banking System, Inc. will post 3.08 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Friday, May 29th. Columbia Banking System’s dividend payout ratio is 58.96%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on COLB shares. Barclays reduced their target price on shares of Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 7th. Piper Sandler boosted their price target on shares of Columbia Banking System from $34.00 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Weiss Ratings upgraded shares of Columbia Banking System from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, April 1st. Wells Fargo & Company lifted their target price on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, March 30th. Finally, Wall Street Zen cut shares of Columbia Banking System from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. One investment 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 company’s stock. According to MarketBeat.com, Columbia Banking System has an average rating of “Hold” and an average target price of $32.12.

Insider Activity at Columbia Banking System

In other news, CMO Devine David Moore sold 3,872 shares of Columbia Banking System stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $29.77, for a total transaction of $115,269.44. Following the transaction, the chief marketing officer owned 18,636 shares in the company, valued at $554,793.72. The trade was a 17.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.57% of the stock is currently owned by corporate insiders.

Columbia Banking System Company 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.