General American Investors Co. Inc. Sells 30,000 Shares of Columbia Banking System, Inc. $COLB

General American Investors Co. Inc. cut its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 18.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 135,556 shares of the financial services provider’s stock after selling 30,000 shares during the period. General American Investors Co. Inc.’s holdings in Columbia Banking System were worth $3,718,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of COLB. JPMorgan Chase & Co. lifted its holdings in Columbia Banking System by 14.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,536,008 shares of the financial services provider’s stock worth $193,977,000 after buying an additional 929,862 shares in the last quarter. HoldCo Asset Management LP increased its stake in shares of Columbia Banking System by 27.6% in the 3rd quarter. HoldCo Asset Management LP now owns 5,722,786 shares of the financial services provider’s stock valued at $147,305,000 after buying an additional 1,239,489 shares during the period. Lighthouse Investment Partners LLC increased its stake in shares of Columbia Banking System by 268.5% in the 3rd quarter. Lighthouse Investment Partners LLC now owns 664,684 shares of the financial services provider’s stock valued at $17,109,000 after buying an additional 484,304 shares during the period. BW Gestao de Investimentos Ltda. bought a new stake in shares of Columbia Banking System during the fourth quarter worth $9,782,000. Finally, Easterly Investment Partners LLC lifted its stake in shares of Columbia Banking System by 10.6% during the fourth quarter. Easterly Investment Partners LLC now owns 713,206 shares of the financial services provider’s stock valued at $19,934,000 after acquiring an additional 68,388 shares during the period. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CMO Devine David Moore sold 3,872 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $29.77, for a total value of $115,269.44. Following the completion of the sale, the chief marketing officer owned 18,636 shares in the company, valued at $554,793.72. This represents a 17.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is owned by company insiders.

Columbia Banking System Price Performance

Shares of Columbia Banking System stock traded up $0.23 during trading on Friday, hitting $32.05. 1,746,336 shares of the company were exchanged, compared to its average volume of 2,791,454. The firm has a market capitalization of $9.28 billion, a P/E ratio of 12.77 and a beta of 0.62. The firm’s fifty day moving average price is $30.37 and its 200 day moving average price is $29.41. Columbia Banking System, Inc. has a 1-year low of $22.77 and a 1-year high of $32.77.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $675.00 million for the quarter, compared to the consensus estimate of $677.34 million. Columbia Banking System had a net margin of 19.28% and a return on equity of 11.41%. Columbia Banking System’s revenue for the quarter was up 37.9% on a year-over-year basis. During the same period last year, the company posted $0.67 EPS. As a group, equities research analysts anticipate that Columbia Banking System, Inc. will post 3.05 earnings per share for the current year.

Columbia Banking System Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Friday, May 29th. Columbia Banking System’s dividend payout ratio (DPR) is currently 58.96%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wells Fargo & Company lifted their price objective on Columbia Banking System from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. Wall Street Zen lowered shares of Columbia Banking System from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Columbia Banking System in a research report on Monday, June 29th. UBS Group initiated coverage on shares of Columbia Banking System in a report on Tuesday, April 7th. They issued a “neutral” rating and a $30.00 price objective on the stock. Finally, Piper Sandler lifted their target price on shares of Columbia Banking System from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, four have given 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 $32.81.

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.