Leeward Investments LLC MA Boosts Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

Leeward Investments LLC MA boosted its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 16.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,083,995 shares of the financial services provider’s stock after buying an additional 152,083 shares during the quarter. Columbia Banking System accounts for approximately 1.3% of Leeward Investments LLC MA’s holdings, making the stock its 15th biggest position. Leeward Investments LLC MA owned approximately 0.52% of Columbia Banking System worth $28,303,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. LSV Asset Management bought a new position in shares of Columbia Banking System during the 1st quarter valued at approximately $2,850,000. BNP Paribas Financial Markets boosted its holdings in Columbia Banking System by 185.1% during the first quarter. BNP Paribas Financial Markets now owns 173,776 shares of the financial services provider’s stock worth $3,363,000 after buying an additional 112,826 shares in the last quarter. First Hawaiian Bank boosted its holdings in Columbia Banking System by 81.4% during the second quarter. First Hawaiian Bank now owns 52,594 shares of the financial services provider’s stock worth $1,046,000 after buying an additional 23,597 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Columbia Banking System by 2.6% during the first quarter. Vanguard Group Inc. now owns 22,327,719 shares of the financial services provider’s stock worth $432,041,000 after buying an additional 574,509 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Columbia Banking System by 7.6% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 420,374 shares of the financial services provider’s stock worth $8,135,000 after buying an additional 29,728 shares in the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Columbia Banking System Stock Performance

Shares of NASDAQ COLB opened at $31.69 on Thursday. The firm has a market capitalization of $6.64 billion, a P/E ratio of 13.72 and a beta of 0.62. Columbia Banking System, Inc. has a one year low of $17.08 and a one year high of $31.74. The company’s fifty day moving average is $26.22 and its two-hundred day moving average is $22.86.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.62 by $0.07. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. The business had revenue of $765.06 million for the quarter, compared to analyst estimates of $478.80 million. During the same period in the previous year, the firm earned $0.79 EPS. On average, sell-side analysts forecast that Columbia Banking System, Inc. will post 2.6 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 23rd were given a $0.36 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.44 annualized dividend and a dividend yield of 4.54%. Columbia Banking System’s dividend payout ratio is presently 62.34%.

Analysts Set New Price Targets

A number of analysts recently issued reports on COLB shares. Raymond James increased their price target on shares of Columbia Banking System from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Wells Fargo & Company increased their price objective on shares of Columbia Banking System from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Truist Financial increased their price objective on shares of Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a report on Monday, October 28th. Wedbush increased their price objective on shares of Columbia Banking System from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, StockNews.com raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a report on Saturday, October 5th. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Columbia Banking System has an average rating of “Hold” and a consensus target price of $27.12.

Columbia Banking System Company Profile

Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.