Headlands Technologies LLC Boosts Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

Headlands Technologies LLC raised its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 1,387.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,499 shares of the financial services provider’s stock after purchasing an additional 21,919 shares during the quarter. Headlands Technologies LLC’s holdings in Columbia Banking System were worth $455,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of COLB. Wellington Management Group LLP acquired a new position in shares of Columbia Banking System in the third quarter worth about $80,011,000. Teachers Retirement System of The State of Kentucky raised its position in shares of Columbia Banking System by 90.7% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 72,330 shares of the financial services provider’s stock worth $1,468,000 after purchasing an additional 34,397 shares during the last quarter. First Hawaiian Bank raised its position in shares of Columbia Banking System by 12.3% during the 4th quarter. First Hawaiian Bank now owns 20,062 shares of the financial services provider’s stock worth $535,000 after purchasing an additional 2,200 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Columbia Banking System by 21.4% during the 4th quarter. Nordea Investment Management AB now owns 146,066 shares of the financial services provider’s stock worth $3,910,000 after purchasing an additional 25,771 shares during the last quarter. Finally, Moody National Bank Trust Division raised its position in shares of Columbia Banking System by 43.8% during the 4th quarter. Moody National Bank Trust Division now owns 23,841 shares of the financial services provider’s stock worth $636,000 after purchasing an additional 7,256 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on COLB. JPMorgan Chase & Co. reduced their price target on shares of Columbia Banking System from $23.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Royal Bank of Canada dropped their price objective on shares of Columbia Banking System from $25.00 to $21.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 9th. Wedbush reaffirmed a “neutral” rating and set a $20.00 price objective on shares of Columbia Banking System in a research note on Friday, April 26th. Piper Sandler reaffirmed an “overweight” rating and set a $27.00 price objective on shares of Columbia Banking System in a research note on Wednesday, June 5th. Finally, Wells Fargo & Company dropped their price objective on shares of Columbia Banking System from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $22.04.

Columbia Banking System Stock Up 4.6 %

Shares of Columbia Banking System stock traded up $1.03 during mid-day trading on Tuesday, hitting $23.33. The stock had a trading volume of 1,456,109 shares, compared to its average volume of 2,518,759. The firm has a market cap of $4.88 billion, a P/E ratio of 9.57 and a beta of 0.66. The firm has a 50-day moving average of $19.47 and a two-hundred day moving average of $19.93. Columbia Banking System, Inc. has a 12-month low of $17.08 and a 12-month high of $28.11.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.12. The firm had revenue of $473.72 million during the quarter, compared to analysts’ expectations of $480.39 million. Columbia Banking System had a net margin of 16.52% and a return on equity of 11.58%. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the company posted $0.46 EPS. Sell-side analysts expect that Columbia Banking System, Inc. will post 2.44 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 24th were given a dividend of $0.36 per share. The ex-dividend date was Thursday, May 23rd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 6.17%. Columbia Banking System’s payout ratio is currently 61.80%.

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.