Lighthouse Investment Partners LLC Acquires 484,304 Shares of Columbia Banking System, Inc. $COLB

Lighthouse Investment Partners LLC increased its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 268.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 664,684 shares of the financial services provider’s stock after acquiring an additional 484,304 shares during the quarter. Lighthouse Investment Partners LLC owned about 0.22% of Columbia Banking System worth $17,109,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Principal Financial Group Inc. raised its position in shares of Columbia Banking System by 39.4% in the third quarter. Principal Financial Group Inc. now owns 664,110 shares of the financial services provider’s stock valued at $17,094,000 after buying an additional 187,551 shares in the last quarter. Bank of New York Mellon Corp grew its position in Columbia Banking System by 145.3% during the third quarter. Bank of New York Mellon Corp now owns 7,019,088 shares of the financial services provider’s stock worth $180,671,000 after buying an additional 4,157,835 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Columbia Banking System by 45.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 278,899 shares of the financial services provider’s stock worth $7,179,000 after acquiring an additional 87,627 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Columbia Banking System by 25.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,495,780 shares of the financial services provider’s stock worth $192,941,000 after acquiring an additional 1,497,177 shares during the period. Finally, Linden Thomas Advisory Services LLC raised its holdings in Columbia Banking System by 66.5% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 121,972 shares of the financial services provider’s stock valued at $3,140,000 after acquiring an additional 48,702 shares in the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Columbia Banking System Stock Performance

Columbia Banking System stock opened at $26.23 on Monday. Columbia Banking System, Inc. has a 52 week low of $19.61 and a 52 week high of $32.70. The stock has a market capitalization of $7.75 billion, a P/E ratio of 11.61 and a beta of 0.60. The stock has a fifty day moving average of $29.48 and a 200-day moving average of $27.83.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.10. Columbia Banking System had a return on equity of 11.40% and a net margin of 17.11%.The business had revenue of $715.00 million for the quarter, compared to analyst estimates of $693.23 million. During the same period last year, the firm posted $0.71 earnings per share. On average, research analysts forecast that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Friday, February 27th. Columbia Banking System’s dividend payout ratio (DPR) is presently 65.49%.

Insider Activity at Columbia Banking System

In other Columbia Banking System news, VP Torran B. Nixon sold 2,240 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $28.85, for a total value of $64,624.00. Following the sale, the vice president owned 98,229 shares in the company, valued at $2,833,906.65. This trade represents a 2.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Steven R. Gardner sold 13,725 shares of the business’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $29.43, for a total transaction of $403,926.75. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 18,206 shares of company stock worth $531,859 over the last ninety days. 0.68% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

COLB has been the topic of several analyst reports. Weiss Ratings raised Columbia Banking System from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Stephens boosted their price target on Columbia Banking System from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. JPMorgan Chase & Co. upped their price objective on shares of Columbia Banking System from $31.00 to $33.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 16th. TD Cowen reiterated a “hold” rating on shares of Columbia Banking System in a research note on Wednesday, January 7th. Finally, Barclays raised their target price on shares of Columbia Banking System from $29.00 to $30.00 and gave the company an “equal weight” rating in a report on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $32.04.

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.