Landscape Capital Management L.L.C. Invests $1.72 Million in Columbia Banking System, Inc. $COLB

Landscape Capital Management L.L.C. acquired a new position in Columbia Banking System, Inc. (NASDAQ:COLB) in the fourth quarter, Holdings Channel.com reports. The fund acquired 61,606 shares of the financial services provider’s stock, valued at approximately $1,722,000.

A number of other institutional investors have also recently made changes to their positions in COLB. Vanguard Group Inc. boosted its position in shares of Columbia Banking System by 41.3% in the 3rd quarter. Vanguard Group Inc. now owns 29,851,392 shares of the financial services provider’s stock worth $768,375,000 after purchasing an additional 8,730,937 shares in the last quarter. Wellington Management Group LLP lifted its position in Columbia Banking System by 135.2% during the 3rd quarter. Wellington Management Group LLP now owns 13,782,222 shares of the financial services provider’s stock worth $354,754,000 after acquiring an additional 7,921,303 shares during the period. Dimensional Fund Advisors LP lifted its position in Columbia Banking System by 68.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 13,116,339 shares of the financial services provider’s stock worth $337,611,000 after acquiring an additional 5,313,883 shares during the period. Norges Bank acquired a new stake in Columbia Banking System during the 4th quarter worth about $103,012,000. Finally, State Street Corp lifted its position in Columbia Banking System by 32.5% during the 3rd quarter. State Street Corp now owns 13,407,671 shares of the financial services provider’s stock worth $345,113,000 after acquiring an additional 3,290,560 shares during the period. Institutional investors and hedge funds own 92.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on COLB. JPMorgan Chase & Co. lowered their price target on Columbia Banking System from $34.00 to $31.00 and set a “neutral” rating for the company in a research report on Wednesday, April 1st. Citigroup lifted their price target on Columbia Banking System from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Piper Sandler lifted their price target on Columbia Banking System from $34.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. UBS Group began coverage on Columbia Banking System in a research report on Tuesday, April 7th. They set a “neutral” rating and a $30.00 price target for the company. Finally, Wells Fargo & Company lifted their price target on Columbia Banking System from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Monday, March 30th. One research 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $32.13.

Insider Buying and Selling at Columbia Banking System

In other Columbia Banking System 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 completion of the transaction, the chief marketing officer owned 18,636 shares in the company, valued at approximately $554,793.72. This trade represents a 17.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.57% of the company’s stock.

Columbia Banking System Stock Performance

NASDAQ COLB opened at $30.95 on Tuesday. The stock has a 50-day simple moving average of $29.42 and a two-hundred day simple moving average of $29.02. The firm has a market capitalization of $8.96 billion, a P/E ratio of 12.33 and a beta of 0.63. Columbia Banking System, Inc. has a fifty-two week low of $21.91 and a fifty-two week 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 earnings per share 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 analyst estimates of $677.34 million. Columbia Banking System had a return on equity of 11.41% and a net margin of 19.28%.The company’s revenue was up 37.9% on a year-over-year basis. During the same quarter last year, the business posted $0.67 EPS. As a group, analysts forecast that Columbia Banking System, Inc. will post 3.08 earnings per share for the current year.

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were paid a dividend of $0.37 per share. The ex-dividend date was Friday, May 29th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.8%. Columbia Banking System’s dividend payout ratio (DPR) is presently 58.96%.

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.