Vaughan Nelson Investment Management L.P. Makes New Investment in Columbia Banking System, Inc. $COLB

Vaughan Nelson Investment Management L.P. purchased a new position in Columbia Banking System, Inc. (NASDAQ:COLB) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,232,470 shares of the financial services provider’s stock, valued at approximately $33,807,000.

Several other institutional investors and hedge funds have also made changes to their positions in COLB. JPMorgan Chase & Co. increased its position in shares of 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 valued at $193,977,000 after purchasing an additional 929,862 shares during the period. HoldCo Asset Management LP lifted its holdings in shares of Columbia Banking System by 27.6% in the third 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 boosted its stake in Columbia Banking System by 268.5% during the third 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 in the last quarter. BW Gestao de Investimentos Ltda. bought a new position in Columbia Banking System during the fourth quarter valued at about $9,782,000. Finally, Vanguard Group Inc. boosted its stake in Columbia Banking System by 41.3% during the third quarter. Vanguard Group Inc. now owns 29,851,392 shares of the financial services provider’s stock valued at $768,375,000 after buying an additional 8,730,937 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors.

Columbia Banking System Trading Up 1.0%

Shares of COLB opened at $30.87 on Tuesday. The business’s 50-day moving average price is $29.64 and its 200 day moving average price is $29.10. The stock has a market capitalization of $8.94 billion, a P/E ratio of 12.30 and a beta of 0.63. Columbia Banking System, Inc. has a 1-year low of $22.14 and a 1-year high of $32.70.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. Columbia Banking System had a return on equity of 11.41% and a net margin of 19.28%.The firm had revenue of $675.00 million for the quarter, compared to the consensus estimate of $677.34 million. During the same quarter in the previous year, the company earned $0.67 EPS. The business’s revenue for the quarter was up 37.9% compared to the same quarter last year. On average, research analysts predict that Columbia Banking System, Inc. will post 3.08 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 issued 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 payout ratio is currently 58.96%.

Insider Activity

In other news, CMO Devine David Moore sold 3,872 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $29.77, for a total transaction of $115,269.44. Following the sale, the chief marketing officer owned 18,636 shares in the company, valued at $554,793.72. The trade was a 17.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Wall Street Zen downgraded shares of Columbia Banking System from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Citigroup raised their target price on shares of Columbia Banking System from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Barclays decreased their price target on shares of Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 7th. Wells Fargo & Company upped their price target on Columbia Banking System from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Monday, March 30th. Finally, Piper Sandler increased their price objective on Columbia Banking System from $34.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $32.12.

Columbia Banking System 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.