33,959 Shares in Columbia Banking System, Inc. $COLB Acquired by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) in the first quarter, HoldingsChannel reports. The institutional investor acquired 33,959 shares of the financial services provider’s stock, valued at approximately $931,000.

A number of other large investors have also added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings in Columbia Banking System by 135.2% in the third 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 in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Columbia Banking System by 140.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,666,769 shares of the financial services provider’s stock worth $242,237,000 after acquiring an additional 5,063,212 shares during the last quarter. Norges Bank bought a new position in shares of Columbia Banking System during the fourth quarter valued at $103,012,000. North Reef Capital Management LP increased its holdings in shares of Columbia Banking System by 3,600.0% during the fourth quarter. North Reef Capital Management LP now owns 3,700,000 shares of the financial services provider’s stock valued at $103,415,000 after acquiring an additional 3,600,000 shares in the last quarter. Finally, State Street Corp raised its position in shares of Columbia Banking System by 32.5% in the 3rd quarter. State Street Corp now owns 13,407,671 shares of the financial services provider’s stock worth $345,113,000 after purchasing an additional 3,290,560 shares during the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Insider Buying and Selling at Columbia Banking System

In other news, CMO Devine David Moore sold 3,872 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $29.77, for a total value of $115,269.44. Following the transaction, the chief marketing officer owned 18,636 shares in the company, valued at $554,793.72. This represents a 17.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently commented on COLB. Fundamental Research set a $35.00 price objective on shares of Columbia Banking System in a research report on Wednesday. Wall Street Zen cut shares of Columbia Banking System from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Barclays reduced their price target on shares of Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Columbia Banking System in a research report on Monday, June 29th. Finally, JPMorgan Chase & Co. lifted their target price on Columbia Banking System from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Columbia Banking System has a consensus rating of “Hold” and a consensus price target of $32.65.

Columbia Banking System Price Performance

Shares of COLB opened at $31.72 on Friday. The firm has a market capitalization of $9.18 billion, a P/E ratio of 12.64 and a beta of 0.62. Columbia Banking System, Inc. has a one year low of $22.77 and a one year high of $32.77. The business has a fifty day moving average of $30.13 and a 200 day moving average of $29.31.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results 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 company had revenue of $675.00 million for the quarter, compared to the consensus estimate of $677.34 million. Columbia Banking System had a return on equity of 11.41% and a net margin of 19.28%.Columbia Banking System’s revenue was up 37.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 earnings per share. Analysts expect that Columbia Banking System, Inc. will post 3.08 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.48 annualized dividend and a dividend yield of 4.7%. Columbia Banking System’s dividend payout ratio 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.