GAMMA Investing LLC Acquires 1,290 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

GAMMA Investing LLC grew its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 54.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,640 shares of the financial services provider’s stock after purchasing an additional 1,290 shares during the quarter. GAMMA Investing LLC’s holdings in Columbia Banking System were worth $95,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Picton Mahoney Asset Management bought a new position in shares of Columbia Banking System during the 2nd quarter worth approximately $33,000. Abich Financial Wealth Management LLC raised its stake in shares of Columbia Banking System by 85.1% during the 1st quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 1,020 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Columbia Banking System by 111.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 1,380 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in shares of Columbia Banking System by 137,166.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 4,118 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 4,115 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of Columbia Banking System by 44.1% during the 2nd quarter. Signaturefd LLC now owns 5,058 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 1,548 shares in the last quarter. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Price Performance

COLB opened at $27.16 on Tuesday. The firm has a fifty day moving average price of $24.75 and a 200 day moving average price of $21.71. Columbia Banking System, Inc. has a 1 year low of $17.08 and a 1 year high of $28.11. The stock has a market cap of $5.69 billion, a P/E ratio of 11.66 and a beta of 0.64.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $472.15 million during the quarter, compared to analysts’ expectations of $476.01 million. Columbia Banking System had a net margin of 15.94% and a return on equity of 10.89%. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 earnings per share. Equities analysts expect that Columbia Banking System, Inc. will post 2.55 EPS for the current year.

Columbia Banking System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 23rd were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 5.30%. The ex-dividend date was Friday, August 23rd. Columbia Banking System’s dividend payout ratio is presently 61.80%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on COLB. Royal Bank of Canada boosted their price objective on shares of Columbia Banking System from $21.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. dropped their target price on shares of Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Wells Fargo & Company boosted their target price on shares of Columbia Banking System from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. Keefe, Bruyette & Woods boosted their target price on shares of Columbia Banking System from $23.00 to $27.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Finally, Stephens upped their price objective on shares of Columbia Banking System from $22.00 to $26.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $25.81.

Columbia Banking System 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.