93,956 Shares in Columbia Banking System, Inc. $COLB Acquired by Walleye Capital LLC

Walleye Capital LLC bought a new position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 93,956 shares of the financial services provider’s stock, valued at approximately $2,197,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. First Trust Advisors LP raised its holdings in shares of Columbia Banking System by 23.2% during the second quarter. First Trust Advisors LP now owns 1,894,750 shares of the financial services provider’s stock worth $44,299,000 after acquiring an additional 356,662 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Columbia Banking System by 7.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 18,325 shares of the financial services provider’s stock worth $428,000 after purchasing an additional 1,286 shares in the last quarter. Invesco Ltd. raised its stake in shares of Columbia Banking System by 15.4% in the 2nd quarter. Invesco Ltd. now owns 2,975,700 shares of the financial services provider’s stock valued at $69,572,000 after purchasing an additional 397,403 shares during the period. Systematic Financial Management LP lifted its holdings in shares of Columbia Banking System by 0.9% in the second quarter. Systematic Financial Management LP now owns 1,184,835 shares of the financial services provider’s stock valued at $27,701,000 after purchasing an additional 11,140 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Columbia Banking System in the second quarter valued at about $6,751,000. Institutional investors and hedge funds own 92.53% of the company’s stock.

Columbia Banking System Price Performance

Columbia Banking System stock opened at $28.30 on Tuesday. The company’s 50-day moving average is $26.54 and its 200-day moving average is $25.39. The firm has a market capitalization of $8.47 billion, a PE ratio of 12.75 and a beta of 0.62. Columbia Banking System, Inc. has a fifty-two week low of $19.61 and a fifty-two week high of $30.49.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings results on Monday, March 4th. The financial services provider reported $0.76 EPS for the quarter. The business had revenue of $348.47 million during the quarter. Columbia Banking System had a return on equity of 11.13% and a net margin of 15.98%. As a group, analysts expect that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Friday, November 28th. This is an increase from Columbia Banking System’s previous quarterly dividend of $0.36. Columbia Banking System’s payout ratio is 66.67%.

Wall Street Analyst Weigh In

COLB has been the subject of a number of research reports. TD Cowen assumed coverage on Columbia Banking System in a report on Thursday, September 25th. They set a “hold” rating and a $28.00 price objective for the company. Raymond James Financial raised Columbia Banking System from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $27.00 to $31.00 in a research report on Monday, September 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Columbia Banking System in a research note on Monday, December 1st. Cowen started coverage on shares of Columbia Banking System in a research report on Wednesday, September 24th. They issued a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods upgraded shares of Columbia Banking System from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $30.00 to $31.00 in a report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $29.38.

Columbia Banking System Company 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.