Easterly Investment Partners LLC Boosts Stock Holdings in Columbia Banking System, Inc. $COLB

Easterly Investment Partners LLC lifted its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 10.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 713,206 shares of the financial services provider’s stock after purchasing an additional 68,388 shares during the quarter. Columbia Banking System comprises about 1.2% of Easterly Investment Partners LLC’s holdings, making the stock its 11th biggest position. Easterly Investment Partners LLC’s holdings in Columbia Banking System were worth $19,934,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new position in shares of Columbia Banking System in the 4th quarter valued at about $103,012,000. Eurizon Capital SGR S.p.A. purchased a new stake in Columbia Banking System in the 4th quarter worth $58,000. Geode Capital Management LLC increased its holdings in Columbia Banking System by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 5,698,017 shares of the financial services provider’s stock worth $159,291,000 after acquiring an additional 151,297 shares in the last quarter. Bleakley Financial Group LLC increased its holdings in Columbia Banking System by 8.6% in the 4th quarter. Bleakley Financial Group LLC now owns 33,922 shares of the financial services provider’s stock worth $948,000 after acquiring an additional 2,699 shares in the last quarter. Finally, Clearstead Advisors LLC increased its holdings in Columbia Banking System by 186.3% in the 4th quarter. Clearstead Advisors LLC now owns 2,585 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 1,682 shares in the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Columbia Banking System Stock Performance

Shares of COLB opened at $29.64 on Monday. Columbia Banking System, Inc. has a 12-month low of $21.91 and a 12-month high of $32.70. The firm has a 50-day moving average price of $28.81 and a 200 day moving average price of $28.78. The firm has a market capitalization of $8.58 billion, a P/E ratio of 11.81 and a beta of 0.63.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The firm had revenue of $675.00 million during the quarter, compared to analyst estimates of $677.34 million. Columbia Banking System had a net margin of 19.28% and a return on equity of 11.41%. Columbia Banking System’s quarterly revenue was up 37.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.67 earnings per share. Equities research analysts predict that Columbia Banking System, Inc. will post 3.08 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 5.0%. The ex-dividend date is Friday, May 29th. Columbia Banking System’s dividend payout ratio is presently 58.96%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on COLB shares. Piper Sandler boosted their price target on shares of Columbia Banking System from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Barclays cut 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 report on Tuesday, April 7th. JPMorgan Chase & Co. cut their price objective on Columbia Banking System from $34.00 to $31.00 and set a “neutral” rating for the company in a research note on Wednesday, April 1st. Wall Street Zen lowered Columbia Banking System from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Finally, Citigroup boosted their price objective on Columbia Banking System from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $32.13.

Insiders Place Their Bets

In related news, VP Torran B. Nixon sold 2,241 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $28.25, for a total value of $63,308.25. Following the completion of the transaction, the vice president directly owned 100,469 shares in the company, valued at approximately $2,838,249.25. This represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 5,629 shares of company stock valued at $158,044 in the last ninety days. Corporate insiders own 0.57% of the company’s stock.

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.