Leeward Investments LLC MA Sells 24,277 Shares of Columbia Banking System, Inc. $COLB

Leeward Investments LLC MA decreased its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 2.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 880,432 shares of the financial services provider’s stock after selling 24,277 shares during the period. Columbia Banking System makes up approximately 1.2% of Leeward Investments LLC MA’s holdings, making the stock its 15th largest holding. Leeward Investments LLC MA’s holdings in Columbia Banking System were worth $24,150,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in shares of Columbia Banking System by 31.4% during the 4th quarter. Wellington Management Group LLP now owns 18,106,228 shares of the financial services provider’s stock valued at $506,069,000 after purchasing an additional 4,324,006 shares during the last quarter. State Street Corp lifted its position in 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 buying an additional 3,290,560 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Columbia Banking System by 68.1% in the third quarter. Dimensional Fund Advisors LP now owns 13,116,339 shares of the financial services provider’s stock worth $337,611,000 after buying an additional 5,313,883 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Columbia Banking System by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,564,529 shares of the financial services provider’s stock worth $351,179,000 after buying an additional 163,543 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Columbia Banking System by 11.9% during the third quarter. American Century Companies Inc. now owns 10,016,178 shares of the financial services provider’s stock valued at $257,816,000 after acquiring an additional 1,067,491 shares during the last quarter. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Stock Performance

Shares of COLB stock opened at $31.27 on Wednesday. Columbia Banking System, Inc. has a fifty-two week low of $22.77 and a fifty-two week high of $32.70. The stock has a 50 day moving average price of $29.69 and a two-hundred day moving average price of $29.13. The company has a market capitalization of $9.05 billion, a P/E ratio of 12.46 and a beta of 0.63.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data 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. 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 during the quarter, compared to analyst estimates of $677.34 million. During the same quarter in the prior year, the firm posted $0.67 earnings per share. The business’s quarterly revenue was up 37.9% compared to the same quarter last year. As a group, equities analysts predict that Columbia Banking System, Inc. will post 3.08 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend was Friday, May 29th. Columbia Banking System’s dividend payout ratio (DPR) is 58.96%.

Analysts Set New Price Targets

Several research analysts have commented on COLB shares. UBS Group started coverage on shares of Columbia Banking System in a research note on Tuesday, April 7th. They set a “neutral” rating and a $30.00 price target on the stock. Wall Street Zen cut shares of Columbia Banking System from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Barclays reduced their target price on shares of Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 7th. JPMorgan Chase & Co. decreased their target price on shares of Columbia Banking System from $34.00 to $31.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 1st. Finally, 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 research note on Monday, April 27th. One 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $32.12.

Insider Activity

In other news, CMO Devine David Moore sold 3,872 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $29.77, for a total transaction of $115,269.44. Following the completion of the transaction, the chief marketing officer directly owned 18,636 shares of the company’s stock, valued at approximately $554,793.72. This represents a 17.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.57% of the company’s stock.

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.