Y Intercept Hong Kong Ltd Has $2.94 Million Stock Holdings in Columbia Banking System, Inc. $COLB

Y Intercept Hong Kong Ltd boosted its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 39.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 114,134 shares of the financial services provider’s stock after buying an additional 32,356 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Columbia Banking System were worth $2,938,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. True Wealth Design LLC increased its stake in shares of Columbia Banking System by 612.8% in the third quarter. True Wealth Design LLC now owns 1,005 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 864 shares during the period. West Oak Capital LLC acquired a new stake in Columbia Banking System in the 3rd quarter valued at approximately $28,000. Quent Capital LLC bought a new position in Columbia Banking System in the 3rd quarter worth approximately $29,000. First Horizon Corp acquired a new position in shares of Columbia Banking System during the third quarter worth approximately $31,000. Finally, Geneos Wealth Management Inc. boosted its position in shares of Columbia Banking System by 194.6% in the first quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 794 shares during the period. Institutional investors own 92.53% of the company’s stock.

Analyst Upgrades and Downgrades

COLB has been the topic of a number of research reports. DA Davidson boosted their target price on shares of Columbia Banking System from $30.00 to $32.50 and gave the stock a “neutral” rating in a research report on Friday. Royal Bank Of Canada boosted their price objective on shares of Columbia Banking System from $30.00 to $32.00 and gave the stock a “sector perform” rating in a report on Friday. TD Cowen reiterated a “hold” rating on shares of Columbia Banking System in a research note on Wednesday, January 7th. Stephens boosted their price target on Columbia Banking System from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Columbia Banking System in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $31.65.

Columbia Banking System Stock Up 0.6%

Shares of COLB opened at $29.05 on Tuesday. The stock has a market cap of $8.69 billion, a price-to-earnings ratio of 12.87 and a beta of 0.60. Columbia Banking System, Inc. has a 12 month low of $19.61 and a 12 month high of $31.11. The company has a 50-day moving average price of $28.44 and a two-hundred day moving average price of $26.66.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.10. The company had revenue of $715.00 million for the quarter, compared to analyst estimates of $693.23 million. Columbia Banking System had a return on equity of 11.40% and a net margin of 17.11%.During the same period in the prior year, the company posted $0.71 EPS. Equities research analysts expect that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, November 28th. This is a boost from Columbia Banking System’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.1%. Columbia Banking System’s dividend payout ratio (DPR) is 65.49%.

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.