Expect Equity LLC Buys New Position in Columbia Banking System, Inc. $COLB

Expect Equity LLC purchased a new position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) during the second quarter, Holdings Channel reports. The firm purchased 143,065 shares of the financial services provider’s stock, valued at approximately $4,585,000. Columbia Banking System makes up about 3.0% of Expect Equity LLC’s holdings, making the stock its 2nd biggest holding.

Several other institutional investors also recently added to or reduced their stakes in COLB. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Columbia Banking System during the second quarter worth approximately $29,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Columbia Banking System in the 2nd quarter valued at $31,000. Cedar Mountain Advisors LLC raised its position in Columbia Banking System by 571.7% in the 1st quarter. Cedar Mountain Advisors LLC now owns 1,115 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 949 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Columbia Banking System by 194.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 794 shares during the period. Finally, Horizon Investments LLC boosted its stake in Columbia Banking System by 168.8% during the 4th quarter. Horizon Investments LLC now owns 1,231 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 773 shares during the period. Institutional investors and hedge funds own 92.53% of the company’s stock.

Columbia Banking System Stock Down 0.4%

NASDAQ COLB opened at $30.53 on Wednesday. The stock has a market capitalization of $8.64 billion, a P/E ratio of 12.16, a P/E/G ratio of 3.04 and a beta of 0.63. Columbia Banking System, Inc. has a 52-week low of $23.83 and a 52-week high of $33.67. The firm has a 50-day moving average price of $31.70 and a 200 day moving average price of $30.06.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.03. Columbia Banking System had a return on equity of 11.33% and a net margin of 19.96%.The company had revenue of $677.00 million for the quarter, compared to analyst estimates of $687.40 million. During the same quarter in the previous year, the company earned $0.76 EPS. On average, equities research analysts expect that Columbia Banking System, Inc. will post 3.03 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, August 28th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Friday, August 28th. Columbia Banking System’s dividend payout ratio (DPR) is currently 58.96%.

Analyst Ratings Changes

A number of research analysts have commented on COLB shares. Stephens lifted their price objective on shares of Columbia Banking System from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Fundamental Research set a $35.00 target price on shares of Columbia Banking System in a research note on Wednesday, July 1st. Barclays lowered their price target on Columbia Banking System from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Monday, August 3rd. Zacks Research downgraded Columbia Banking System from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. increased their price objective on Columbia Banking System from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $33.35.

Insider Buying and Selling at Columbia Banking System

In related news, CMO Devine David Moore sold 3,872 shares of Columbia Banking System stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $29.77, for a total value of $115,269.44. Following the sale, the chief marketing officer directly owned 18,636 shares in the company, valued at $554,793.72. The trade was a 17.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.57% of the stock is currently owned by company insiders.

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.