Columbia Banking System, Inc. (NASDAQ:COLB) Shares Acquired by Holocene Advisors LP

Holocene Advisors LP increased its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 1,001.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 962,330 shares of the financial services provider’s stock after purchasing an additional 874,986 shares during the quarter. Holocene Advisors LP owned 0.46% of Columbia Banking System worth $25,126,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Basswood Capital Management L.L.C. acquired a new stake in shares of Columbia Banking System in the third quarter worth $26,593,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Columbia Banking System during the 3rd quarter worth $409,000. Kestra Investment Management LLC acquired a new stake in Columbia Banking System in the 3rd quarter valued at $751,000. Verition Fund Management LLC raised its position in Columbia Banking System by 135.1% in the third quarter. Verition Fund Management LLC now owns 29,445 shares of the financial services provider’s stock valued at $769,000 after purchasing an additional 16,921 shares during the period. Finally, Capstone Investment Advisors LLC acquired a new position in shares of Columbia Banking System during the third quarter worth about $276,000. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Columbia Banking System Stock Performance

NASDAQ:COLB opened at $30.87 on Tuesday. The company has a market capitalization of $6.47 billion, a price-to-earnings ratio of 13.36 and a beta of 0.64. Columbia Banking System, Inc. has a one year low of $17.08 and a one year high of $32.85. The stock has a 50-day simple moving average of $28.41 and a 200 day simple moving average of $24.24.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. The business had revenue of $765.06 million during the quarter, compared to the consensus estimate of $478.80 million. During the same period in the previous year, the business earned $0.79 EPS. On average, equities research analysts forecast that Columbia Banking System, Inc. will post 2.63 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.36 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.66%. Columbia Banking System’s payout ratio is currently 62.34%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on COLB shares. Truist Financial increased their target price on Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, October 28th. Royal Bank of Canada lifted their price objective on shares of Columbia Banking System from $29.00 to $31.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Wedbush boosted their target price on shares of Columbia Banking System from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. lowered their price target on shares of Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, Wells Fargo & Company boosted their price objective on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Columbia Banking System presently has an average rating of “Hold” and an average target price of $27.12.

Columbia Banking System 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.