GAMMA Investing LLC Buys 1,368 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

GAMMA Investing LLC raised its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 34.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,331 shares of the financial services provider’s stock after acquiring an additional 1,368 shares during the quarter. GAMMA Investing LLC’s holdings in Columbia Banking System were worth $133,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Aster Capital Management DIFC Ltd acquired a new stake in shares of Columbia Banking System in the 4th quarter worth $29,000. SBI Securities Co. Ltd. purchased a new position in Columbia Banking System in the 4th quarter worth $32,000. Kapitalo Investimentos Ltda purchased a new position in Columbia Banking System in the 4th quarter worth $42,000. Meeder Asset Management Inc. purchased a new position in Columbia Banking System in the 4th quarter worth $42,000. Finally, UMB Bank n.a. raised its stake in shares of Columbia Banking System by 141.3% during the 1st quarter. UMB Bank n.a. now owns 1,636 shares of the financial services provider’s stock valued at $41,000 after buying an additional 958 shares during the last quarter. Institutional investors own 92.53% of the company’s stock.

Wall Street Analysts Forecast Growth

COLB has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reduced their price objective on Columbia Banking System from $33.00 to $30.00 and set a “market perform” rating for the company in a research note on Thursday, April 24th. Wall Street Zen assumed coverage on Columbia Banking System in a research note on Thursday, May 22nd. They issued a “hold” rating for the company. Royal Bank Of Canada cut their price target on Columbia Banking System from $32.00 to $27.00 and set a “sector perform” rating for the company in a research note on Thursday, April 24th. Jefferies Financial Group began coverage on Columbia Banking System in a research note on Wednesday, May 21st. They set a “hold” rating and a $27.00 price objective for the company. Finally, Wells Fargo & Company upped their price objective on Columbia Banking System from $26.00 to $29.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Eleven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $29.29.

Columbia Banking System Stock Up 1.5%

Shares of NASDAQ COLB opened at $25.45 on Friday. Columbia Banking System, Inc. has a 52-week low of $19.18 and a 52-week high of $32.85. The business’s 50 day moving average is $23.68 and its two-hundred day moving average is $25.01. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of 10.78 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. Columbia Banking System had a return on equity of 11.12% and a net margin of 16.85%. The firm had revenue of $481.92 million for the quarter, compared to analyst estimates of $482.86 million. During the same quarter in the prior year, the company posted $0.65 earnings per share. Columbia Banking System’s revenue for the quarter was up 3.7% compared to the same quarter last year. Analysts anticipate that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were paid a $0.36 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.44 annualized dividend and a yield of 5.66%. Columbia Banking System’s dividend payout ratio is presently 61.02%.

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.