Cwm LLC Raises Stock Holdings in Columbia Banking System, Inc. $COLB

Cwm LLC boosted its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 395.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,897 shares of the financial services provider’s stock after purchasing an additional 41,428 shares during the quarter. Cwm LLC’s holdings in Columbia Banking System were worth $1,336,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. West Oak Capital LLC acquired a new stake in shares of Columbia Banking System in the 3rd quarter worth $28,000. Geneos Wealth Management Inc. boosted its stake in shares of 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 acquiring an additional 794 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Columbia Banking System by 53.5% in the 2nd quarter. Bessemer Group Inc. now owns 1,790 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 624 shares during the period. UMB Bank n.a. increased its stake in Columbia Banking System by 38.1% in the 2nd quarter. UMB Bank n.a. now owns 2,259 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 623 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in Columbia Banking System by 51.3% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 2,270 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 770 shares in the last quarter. 92.53% of the stock is owned by institutional investors and hedge funds.

Columbia Banking System Stock Performance

Shares of NASDAQ:COLB opened at $28.19 on Monday. The company’s fifty day moving average is $27.70 and its two-hundred day moving average is $26.11. Columbia Banking System, Inc. has a 1-year low of $19.61 and a 1-year high of $29.61. The stock has a market capitalization of $8.43 billion, a price-to-earnings ratio of 12.70 and a beta of 0.60.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Monday, March 4th. The financial services provider reported $0.76 EPS for the quarter. Columbia Banking System had a return on equity of 11.13% and a net margin of 15.98%.The company had revenue of $348.47 million during the quarter. Sell-side analysts expect that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were issued a $0.37 dividend. This is a boost from Columbia Banking System’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, November 28th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.3%. Columbia Banking System’s dividend payout ratio is 66.67%.

Analyst Ratings Changes

COLB has been the subject of a number of research reports. TD Cowen initiated coverage on shares of Columbia Banking System in a research report on Thursday, September 25th. They set a “hold” rating and a $28.00 target price for the company. Citigroup raised their price target on Columbia Banking System from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Raymond James Financial upgraded shares of Columbia Banking System from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $27.00 to $31.00 in a report on Monday, September 15th. Piper Sandler set a $33.00 target price on Columbia Banking System in a report on Monday, November 3rd. Finally, Barclays upped their price target on shares of Columbia Banking System from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $29.58.

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.