AMG National Trust Bank Invests $1.65 Million in Columbia Banking System, Inc. $COLB

AMG National Trust Bank acquired a new position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 64,243 shares of the financial services provider’s stock, valued at approximately $1,654,000.

A number of other large investors have also recently bought and sold shares of COLB. AQR Capital Management LLC increased its position in Columbia Banking System by 35.4% during the first quarter. AQR Capital Management LLC now owns 56,675 shares of the financial services provider’s stock worth $1,402,000 after buying an additional 14,824 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Columbia Banking System by 23.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 82,719 shares of the financial services provider’s stock worth $2,063,000 after purchasing an additional 15,845 shares in the last quarter. Millennium Management LLC raised its stake in Columbia Banking System by 572.7% in the 1st quarter. Millennium Management LLC now owns 484,730 shares of the financial services provider’s stock valued at $12,089,000 after purchasing an additional 412,674 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Columbia Banking System by 28.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 492,775 shares of the financial services provider’s stock valued at $12,290,000 after purchasing an additional 108,994 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Columbia Banking System by 1.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 887,267 shares of the financial services provider’s stock worth $22,128,000 after purchasing an additional 16,165 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Insider Activity at Columbia Banking System

In related news, Director Steven R. Gardner sold 13,725 shares of Columbia Banking System stock in a transaction on Friday, January 30th. The shares were sold at an average price of $29.43, for a total transaction of $403,926.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.68% of the company’s stock.

Columbia Banking System Trading Up 1.8%

Shares of COLB opened at $31.76 on Friday. Columbia Banking System, Inc. has a twelve month low of $19.61 and a twelve month high of $32.70. The firm has a market capitalization of $9.50 billion, a P/E ratio of 14.05 and a beta of 0.61. The stock’s fifty day simple moving average is $29.57 and its 200 day simple moving average is $27.53.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, January 22nd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.10. Columbia Banking System had a return on equity of 11.40% and a net margin of 17.11%.The business had revenue of $715.00 million during the quarter, compared to analysts’ expectations of $693.23 million. During the same quarter in the previous year, the business earned $0.71 EPS. Sell-side analysts predict that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be given a $0.37 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.48 annualized dividend and a dividend yield of 4.7%. Columbia Banking System’s dividend payout ratio is presently 65.49%.

Analyst Ratings Changes

A number of research firms have recently weighed in on COLB. Barclays boosted their price objective on shares of Columbia Banking System from $29.00 to $30.00 and gave the company an “equal weight” rating in a research report on Friday, December 19th. Citigroup increased their price target on Columbia Banking System from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, January 26th. Stephens raised their price objective on Columbia Banking System from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. DA Davidson upped their target price on Columbia Banking System from $30.00 to $32.50 and gave the company a “neutral” rating in a research note on Friday, January 23rd. Finally, Keefe, Bruyette & Woods increased their target price on Columbia Banking System from $31.00 to $33.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, Columbia Banking System presently has a consensus rating of “Hold” and an average target price of $31.88.

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.