Carlson Capital L.P. Takes Position in Columbia Banking System, Inc. $COLB

Carlson Capital L.P. acquired a new position in Columbia Banking System, Inc. (NASDAQ:COLB) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 66,509 shares of the financial services provider’s stock, valued at approximately $1,824,000. Columbia Banking System comprises approximately 0.6% of Carlson Capital L.P.’s portfolio, making the stock its 28th largest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cedar Mountain Advisors LLC boosted its holdings 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 period. Geneos Wealth Management Inc. grew its position in Columbia Banking System by 194.6% in 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 last quarter. Horizon Investments LLC increased its holdings in shares of 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. Rossby Financial LCC bought a new position in shares of Columbia Banking System during the 4th quarter worth about $36,000. Finally, Atlas Capital Advisors Inc. acquired a new position in shares of Columbia Banking System during the fourth quarter valued at about $43,000. Institutional investors own 92.53% of the company’s stock.

Insiders Place Their Bets

In other Columbia Banking System news, CMO Devine David Moore sold 3,872 shares of the company’s stock in a transaction 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. This represents a 17.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.57% of the stock is owned by company insiders.

Columbia Banking System Stock Up 0.1%

NASDAQ:COLB opened at $31.27 on Friday. The firm has a market capitalization of $9.05 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 3.10 and a beta of 0.62. Columbia Banking System, Inc. has a 12-month low of $22.77 and a 12-month high of $33.67. The firm has a 50-day moving average price of $31.16 and a 200 day moving average price of $29.77.

Columbia Banking System (NASDAQ:COLB) last released 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 $680.00 million for the quarter, compared to the consensus estimate of $687.40 million. During the same period in the previous year, the business earned $0.76 earnings per share. On average, research analysts expect that Columbia Banking System, Inc. will post 3.03 EPS for the current year.

Columbia Banking System Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.48 annualized dividend and a yield of 4.7%. Columbia Banking System’s payout ratio is currently 58.96%.

Analysts Set New Price Targets

COLB has been the subject of several research reports. Barclays increased their target price on shares of Columbia Banking System from $29.00 to $31.00 and gave the company an “equal weight” rating in a research note on Friday, July 24th. Fundamental Research set a $35.00 price target on Columbia Banking System in a report on Wednesday, July 1st. Keefe, Bruyette & Woods raised their price objective on Columbia Banking System from $34.00 to $35.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. UBS Group assumed coverage on Columbia Banking System in a report on Tuesday, April 7th. They set a “neutral” rating and a $30.00 price objective on the stock. Finally, Wells Fargo & Company boosted their price objective on Columbia Banking System from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $33.27.

Columbia Banking System Profile

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.