Vista Investment Management Buys Shares of 21,767 Columbia Banking System, Inc. $COLB

Vista Investment Management bought a new position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 21,767 shares of the financial services provider’s stock, valued at approximately $698,000.

A number of other institutional investors have also made changes to their positions in the stock. Commerce Bank purchased a new stake in shares of Columbia Banking System in the 2nd quarter valued at approximately $691,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Columbia Banking System in the 2nd quarter worth approximately $31,000. Quantbot Technologies LP purchased a new position in shares of Columbia Banking System during the 2nd quarter worth approximately $190,000. Evolve Private Wealth LLC purchased a new position in shares of Columbia Banking System during the 2nd quarter worth approximately $854,000. Finally, De Lisle Partners LLP acquired a new stake in Columbia Banking System in the 2nd quarter valued at approximately $328,000. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COLB has been the topic of a number of research analyst reports. Zacks Research lowered Columbia Banking System from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. Royal Bank Of Canada raised their price target on Columbia Banking System from $34.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Friday, July 24th. JPMorgan Chase & Co. lifted their price objective on Columbia Banking System from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Wednesday, July 1st. Stephens boosted their price objective on Columbia Banking System from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Friday, July 24th. Finally, Wells Fargo & Company increased their target price on Columbia Banking System from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $33.35.

Columbia Banking System Stock Down 0.1%

Shares of NASDAQ:COLB opened at $30.81 on Friday. The firm’s 50 day moving average price is $31.71 and its 200 day moving average price is $30.06. The stock has a market cap of $8.72 billion, a price-to-earnings ratio of 12.27, a price-to-earnings-growth ratio of 3.05 and a beta of 0.63. Columbia Banking System, Inc. has a fifty-two week low of $23.83 and a fifty-two week high of $33.67.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. Columbia Banking System had a net margin of 19.96% and a return on equity of 11.33%. The company had revenue of $677.00 million during the quarter, compared to the consensus estimate of $687.40 million. During the same quarter in the previous year, the firm earned $0.76 earnings per share. On average, equities analysts anticipate that Columbia Banking System, Inc. will post 3.03 EPS for the current year.

Columbia Banking System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, August 28th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Friday, August 28th. Columbia Banking System’s payout ratio is 58.96%.

Insider Activity

In other news, CMO Devine David Moore sold 3,872 shares of Columbia Banking System stock in a transaction on Monday, June 8th. The shares were sold at an average price of $29.77, for a total transaction of $115,269.44. Following the completion of the sale, the chief marketing officer directly owned 18,636 shares of the company’s stock, valued at approximately $554,793.72. The trade was a 17.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.57% of the company’s stock.

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.