Point72 DIFC Ltd Buys Shares of 35,372 Columbia Banking System, Inc. (NASDAQ:COLB)

Point72 DIFC Ltd purchased a new position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,372 shares of the financial services provider’s stock, valued at approximately $924,000.

A number of other institutional investors and hedge funds have also bought and sold shares of COLB. Dimensional Fund Advisors LP lifted its holdings in Columbia Banking System by 812.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,182,655 shares of the financial services provider’s stock worth $63,295,000 after buying an additional 2,833,744 shares during the period. Basswood Capital Management L.L.C. acquired a new stake in shares of Columbia Banking System in the 3rd quarter valued at about $26,593,000. Holocene Advisors LP increased its position in Columbia Banking System by 1,001.8% in the 3rd quarter. Holocene Advisors LP now owns 962,330 shares of the financial services provider’s stock valued at $25,126,000 after buying an additional 874,986 shares in the last quarter. Janus Henderson Group PLC raised its stake in Columbia Banking System by 33.1% during the 3rd quarter. Janus Henderson Group PLC now owns 2,263,432 shares of the financial services provider’s stock worth $59,099,000 after buying an additional 562,467 shares during the period. Finally, LSV Asset Management boosted its holdings in Columbia Banking System by 333.8% in the second quarter. LSV Asset Management now owns 639,042 shares of the financial services provider’s stock worth $12,711,000 after acquiring an additional 491,742 shares in the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on COLB. Wells Fargo & Company upped their target price on Columbia Banking System from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Wedbush upped their price objective on shares of Columbia Banking System from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. JPMorgan Chase & Co. reduced their price objective on shares of Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Truist Financial upped their target price on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, October 28th. Finally, Keefe, Bruyette & Woods lifted their price target on Columbia Banking System from $30.00 to $34.00 and gave the company a “market perform” rating in a research note on Wednesday. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $28.19.

Columbia Banking System Trading Down 0.2 %

Shares of COLB opened at $30.15 on Friday. The stock has a 50 day moving average of $28.77 and a 200 day moving average of $24.46. The company has a market capitalization of $6.32 billion, a price-to-earnings ratio of 13.05 and a beta of 0.64. Columbia Banking System, Inc. has a 12 month low of $17.08 and a 12 month high of $32.85.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.07. The firm had revenue of $765.06 million during the quarter, compared to analyst estimates of $478.80 million. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. During the same period last year, the firm posted $0.79 EPS. As a group, equities research analysts predict that Columbia Banking System, Inc. will post 2.63 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date is Friday, November 29th. Columbia Banking System’s payout ratio is 62.34%.

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.