Qube Research & Technologies Ltd Acquires New Stakes in Columbia Banking System, Inc. (NASDAQ:COLB)

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Qube Research & Technologies Ltd has acquired a new stake in Columbia Banking System, Inc. (NASDAQ:COLBGet a rating) in Q1, according to its most recent filing with the Securities & Exchange Commission. The fund bought 98,747 shares of the financial services provider, valued at around $3,187,000. Qube Research & Technologies Ltd held 0.13% of Columbia Banking System at the end of the last quarter.

Other institutional investors also changed their positions in the company. Profund Advisors LLC increased its stake in Columbia Banking System by 6.5% during the fourth quarter. Profund Advisors LLC now owns 8,703 shares of the financial services provider worth $285,000 after buying 529 additional shares in the last quarter. Mutual of America Capital Management LLC increased its stake in Columbia Banking System by 5.5% during the first quarter. Mutual of America Capital Management LLC now owns 11,201 shares of the financial services provider worth $361,000 after buying an additional 580 shares in the last quarter. The Oregon Public Employees Retirement Fund increased its stake in Columbia Banking System by 2.1% during the fourth quarter. The Oregon Public Employees Retirement Fund now owns 29,798 shares of the financial services provider worth $975,000 after buying 626 additional shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Columbia Banking System by 9.0% in the 4th quarter. CIBC Asset Management Inc. now owns 8,825 shares of the financial services provider valued at $289,000 after acquiring an additional 729 shares in the last quarter. Finally, FourThought Financial LLC increased its stake in shares of Columbia Banking System by 29.6% in the 1st quarter. FourThought Financial LLC now owns 3,671 shares of the financial services provider valued at $118,000 after acquiring 839 additional shares in the last quarter. 94.44% of the shares are currently held by institutional investors.

Insiders place their bets

In other news, Director Craig D. Eerkes bought 1,694 shares of the company in a trade on Friday, June 10. The shares were purchased at an average price of $28.52 per share, with a total value of $48,312.88. As a result of the transaction, the administrator now directly owns 20,227 shares of the company, valued at $576,874.04. The purchase was disclosed in a filing with the SEC, accessible via this link. Over the past ninety days, insiders have purchased 2,713 shares of the company worth $74,593. Insiders of the company hold 0.62% of the shares of the company.

Columbia Banking System stock up 2.0%

NASDAQ COLB opened at $31.65 on Friday. The company has a market capitalization of $2.49 billion, a price-earnings ratio of 11.38 and a beta of 0.67. Columbia Banking System, Inc. has a 12-month low of $26.97 and a 12-month high of $40.78. The stock has a fifty-day simple moving average of $29.35 and a 200-day simple moving average of $31.40.

Colombian banking system (NASDAQ:COLBGet a rating) last released its quarterly results on Thursday, July 21. The financial services provider reported earnings per share of $0.75 for the quarter, missing analyst consensus estimates of $0.77 per ($0.02). Columbia Banking System had a return on equity of 9.68% and a net margin of 31.28%. During the same period last year, the company achieved EPS of $0.77. Research analysts expect Columbia Banking System, Inc. to post earnings per share of 2.71 for the current fiscal year.

Columbia Banking System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 17. Shareholders of record on Wednesday, August 3 will receive a dividend of $0.30 per share. The ex-dividend date is Tuesday, August 2. This represents a dividend of $1.20 on an annualized basis and a yield of 3.79%. Columbia Banking System’s payout ratio is currently 43.17%.

Wall Street analysts predict growth

A number of research analysts have recently commented on the company. Royal Bank of Canada raised its price target on Columbia Banking System from $35.00 to $36.00 and gave the company an “industry performance” rating in a Friday, April 22 research note. Piper Sandler lowered her price target on Columbia Banking System from $35.00 to $31.00 in a Monday, May 2 research note. Finally, Raymond James lowered his price target on Columbia Banking System from $38.00 to $34.00 and set an “outperform” rating for the company in a Thursday, July 7 research note. Four analysts gave the stock a hold rating and two gave the company a buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $34.80.

Columbia Banking System Company Profile

(Get a rating)

Columbia Banking System, Inc operates as a bank holding company for Columbia State Bank which provides a range of banking services to small and medium-sized businesses, professionals and individuals in the United States. It offers personal banking products and services, including interest-free and interest-bearing checks, savings accounts, money market and certificates of deposit; home mortgages for purchases and refinances, home equity loans and lines of credit and other personal loans; debit and credit cards; and digital banking.

Further reading

Want to see which other hedge funds hold COLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Columbia Banking System, Inc. (NASDAQ:COLBGet a rating).

Institutional ownership by quarter for Columbia Banking System (NASDAQ:COLB)



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