Quadrant Capital Group LLC Purchases 2,503 Shares of Columbia Banking System, Inc. $COLB

Quadrant Capital Group LLC lifted its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 7.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,440 shares of the financial services provider’s stock after purchasing an additional 2,503 shares during the period. Quadrant Capital Group LLC’s holdings in Columbia Banking System were worth $875,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Geneos Wealth Management Inc. raised its stake in Columbia Banking System by 194.6% in the first quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock valued at $30,000 after buying an additional 794 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Columbia Banking System during the first quarter worth approximately $37,000. Bessemer Group Inc. grew its position in Columbia Banking System by 53.5% during the second quarter. Bessemer Group Inc. now owns 1,790 shares of the financial services provider’s stock worth $42,000 after buying an additional 624 shares in the last quarter. UMB Bank n.a. raised its holdings in Columbia Banking System by 38.1% in the 2nd quarter. UMB Bank n.a. now owns 2,259 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 623 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in Columbia Banking System by 51.3% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 2,270 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 770 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. TD Cowen initiated coverage on Columbia Banking System in a report on Thursday, September 25th. They set a “hold” rating and a $28.00 target price on the stock. Royal Bank Of Canada upped their price objective on shares of Columbia Banking System from $27.00 to $28.00 and gave the stock a “sector perform” rating in a research report on Friday, October 10th. Barclays reduced their price objective on shares of Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Zacks Research cut shares of Columbia Banking System from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Finally, JPMorgan Chase & Co. increased their price target on shares of Columbia Banking System from $28.00 to $31.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, Columbia Banking System has a consensus rating of “Hold” and an average target price of $29.38.

Columbia Banking System Trading Down 2.0%

COLB stock opened at $27.79 on Monday. The firm has a 50-day moving average price of $26.29 and a 200-day moving average price of $25.24. Columbia Banking System, Inc. has a 12 month low of $19.61 and a 12 month high of $31.61. The stock has a market capitalization of $8.31 billion, a P/E ratio of 11.03 and a beta of 0.67.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Monday, March 4th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter. The business had revenue of $348.47 million during the quarter. Columbia Banking System had a net margin of 17.98% and a return on equity of 11.31%. As a group, equities analysts predict that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 5.3%. This is a boost from Columbia Banking System’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, November 28th. Columbia Banking System’s dividend payout ratio (DPR) is currently 66.67%.

Columbia Banking System Company 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.