Vaughan Nelson Investment Management L.P. Takes $33.81 Million Position in Columbia Banking System, Inc. $COLB

Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,232,470 shares of the financial services provider’s stock, valued at approximately $33,807,000. Vaughan Nelson Investment Management L.P. owned approximately 0.43% of Columbia Banking System at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in COLB. TD Waterhouse Canada Inc. increased its stake in Columbia Banking System by 6.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 5,949 shares of the financial services provider’s stock valued at $166,000 after purchasing an additional 348 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of Columbia Banking System by 1.2% in the 4th quarter. Quadrant Capital Group LLC now owns 38,350 shares of the financial services provider’s stock worth $1,072,000 after buying an additional 444 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its position in shares of Columbia Banking System by 0.4% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 122,428 shares of the financial services provider’s stock worth $3,422,000 after buying an additional 456 shares during the last quarter. Sittner & Nelson LLC boosted its holdings in shares of Columbia Banking System by 1.2% in the 3rd quarter. Sittner & Nelson LLC now owns 37,519 shares of the financial services provider’s stock valued at $966,000 after buying an additional 460 shares during the period. Finally, Laurion Capital Management LP boosted its holdings in shares of Columbia Banking System by 0.7% in the 4th quarter. Laurion Capital Management LP now owns 75,210 shares of the financial services provider’s stock valued at $2,102,000 after buying an additional 500 shares during the period. 92.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Piper Sandler increased their price objective on shares of Columbia Banking System from $34.00 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. UBS Group began coverage on Columbia Banking System in a research note on Tuesday, April 7th. They issued a “neutral” rating and a $30.00 target price for the company. Weiss Ratings raised Columbia Banking System from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, April 1st. Wells Fargo & Company increased their price target on Columbia Banking System from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Monday, March 30th. Finally, Citigroup raised their price target on Columbia Banking System from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $32.12.

Insiders Place Their Bets

In other Columbia Banking System news, CMO Devine David Moore sold 3,872 shares of Columbia Banking System stock in a transaction on Monday, June 8th. The stock was sold at an average price of $29.77, for a total transaction of $115,269.44. Following the sale, the chief marketing officer owned 18,636 shares of the company’s stock, valued at $554,793.72. The trade was a 17.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.57% of the stock is owned by insiders.

Columbia Banking System Stock Up 1.0%

Columbia Banking System stock opened at $30.87 on Tuesday. The firm has a 50-day moving average price of $29.64 and a two-hundred day moving average price of $29.10. The firm has a market capitalization of $8.94 billion, a price-to-earnings ratio of 12.30 and a beta of 0.63. Columbia Banking System, Inc. has a 52-week low of $22.14 and a 52-week high of $32.70.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. The firm had revenue of $675.00 million during the quarter, compared to analysts’ expectations of $677.34 million. Columbia Banking System had a net margin of 19.28% and a return on equity of 11.41%. Columbia Banking System’s quarterly revenue was up 37.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.67 EPS. Research analysts expect that Columbia Banking System, Inc. will post 3.08 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.8%. The ex-dividend date was Friday, May 29th. Columbia Banking System’s dividend payout ratio (DPR) is currently 58.96%.

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.