First Hawaiian Bank Purchases 8,935 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

First Hawaiian Bank boosted its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 44.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,997 shares of the financial services provider’s stock after acquiring an additional 8,935 shares during the period. First Hawaiian Bank’s holdings in Columbia Banking System were worth $561,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in COLB. CWM LLC grew its position in shares of Columbia Banking System by 20.9% in the 1st quarter. CWM LLC now owns 7,312 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 1,263 shares during the period. Moody National Bank Trust Division boosted its holdings in shares of Columbia Banking System by 44.4% in the first quarter. Moody National Bank Trust Division now owns 34,434 shares of the financial services provider’s stock valued at $666,000 after buying an additional 10,593 shares during the period. Hennessy Advisors Inc. acquired a new position in shares of Columbia Banking System in the fourth quarter valued at approximately $1,868,000. Vanguard Group Inc. increased its position in shares of Columbia Banking System by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 21,753,210 shares of the financial services provider’s stock worth $580,376,000 after acquiring an additional 123,120 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Columbia Banking System by 16.2% during the fourth quarter. Wellington Management Group LLP now owns 4,578,618 shares of the financial services provider’s stock worth $122,158,000 after acquiring an additional 637,212 shares during the period. 92.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on COLB. Piper Sandler reiterated an “overweight” rating and set a $27.00 target price on shares of Columbia Banking System in a report on Wednesday, June 5th. Wells Fargo & Company dropped their target price on Columbia Banking System from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 10th. Truist Financial cut their target price on Columbia Banking System from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Keefe, Bruyette & Woods decreased their price target on shares of Columbia Banking System from $25.00 to $23.00 and set a “market perform” rating for the company in a research note on Friday, April 5th. Finally, Barclays boosted their price objective on shares of Columbia Banking System from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Twelve equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $22.04.

Columbia Banking System Stock Performance

Shares of NASDAQ:COLB opened at $18.43 on Friday. Columbia Banking System, Inc. has a 52-week low of $17.08 and a 52-week high of $28.11. The company has a market capitalization of $3.86 billion, a P/E ratio of 7.91 and a beta of 0.67. The company has a 50-day simple moving average of $19.11 and a 200 day simple moving average of $20.69.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.12. The company had revenue of $473.72 million during the quarter, compared to analysts’ expectations of $480.39 million. Columbia Banking System had a return on equity of 11.58% and a net margin of 16.52%. The business’s revenue was up 10.3% on a year-over-year basis. During the same period last year, the firm posted $0.46 earnings per share. As a group, equities analysts forecast that Columbia Banking System, Inc. will post 2.44 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 24th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.44 dividend on an annualized basis and a yield of 7.81%. Columbia Banking System’s dividend payout ratio (DPR) is 61.80%.

About Columbia Banking System

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.