Interval Partners LP Raises Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

Interval Partners LP grew its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 142.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 229,007 shares of the financial services provider’s stock after purchasing an additional 134,472 shares during the period. Interval Partners LP owned about 0.11% of Columbia Banking System worth $4,555,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. BNP Paribas Financial Markets boosted its position in Columbia Banking System by 7.3% in the fourth quarter. BNP Paribas Financial Markets now owns 60,950 shares of the financial services provider’s stock worth $1,626,000 after purchasing an additional 4,137 shares during the last quarter. Norges Bank bought a new position in Columbia Banking System in the fourth quarter worth approximately $63,152,000. Corient Private Wealth LLC purchased a new position in shares of Columbia Banking System during the 4th quarter worth $963,000. Orion Portfolio Solutions LLC grew its position in shares of Columbia Banking System by 10.6% during the 4th quarter. Orion Portfolio Solutions LLC now owns 33,490 shares of the financial services provider’s stock valued at $875,000 after acquiring an additional 3,211 shares during the period. Finally, United Services Automobile Association increased its stake in shares of Columbia Banking System by 11.3% in the 4th quarter. United Services Automobile Association now owns 17,093 shares of the financial services provider’s stock worth $456,000 after purchasing an additional 1,734 shares in the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Columbia Banking System Stock Down 0.2 %

Shares of NASDAQ:COLB opened at $25.74 on Tuesday. The business has a 50-day moving average price of $24.31 and a 200-day moving average price of $20.95. The stock has a market cap of $5.39 billion, a price-to-earnings ratio of 11.05 and a beta of 0.64. Columbia Banking System, Inc. has a 52-week low of $17.08 and a 52-week high of $28.11.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10. The firm had revenue of $472.15 million during the quarter, compared to the consensus estimate of $476.01 million. Columbia Banking System had a net margin of 15.94% and a return on equity of 10.89%. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 EPS. As a group, equities analysts anticipate that Columbia Banking System, Inc. will post 2.55 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 23rd were given a $0.36 dividend. The ex-dividend date was Friday, August 23rd. This represents a $1.44 annualized dividend and a dividend yield of 5.59%. Columbia Banking System’s dividend payout ratio (DPR) is presently 61.80%.

Analysts Set New Price Targets

COLB has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on Columbia Banking System from $22.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods upped their target price on shares of Columbia Banking System from $23.00 to $27.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Royal Bank of Canada lifted their price target on shares of Columbia Banking System from $21.00 to $26.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Wedbush increased their price objective on shares of Columbia Banking System from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, Stephens lifted their target price on Columbia Banking System from $22.00 to $26.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Columbia Banking System presently has an average rating of “Hold” and an average price target of $24.96.

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.