Ariadne Wealth Management LP Invests $252,000 in Columbia Banking System, Inc. (NASDAQ:COLB)

Ariadne Wealth Management LP acquired a new stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) in the second quarter, HoldingsChannel reports. The firm acquired 12,666 shares of the financial services provider’s stock, valued at approximately $252,000.

Several other hedge funds have also modified their holdings of COLB. Picton Mahoney Asset Management bought a new position in shares of Columbia Banking System during the second quarter valued at approximately $33,000. Abich Financial Wealth Management LLC raised its stake in Columbia Banking System by 85.1% in the 1st quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 1,020 shares during the last quarter. GAMMA Investing LLC boosted its position in Columbia Banking System by 144.0% in the second quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider’s stock valued at $47,000 after buying an additional 1,387 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Columbia Banking System by 111.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 1,380 shares during the period. Finally, Hexagon Capital Partners LLC grew its position in Columbia Banking System by 137,166.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 4,118 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 4,115 shares during the period. 92.53% of the stock is owned by hedge funds and other institutional investors.

Columbia Banking System Trading Up 0.6 %

NASDAQ COLB opened at $26.11 on Tuesday. The company has a market cap of $5.47 billion, a PE ratio of 11.21 and a beta of 0.64. The stock’s 50-day moving average price is $24.56 and its two-hundred day moving average price is $21.19. Columbia Banking System, Inc. has a 1 year low of $17.08 and a 1 year high of $28.11.

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

Columbia Banking System Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 23rd were given a $0.36 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.44 annualized dividend and a yield of 5.52%. Columbia Banking System’s dividend payout ratio is 61.80%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on COLB. Barclays increased their target price on shares of Columbia Banking System from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday. StockNews.com raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Wednesday, September 25th. Wedbush raised shares of Columbia Banking System from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $28.00 to $31.00 in a report on Tuesday, September 24th. Wells Fargo & Company raised their target price on Columbia Banking System from $22.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Columbia Banking System from $22.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $25.50.

Columbia Banking System 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.