Segall Bryant & Hamill LLC Cuts Position in Columbia Banking System, Inc. $COLB

Segall Bryant & Hamill LLC trimmed its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 14.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 832,016 shares of the financial services provider’s stock after selling 141,153 shares during the period. Segall Bryant & Hamill LLC’s holdings in Columbia Banking System were worth $22,822,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. BW Gestao de Investimentos Ltda. bought a new stake in shares of Columbia Banking System in the 4th quarter valued at about $9,782,000. Easterly Investment Partners LLC raised its stake in shares of Columbia Banking System by 10.6% during the 4th quarter. Easterly Investment Partners LLC now owns 713,206 shares of the financial services provider’s stock worth $19,934,000 after acquiring an additional 68,388 shares in the last quarter. TD Asset Management Inc raised its stake in shares of Columbia Banking System by 12.0% during the 4th quarter. TD Asset Management Inc now owns 461,928 shares of the financial services provider’s stock worth $12,911,000 after acquiring an additional 49,454 shares in the last quarter. Oak Thistle LLC purchased a new stake in Columbia Banking System during the fourth quarter valued at approximately $2,192,000. Finally, Pzena Investment Management LLC lifted its position in Columbia Banking System by 12.7% during the first quarter. Pzena Investment Management LLC now owns 2,033,219 shares of the financial services provider’s stock valued at $55,771,000 after acquiring an additional 228,825 shares during the last quarter. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Columbia Banking System

In related news, CMO Devine David Moore sold 3,872 shares of Columbia Banking System stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $29.77, for a total transaction of $115,269.44. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.57% of the stock is owned by company insiders.

Columbia Banking System Price Performance

Shares of COLB stock opened at $31.27 on Friday. The firm has a market capitalization of $9.05 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 3.10 and a beta of 0.62. The business has a fifty day moving average of $31.16 and a 200 day moving average of $29.77. Columbia Banking System, Inc. has a 1 year low of $22.77 and a 1 year high of $33.67.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. The company had revenue of $680.00 million during the quarter, compared to analysts’ expectations of $687.40 million. Columbia Banking System had a return on equity of 11.33% and a net margin of 19.96%.During the same quarter in the previous year, the firm posted $0.76 EPS. As a group, equities research analysts expect that Columbia Banking System, Inc. will post 3.03 earnings per share for the current year.

Columbia Banking System Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.7%. The ex-dividend date was Friday, May 29th. Columbia Banking System’s dividend payout ratio (DPR) is presently 58.96%.

Wall Street Analyst Weigh In

COLB has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Columbia Banking System from $34.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Piper Sandler upped their price target on Columbia Banking System from $34.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. UBS Group initiated coverage on Columbia Banking System in a report on Tuesday, April 7th. They set a “neutral” rating and a $30.00 price objective for the company. Wells Fargo & Company raised their price objective on Columbia Banking System from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. Finally, Wall Street Zen downgraded Columbia Banking System from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Columbia Banking System currently has an average rating of “Hold” and a consensus target price of $33.27.

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.