Columbia Banking System, Inc. $COLB Stock Sold by Revolve Wealth Partners LLC

Revolve Wealth Partners LLC trimmed its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 68.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,406 shares of the financial services provider’s stock after selling 18,494 shares during the quarter. Revolve Wealth Partners LLC’s holdings in Columbia Banking System were worth $240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Columbia Banking System in the second quarter worth about $29,000. Cedar Mountain Advisors LLC grew its stake in shares of Columbia Banking System by 571.7% during the first quarter. Cedar Mountain Advisors LLC now owns 1,115 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 949 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Columbia Banking System during the second quarter worth about $31,000. Root Financial Partners LLC purchased a new position in shares of Columbia Banking System in the 3rd quarter valued at approximately $34,000. Finally, Elevation Wealth Partners LLC grew its stake in Columbia Banking System by 213.7% during the 3rd quarter. Elevation Wealth Partners LLC now owns 1,352 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 921 shares during the last quarter. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on COLB. Stephens increased their price objective on shares of Columbia Banking System from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Keefe, Bruyette & Woods raised their price objective on shares of Columbia Banking System from $34.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Barclays lifted their target price on shares of Columbia Banking System from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Monday, October 5th. Weiss Ratings upgraded shares of Columbia Banking System from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Finally, Zacks Research raised shares of Columbia Banking System from a “strong sell” rating to a “hold” rating in a report on Monday, August 31st. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Columbia Banking System presently has an average rating of “Hold” and an average target price of $33.38.

Columbia Banking System Trading Up 0.7%

NASDAQ COLB opened at $31.06 on Tuesday. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 10.75, a PEG ratio of 0.89 and a beta of 0.66. Columbia Banking System, Inc. has a twelve month low of $25.12 and a twelve month high of $33.67. The stock has a 50-day moving average of $29.68 and a 200 day moving average of $29.83.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. Columbia Banking System had a return on equity of 11.93% and a net margin of 22.83%. The company had revenue of $702.00 million for the quarter, compared to the consensus estimate of $687.74 million. During the same quarter in the prior year, the business posted $0.85 earnings per share. Columbia Banking System’s revenue for the quarter was up 19.4% on a year-over-year basis. Equities analysts predict that Columbia Banking System, Inc. will post 3.04 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Stockholders of record on Friday, August 28th were given a $0.37 dividend. The ex-dividend date was Friday, August 28th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.8%. Columbia Banking System’s payout ratio is 51.21%.

About Columbia Banking System

Columbia Banking System, Inc is a bank holding company headquartered in Tacoma, Washington. It operates through Umpqua Bank, a full-service financial institution serving consumers, businesses, professionals and institutions.

Umpqua Bank provides deposit accounts, residential and commercial lending, business banking, treasury and cash-management services, mortgage banking, personal banking and wealth-management solutions. Its offerings include checking and savings accounts, commercial real estate and business loans, consumer credit, online and mobile banking, and investment and advisory services.

Columbia Banking System traces its roots to the formation of Columbia State Bank in Washington in 1993.