Columbia Banking System, Inc. (NASDAQ:COLB) Shares Purchased by Signaturefd LLC

Signaturefd LLC increased its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 14.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,767 shares of the financial services provider’s stock after acquiring an additional 709 shares during the period. Signaturefd LLC’s holdings in Columbia Banking System were worth $151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its stake in Columbia Banking System by 13.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 37,681 shares of the financial services provider’s stock valued at $729,000 after acquiring an additional 4,551 shares during the period. State of Michigan Retirement System lifted its position in Columbia Banking System by 2.4% during the first quarter. State of Michigan Retirement System now owns 51,241 shares of the financial services provider’s stock valued at $992,000 after purchasing an additional 1,200 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Columbia Banking System by 9.2% in the first quarter. Commonwealth Equity Services LLC now owns 57,745 shares of the financial services provider’s stock valued at $1,117,000 after purchasing an additional 4,856 shares during the last quarter. Retirement Systems of Alabama grew its position in Columbia Banking System by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 261,930 shares of the financial services provider’s stock worth $5,068,000 after purchasing an additional 700 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Columbia Banking System by 71.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,101 shares of the financial services provider’s stock valued at $1,434,000 after buying an additional 30,892 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on COLB. StockNews.com upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. Truist Financial lowered their price objective on Columbia Banking System from $29.00 to $28.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. JPMorgan Chase & Co. decreased their target price on shares of Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Raymond James raised their price target on shares of Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Barclays upped their price objective on shares of Columbia Banking System from $25.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Friday. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Columbia Banking System presently has a consensus rating of “Hold” and a consensus target price of $26.96.

Columbia Banking System Trading Down 1.3 %

NASDAQ:COLB opened at $27.90 on Monday. The stock has a 50 day moving average of $25.49 and a two-hundred day moving average of $22.26. Columbia Banking System, Inc. has a 12 month low of $17.08 and a 12 month high of $28.62. The firm has a market cap of $5.84 billion, a P/E ratio of 11.97 and a beta of 0.64.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.62 by $0.07. The firm had revenue of $765.06 million during the quarter, compared to analysts’ expectations of $478.80 million. Columbia Banking System had a return on equity of 10.89% and a net margin of 15.94%. During the same period in the previous year, the business earned $0.79 earnings per share. On average, research analysts forecast that Columbia Banking System, Inc. will post 2.55 earnings per share for the current year.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 23rd were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.16%. The ex-dividend date of this dividend was Friday, August 23rd. Columbia Banking System’s dividend payout ratio is currently 61.80%.

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.