Hussman Strategic Advisors Inc. Takes Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Hussman Strategic Advisors Inc. purchased a new stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 105,000 shares of the financial services provider’s stock, valued at approximately $2,619,000.

A number of other institutional investors have also recently made changes to their positions in COLB. Aster Capital Management DIFC Ltd purchased a new stake in Columbia Banking System during the 4th quarter worth about $29,000. UMB Bank n.a. lifted its holdings in Columbia Banking System by 141.3% during the 1st quarter. UMB Bank n.a. now owns 1,636 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 958 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Columbia Banking System during the 4th quarter worth about $42,000. Kapitalo Investimentos Ltda purchased a new stake in Columbia Banking System during the 4th quarter worth about $42,000. Finally, Reyes Financial Architecture Inc. purchased a new stake in Columbia Banking System during the 1st quarter worth about $118,000. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Columbia Banking System Stock Performance

COLB traded down $0.01 on Friday, hitting $24.34. 175,894 shares of the company were exchanged, compared to its average volume of 1,811,136. The firm has a fifty day simple moving average of $23.95 and a two-hundred day simple moving average of $24.87. Columbia Banking System, Inc. has a 12 month low of $19.61 and a 12 month high of $32.85. The stock has a market capitalization of $5.12 billion, a PE ratio of 10.30 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.04. Columbia Banking System had a return on equity of 11.12% and a net margin of 16.85%. The business had revenue of $481.92 million for the quarter, compared to analyst estimates of $482.86 million. During the same period last year, the company earned $0.65 EPS. Columbia Banking System’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities analysts expect that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.44 annualized dividend and a yield of 5.92%. Columbia Banking System’s payout ratio is 61.02%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on COLB shares. Barclays dropped their price objective on Columbia Banking System from $32.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 8th. Piper Sandler dropped their price objective on Columbia Banking System from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. JPMorgan Chase & Co. dropped their price objective on Columbia Banking System from $26.50 to $24.00 and set a “neutral” rating on the stock in a report on Tuesday, July 1st. Jefferies Financial Group started coverage on Columbia Banking System in a research note on Wednesday, May 21st. They issued a “hold” rating and a $27.00 target price on the stock. Finally, Keefe, Bruyette & Woods decreased their target price on Columbia Banking System from $33.00 to $30.00 and set a “market perform” rating on the stock in a research note on Thursday, April 24th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Columbia Banking System has an average rating of “Hold” and a consensus price target of $28.79.

Columbia Banking System Company 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.