SG Americas Securities LLC Sells 6,303 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

SG Americas Securities LLC lowered its position in Columbia Banking System, Inc. (NASDAQ:COLBGet Rating) by 31.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,432 shares of the financial services provider’s stock after selling 6,303 shares during the quarter. SG Americas Securities LLC’s holdings in Columbia Banking System were worth $433,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Columbia Banking System in the 4th quarter worth approximately $811,000. Commonwealth Equity Services LLC raised its holdings in shares of Columbia Banking System by 24.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 23,737 shares of the financial services provider’s stock worth $776,000 after buying an additional 4,628 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new position in shares of Columbia Banking System in the 4th quarter worth approximately $2,700,000. Yousif Capital Management LLC acquired a new position in shares of Columbia Banking System in the 4th quarter worth approximately $2,365,000. Finally, D.A. Davidson & CO. acquired a new stake in Columbia Banking System during the 4th quarter valued at $634,000. Institutional investors own 94.44% of the company’s stock.

Analysts Set New Price Targets

COLB has been the subject of a number of recent analyst reports. Royal Bank of Canada raised their price target on Columbia Banking System from $35.00 to $36.00 and gave the company a “sector perform” rating in a report on Friday, April 22nd. Piper Sandler dropped their price target on Columbia Banking System from $35.00 to $31.00 in a report on Monday, May 2nd. Finally, Raymond James dropped their price target on Columbia Banking System from $38.00 to $34.00 and set an “outperform” rating for the company in a report on Thursday, July 7th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $34.80.

Columbia Banking System Stock Performance

NASDAQ COLB opened at $30.15 on Friday. The stock has a fifty day moving average of $29.29 and a 200-day moving average of $31.52. The stock has a market capitalization of $2.37 billion, a P/E ratio of 10.85 and a beta of 0.67. Columbia Banking System, Inc. has a 52 week low of $26.97 and a 52 week high of $40.78.

Columbia Banking System (NASDAQ:COLBGet Rating) last posted its quarterly earnings results on Thursday, July 21st. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.02). Columbia Banking System had a return on equity of 9.68% and a net margin of 31.28%. During the same period in the prior year, the business earned $0.77 earnings per share. Equities research analysts forecast that Columbia Banking System, Inc. will post 2.72 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 17th. Shareholders of record on Wednesday, August 3rd will be issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, August 2nd. This represents a $1.20 annualized dividend and a yield of 3.98%. Columbia Banking System’s dividend payout ratio is presently 43.17%.

Insiders Place Their Bets

In other news, Director Craig D. Eerkes purchased 1,694 shares of the business’s stock in a transaction dated Friday, June 10th. The shares were bought at an average cost of $28.52 per share, for a total transaction of $48,312.88. Following the completion of the acquisition, the director now directly owns 20,227 shares in the company, valued at approximately $576,874.04. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have acquired 2,713 shares of company stock worth $74,593. Corporate insiders own 0.62% of the company’s stock.

Columbia Banking System Profile

(Get Rating)

Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in the United States. It offers personal banking products and services, including noninterest and interest-bearing checking, savings, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and other personal loans; debit and credit cards; and digital banking services.

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Institutional Ownership by Quarter for Columbia Banking System (NASDAQ:COLB)

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