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

SG Americas Securities LLC lowered its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLBGet Rating) by 31.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,432 shares of the financial services provider’s stock after selling 6,303 shares during the period. SG Americas Securities LLC’s holdings in Columbia Banking System were worth $433,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of COLB. FourThought Financial LLC lifted its stake in shares of Columbia Banking System by 29.6% in the first quarter. FourThought Financial LLC now owns 3,671 shares of the financial services provider’s stock worth $118,000 after buying an additional 839 shares in the last quarter. Encompass Wealth Advisors LLC lifted its stake in shares of Columbia Banking System by 28.4% in the first quarter. Encompass Wealth Advisors LLC now owns 9,010 shares of the financial services provider’s stock worth $291,000 after buying an additional 1,991 shares in the last quarter. Boston Trust Walden Corp lifted its position in Columbia Banking System by 4.0% during the first quarter. Boston Trust Walden Corp now owns 603,066 shares of the financial services provider’s stock valued at $19,461,000 after purchasing an additional 23,363 shares during the period. Carolina Wealth Advisors LLC lifted its position in Columbia Banking System by 2.0% during the first quarter. Carolina Wealth Advisors LLC now owns 78,855 shares of the financial services provider’s stock valued at $2,545,000 after purchasing an additional 1,516 shares during the period. Finally, Nordea Investment Management AB bought a new position in Columbia Banking System during the first quarter valued at approximately $5,355,000. Institutional investors own 94.44% of the company’s stock.

Columbia Banking System Trading Up 2.1 %

Shares of COLB stock opened at $30.15 on Friday. Columbia Banking System, Inc. has a 12 month low of $26.97 and a 12 month high of $40.78. The stock has a market cap of $2.37 billion, a P/E ratio of 10.85 and a beta of 0.67. The company has a 50 day simple moving average of $29.29 and a two-hundred day simple moving average of $31.52.

Columbia Banking System (NASDAQ:COLBGet Rating) last announced its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the firm earned $0.77 earnings per share. As a group, equities analysts forecast that Columbia Banking System, Inc. will post 2.72 earnings per share for the current year.

Columbia Banking System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 17th. Stockholders of record on Wednesday, August 3rd will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, August 2nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.98%. Columbia Banking System’s dividend payout ratio (DPR) is presently 43.17%.

Analyst Upgrades and Downgrades

COLB has been the topic of a number of research analyst reports. Raymond James lowered their price objective on shares of Columbia Banking System from $38.00 to $34.00 and set an “outperform” rating on the stock in a research report on Thursday, July 7th. Royal Bank of Canada increased their price objective on shares of Columbia Banking System from $35.00 to $36.00 and gave the company a “sector perform” rating in a research report on Friday, April 22nd. Finally, Piper Sandler lowered their price objective on shares of Columbia Banking System from $35.00 to $31.00 in a research report on Monday, May 2nd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Columbia Banking System currently has an average rating of “Hold” and an average target price of $34.80.

Insider Transactions at Columbia Banking System

In other news, Director Craig D. Eerkes acquired 1,694 shares of Columbia Banking System stock in a transaction dated Friday, June 10th. The stock was purchased at an average cost of $28.52 per share, with a total value of $48,312.88. Following the completion of the purchase, the director now directly owns 20,227 shares in the company, valued at approximately $576,874.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders bought a total of 2,713 shares of company stock valued at $74,593 over the last three months. Corporate insiders own 0.62% of the company’s stock.

Columbia Banking System Company Profile

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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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