Columbia Banking System, Inc. (NASDAQ:COLB) Stock Position Decreased by Raymond James & Associates

Raymond James & Associates decreased its position in Columbia Banking System, Inc. (NASDAQ:COLB – Get Rating) by 4.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 188,002 shares of the financial services provider’s stock after selling 8,840 shares during the quarter. Raymond James & Associates’ holdings in Columbia Banking System were worth $5,664,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in COLB. IFP Advisors Inc raised its holdings in Columbia Banking System by 203.2% during the fourth quarter. IFP Advisors Inc now owns 473 shares of the financial services provider’s stock valued at $28,000 after buying an additional 317 shares in the last quarter. Covestor Ltd increased its holdings in shares of Columbia Banking System by 178.9% during the 1st quarter. Covestor Ltd now owns 2,421 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 1,553 shares during the last quarter. Systematic Financial Management LP bought a new position in shares of Columbia Banking System in the 3rd quarter valued at approximately $131,000. FourThought Financial LLC lifted its holdings in Columbia Banking System by 11.1% in the 3rd quarter. FourThought Financial LLC now owns 5,150 shares of the financial services provider’s stock worth $149,000 after purchasing an additional 514 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Columbia Banking System by 26.7% during the first quarter. PNC Financial Services Group Inc. now owns 5,310 shares of the financial services provider’s stock worth $171,000 after purchasing an additional 1,120 shares during the period.

Columbia Banking System Trading Down 2.9 %

Shares of NASDAQ COLB opened at $20.49 on Monday. Columbia Banking System, Inc. has a one year low of $17.54 and a one year high of $35.53. The business has a fifty day simple moving average of $20.87 and a 200 day simple moving average of $27.40. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of 8.65 and a beta of 0.67.

Columbia Banking System (NASDAQ:COLB – Get Rating) last announced its quarterly earnings data on Wednesday, April 26th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. Columbia Banking System had a net margin of 16.18% and a return on equity of 9.55%. The company had revenue of $429.43 million during the quarter, compared to analysts’ expectations of $441.99 million. During the same quarter in the prior year, the company posted $0.81 EPS. The business’s revenue was up 39.1% on a year-over-year basis. On average, research analysts anticipate that Columbia Banking System, Inc. will post 3.57 earnings per share for the current fiscal year.

Columbia Banking System Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 7.03%. This is an increase from Columbia Banking System’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, May 30th. Columbia Banking System’s payout ratio is presently 50.63%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on COLB shares. Keefe, Bruyette & Woods raised shares of Columbia Banking System from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $36.00 to $29.00 in a research report on Wednesday, April 5th. Piper Sandler cut their target price on shares of Columbia Banking System from $32.00 to $29.00 in a research report on Wednesday, May 3rd. Raymond James raised Columbia Banking System from an “outperform” rating to a “strong-buy” rating and lowered their price target for the company from $34.00 to $28.00 in a research report on Thursday, April 6th. StockNews.com started coverage on Columbia Banking System in a research report on Thursday. They set a “sell” rating for the company. Finally, Wedbush increased their target price on Columbia Banking System from $23.00 to $24.00 in a research note on Friday, April 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $28.44.

Columbia Banking System Company Profile

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Columbia Banking System, Inc is a bank holding company, which engages in the provision of financial services. It offers its services to small and medium-sized businesses, professionals, and individuals. It operates through the Washington, Oregon, Idaho, and California geographical segments. The company was founded in 1993 and is headquartered in Tacoma, WA.