Quad Cities Investment Group LLC Invests $357,000 in Columbia Banking System, Inc. (NASDAQ:COLB)

Quad Cities Investment Group LLC purchased a new position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,597 shares of the financial services provider’s stock, valued at approximately $357,000.

A number of other large investors also recently bought and sold shares of COLB. Lindbrook Capital LLC acquired a new position in shares of Columbia Banking System during the 1st quarter worth approximately $26,000. Fifth Third Bancorp boosted its position in shares of Columbia Banking System by 2,330.0% during the 1st quarter. Fifth Third Bancorp now owns 1,215 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 1,165 shares in the last quarter. Ellevest Inc. raised its stake in Columbia Banking System by 2,730.2% during the 1st quarter. Ellevest Inc. now owns 1,217 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 1,174 shares in the last quarter. Column Capital Advisors LLC purchased a new position in Columbia Banking System during the 1st quarter worth approximately $30,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in shares of Columbia Banking System during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 89.82% of the company’s stock.

Columbia Banking System Trading Down 0.9 %

COLB stock traded down $0.19 during mid-day trading on Monday, hitting $20.70. The stock had a trading volume of 285,426 shares, compared to its average volume of 2,180,366. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 9.16 and a beta of 0.67. The company has a fifty day moving average of $21.09 and a 200 day moving average of $21.40. Columbia Banking System, Inc. has a 1-year low of $17.54 and a 1-year high of $35.53.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.12). The business had revenue of $524.85 million during the quarter, compared to analyst estimates of $584.70 million. Columbia Banking System had a net margin of 15.40% and a return on equity of 10.85%. The company’s revenue for the quarter was up 72.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.79 earnings per share. As a group, sell-side analysts expect that Columbia Banking System, Inc. will post 3.07 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 25th were issued a $0.36 dividend. The ex-dividend date was Thursday, August 24th. This represents a $1.44 dividend on an annualized basis and a yield of 6.96%. Columbia Banking System’s dividend payout ratio is presently 63.72%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on COLB. Truist Financial dropped their price objective on shares of Columbia Banking System from $23.00 to $22.00 in a research note on Thursday, June 29th. UBS Group cut shares of Columbia Banking System from a “neutral” rating to a “sell” rating and cut their target price for the stock from $21.50 to $18.50 in a research report on Monday, July 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $26.00 price objective on shares of Columbia Banking System in a research note on Thursday, July 20th. StockNews.com initiated coverage on Columbia Banking System in a report on Thursday, August 17th. They issued a “sell” rating for the company. Finally, Wedbush reaffirmed a “neutral” rating and set a $24.00 price objective on shares of Columbia Banking System in a research note on Thursday, July 20th. Two analysts have rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $25.17.

Columbia Banking System Profile

Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides commercial and retail banking services. The company offers deposit products, including interest-bearing checking, savings, money market, and certificate of deposit accounts. It also provides home mortgages for purchases and refinances, home equity loans and lines of credit, and other personal loans; and agricultural loans, asset-based loans, builder and other commercial real estate loans, and loans guaranteed by the SBA, as well as offer a suite of business edge loans designed for small businesses to expand, purchase equipment, or in need of working capital.