Siena Capital Partners GP LLC Invests $2.72 Million in Columbia Banking System, Inc. (NASDAQ:COLB)

Siena Capital Partners GP LLC acquired a new position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 134,302 shares of the financial services provider’s stock, valued at approximately $2,724,000. Siena Capital Partners GP LLC owned approximately 0.06% of Columbia Banking System at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. bought a new position in Columbia Banking System in the 4th quarter valued at about $32,000. Ellevest Inc. lifted its position in Columbia Banking System by 2,730.2% in the 1st quarter. Ellevest Inc. now owns 1,217 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 1,174 shares in the last quarter. Column Capital Advisors LLC bought a new position in Columbia Banking System in the 1st quarter valued at about $30,000. Nomura Asset Management Co. Ltd. lifted its position in Columbia Banking System by 152.2% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 1,589 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 959 shares in the last quarter. Finally, Covestor Ltd lifted its position in Columbia Banking System by 178.9% in 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 in the last quarter. Institutional investors own 89.82% of the company’s stock.

Columbia Banking System Trading Down 1.1 %

Shares of COLB stock traded down $0.24 during trading hours on Monday, hitting $22.54. 465,093 shares of the company were exchanged, compared to its average volume of 2,069,792. The firm has a fifty day simple moving average of $20.18 and a 200 day simple moving average of $20.77. Columbia Banking System, Inc. has a 52-week low of $17.54 and a 52-week high of $34.34. The stock has a market capitalization of $4.70 billion, a price-to-earnings ratio of 10.95 and a beta of 0.67.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.06. Columbia Banking System had a net margin of 14.80% and a return on equity of 11.55%. The company had revenue of $739.99 million during the quarter, compared to analyst estimates of $522.90 million. During the same quarter last year, the business posted $0.86 EPS. Sell-side analysts anticipate that Columbia Banking System, Inc. will post 2.96 EPS for the current year.

Columbia Banking System Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 24th will be paid a dividend of $0.36 per share. The ex-dividend date is Wednesday, November 22nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 6.39%. Columbia Banking System’s payout ratio is 69.23%.

Analyst Ratings Changes

Several brokerages recently weighed in on COLB. StockNews.com initiated coverage on shares of Columbia Banking System in a research report on Thursday, October 5th. They issued a “sell” rating on the stock. Truist Financial dropped their target price on shares of Columbia Banking System from $21.00 to $20.00 and set a “hold” rating on the stock in a research report on Monday, October 23rd. Royal Bank of Canada dropped their target price on shares of Columbia Banking System from $26.00 to $22.00 in a research report on Tuesday, October 10th. Raymond James dropped their target price on shares of Columbia Banking System from $27.00 to $25.00 and set a “strong-buy” rating on the stock in a research report on Thursday, October 19th. Finally, UBS Group raised shares of Columbia Banking System from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $18.00 to $21.00 in a research report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Columbia Banking System has an average rating of “Hold” and an average target price of $24.11.

About Columbia Banking System

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.