California State Teachers Retirement System Sells 9,552 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

California State Teachers Retirement System decreased its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLBFree Report) by 4.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 221,084 shares of the financial services provider’s stock after selling 9,552 shares during the period. California State Teachers Retirement System’s holdings in Columbia Banking System were worth $5,899,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Pacific Financial bought a new position in Columbia Banking System during the 4th quarter valued at approximately $40,000. Headlands Technologies LLC bought a new position in Columbia Banking System during the 4th quarter valued at approximately $42,000. GAMMA Investing LLC bought a new position in shares of Columbia Banking System in the 4th quarter worth approximately $48,000. Cerity Partners LLC bought a new position in shares of Columbia Banking System in the 4th quarter worth approximately $59,000. Finally, Quadrant Capital Group LLC raised its position in shares of Columbia Banking System by 17.8% in the 4th quarter. Quadrant Capital Group LLC now owns 3,932 shares of the financial services provider’s stock worth $105,000 after acquiring an additional 595 shares in the last quarter. Institutional investors own 92.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on COLB shares. Piper Sandler reissued an “overweight” rating and issued a $27.00 target price on shares of Columbia Banking System in a research report on Wednesday, June 5th. DA Davidson decreased their target price on Columbia Banking System from $25.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, March 13th. Barclays increased their target price on Columbia Banking System from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Wells Fargo & Company decreased their target price on Columbia Banking System from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. decreased their target price on Columbia Banking System from $23.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, April 4th. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $22.04.

Check Out Our Latest Report on COLB

Columbia Banking System Price Performance

COLB stock opened at $18.76 on Tuesday. The company has a market cap of $3.93 billion, a P/E ratio of 8.05 and a beta of 0.67. Columbia Banking System, Inc. has a 1 year low of $17.08 and a 1 year high of $28.11. The stock’s fifty day moving average price is $19.07 and its 200-day moving average price is $20.93.

Columbia Banking System (NASDAQ:COLBGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.12. Columbia Banking System had a return on equity of 11.58% and a net margin of 16.52%. The firm had revenue of $473.72 million for the quarter, compared to the consensus estimate of $480.39 million. During the same period last year, the business posted $0.46 EPS. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, analysts expect that Columbia Banking System, Inc. will post 2.44 earnings per share for the current year.

Columbia Banking System Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 24th were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.44 dividend on an annualized basis and a yield of 7.68%. Columbia Banking System’s dividend payout ratio is currently 61.80%.

About Columbia Banking System

(Free Report)

Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.

See Also

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

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