Columbia Banking System, Inc. $COLB Position Lessened by WBI Investments LLC

WBI Investments LLC decreased its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 17.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,695 shares of the financial services provider’s stock after selling 6,663 shares during the period. WBI Investments LLC’s holdings in Columbia Banking System were worth $766,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. State of Michigan Retirement System lifted its holdings in shares of Columbia Banking System by 1.0% in the 1st quarter. State of Michigan Retirement System now owns 50,141 shares of the financial services provider’s stock worth $1,251,000 after purchasing an additional 500 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Columbia Banking System by 0.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 58,700 shares of the financial services provider’s stock worth $1,464,000 after purchasing an additional 500 shares during the last quarter. Xponance Inc. lifted its holdings in shares of Columbia Banking System by 2.2% in the 1st quarter. Xponance Inc. now owns 24,313 shares of the financial services provider’s stock worth $606,000 after purchasing an additional 517 shares during the last quarter. Sippican Capital Advisors lifted its holdings in shares of Columbia Banking System by 0.5% in the 1st quarter. Sippican Capital Advisors now owns 108,027 shares of the financial services provider’s stock worth $2,694,000 after purchasing an additional 540 shares during the last quarter. Finally, Mengis Capital Management Inc. lifted its holdings in shares of Columbia Banking System by 1.2% in the 1st quarter. Mengis Capital Management Inc. now owns 49,982 shares of the financial services provider’s stock worth $1,247,000 after purchasing an additional 572 shares during the last quarter. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Stock Performance

Shares of COLB stock opened at $26.22 on Thursday. Columbia Banking System, Inc. has a 1 year low of $19.61 and a 1 year high of $32.85. The stock has a market cap of $5.51 billion, a PE ratio of 10.40 and a beta of 0.66. The business’s fifty day moving average is $25.27 and its 200-day moving average is $24.26.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.10. Columbia Banking System had a return on equity of 11.31% and a net margin of 17.98%.The company had revenue of $511.55 million for the quarter, compared to analysts’ expectations of $492.00 million. During the same period last year, the firm earned $0.67 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities research analysts predict that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date is Friday, August 29th. Columbia Banking System’s payout ratio is presently 57.14%.

Wall Street Analysts Forecast Growth

COLB has been the topic of several analyst reports. Wall Street Zen initiated coverage on Columbia Banking System in a research report on Thursday, May 22nd. They issued a “hold” rating on the stock. Zacks Research upgraded Columbia Banking System to a “strong-buy” rating in a research report on Monday, August 11th. Barclays raised their target price on Columbia Banking System from $27.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, July 28th. Piper Sandler raised their target price on Columbia Banking System from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, September 2nd. Finally, Wells Fargo & Company raised their target price on Columbia Banking System from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $29.07.

Columbia Banking System Company Profile

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.