Columbia Banking System, Inc. (NASDAQ:COLB) Shares Purchased by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management increased its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 39.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 10,833 shares of the financial services provider’s stock after acquiring an additional 3,090 shares during the period. Keudell Morrison Wealth Management’s holdings in Columbia Banking System were worth $210,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COLB. First Pacific Financial purchased a new stake in shares of Columbia Banking System in the fourth quarter valued at $40,000. Headlands Technologies LLC purchased a new stake in shares of Columbia Banking System in the fourth quarter valued at $42,000. GAMMA Investing LLC purchased a new stake in shares of Columbia Banking System in the fourth quarter valued at $48,000. Fifth Third Bancorp boosted its position in shares of Columbia Banking System by 113.4% in the first quarter. Fifth Third Bancorp now owns 1,970 shares of the financial services provider’s stock worth $38,000 after buying an additional 1,047 shares during the period. Finally, Quadrant Capital Group LLC boosted its position in shares of Columbia Banking System by 17.8% in the fourth quarter. Quadrant Capital Group LLC now owns 3,932 shares of the financial services provider’s stock worth $105,000 after buying an additional 595 shares during the period. 92.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods decreased their target price on Columbia Banking System from $25.00 to $23.00 and set a “market perform” rating for the company in a research report on Friday, April 5th. Wells Fargo & Company cut their price target on Columbia Banking System from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 10th. StockNews.com cut Columbia Banking System from a “hold” rating to a “sell” rating in a research note on Friday, June 28th. Wedbush reiterated a “neutral” rating and issued a $20.00 price target on shares of Columbia Banking System in a research note on Friday, April 26th. Finally, JPMorgan Chase & Co. cut their price target on Columbia Banking System from $23.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $22.04.

Columbia Banking System Stock Up 4.1 %

Shares of NASDAQ:COLB traded up $0.88 on Monday, reaching $22.32. The company had a trading volume of 1,499,619 shares, compared to its average volume of 2,519,731. The stock has a 50-day moving average price of $19.43 and a 200 day moving average price of $19.96. The stock has a market capitalization of $4.67 billion, a P/E ratio of 9.20 and a beta of 0.66. Columbia Banking System, Inc. has a twelve month low of $17.08 and a twelve month high of $28.11.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.65 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 business had revenue of $473.72 million for the quarter, compared to analyst estimates of $480.39 million. During the same period in the previous year, the company posted $0.46 earnings per share. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, sell-side analysts predict that Columbia Banking System, Inc. will post 2.44 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, June 10th. Shareholders of record on Friday, May 24th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 6.45%. The ex-dividend date was Thursday, May 23rd. Columbia Banking System’s payout ratio is 61.80%.

About Columbia Banking System

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.