9,226 Shares in Columbia Banking System, Inc. (NASDAQ:COLB) Purchased by CWC Advisors LLC.

CWC Advisors LLC. purchased a new position in Columbia Banking System, Inc. (NASDAQ:COLB) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 9,226 shares of the financial services provider’s stock, valued at approximately $241,000.

Several other institutional investors also recently modified their holdings of the business. Retirement Systems of Alabama increased its stake in shares of Columbia Banking System by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 261,930 shares of the financial services provider’s stock worth $5,068,000 after acquiring an additional 700 shares in the last quarter. Signaturefd LLC increased its stake in Columbia Banking System by 14.0% during the 3rd quarter. Signaturefd LLC now owns 5,767 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 709 shares in the last quarter. Bleakley Financial Group LLC increased its stake in Columbia Banking System by 2.9% during the 3rd quarter. Bleakley Financial Group LLC now owns 25,111 shares of the financial services provider’s stock valued at $656,000 after purchasing an additional 718 shares in the last quarter. Abich Financial Wealth Management LLC increased its stake in Columbia Banking System by 85.1% during the 1st quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 1,020 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in Columbia Banking System by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 58,406 shares of the financial services provider’s stock valued at $1,162,000 after purchasing an additional 1,085 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors.

Columbia Banking System Price Performance

COLB opened at $27.90 on Friday. The firm has a market cap of $5.84 billion, a P/E ratio of 11.97 and a beta of 0.64. Columbia Banking System, Inc. has a 1-year low of $17.08 and a 1-year high of $28.62. The company has a 50 day simple moving average of $25.49 and a two-hundred day simple moving average of $22.21.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. Columbia Banking System had a net margin of 15.94% and a return on equity of 10.89%. The business had revenue of $765.06 million during the quarter, compared to analyst estimates of $478.80 million. During the same period in the prior year, the business posted $0.79 earnings per share. Equities analysts anticipate that Columbia Banking System, Inc. will post 2.55 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, September 9th. Stockholders of record on Friday, August 23rd were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.16%. The ex-dividend date of this dividend was Friday, August 23rd. Columbia Banking System’s dividend payout ratio (DPR) is presently 61.80%.

Analyst Ratings Changes

A number of research firms have weighed in on COLB. Stephens raised their price objective on shares of Columbia Banking System from $22.00 to $26.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. reduced their price target on shares of Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods lifted their price target on shares of Columbia Banking System from $23.00 to $27.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th. Royal Bank of Canada lifted their price target on shares of Columbia Banking System from $29.00 to $31.00 and gave the stock a “sector perform” rating in a research note on Friday. Finally, StockNews.com upgraded shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $26.96.

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.