8,489 Shares in Columbia Banking System, Inc. (NASDAQ:COLB) Acquired by BSW Wealth Partners

BSW Wealth Partners bought a new position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) during the third quarter, HoldingsChannel reports. The institutional investor bought 8,489 shares of the financial services provider’s stock, valued at approximately $222,000.

Several other institutional investors and hedge funds have also made changes to their positions in COLB. Picton Mahoney Asset Management acquired a new position in shares of Columbia Banking System in the second quarter worth about $33,000. Abich Financial Wealth Management LLC raised its position in shares of Columbia Banking System by 85.1% in 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. GAMMA Investing LLC grew its position in shares of Columbia Banking System by 144.0% during the second quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider’s stock worth $47,000 after buying an additional 1,387 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Columbia Banking System by 111.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider’s stock worth $52,000 after buying an additional 1,380 shares during the last quarter. Finally, Hexagon Capital Partners LLC raised its holdings in Columbia Banking System by 137,166.7% in the second quarter. Hexagon Capital Partners LLC now owns 4,118 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 4,115 shares in the last quarter. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Columbia Banking System Stock Down 2.2 %

NASDAQ:COLB opened at $27.76 on Tuesday. Columbia Banking System, Inc. has a 12-month low of $17.08 and a 12-month high of $29.41. The stock’s 50 day moving average price is $25.96 and its two-hundred day moving average price is $22.66. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of 12.02 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The company had revenue of $765.06 million during the quarter, compared to analysts’ expectations of $478.80 million. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. During the same quarter in the previous year, the business posted $0.79 earnings per share. Equities research analysts expect that Columbia Banking System, Inc. will post 2.6 EPS for the current year.

Columbia Banking System Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 23rd were paid a dividend of $0.36 per share. The ex-dividend date was Friday, August 23rd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.19%. Columbia Banking System’s payout ratio is presently 62.34%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on COLB. Wells Fargo & Company boosted their price objective on Columbia Banking System from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Stephens increased their price objective on shares of Columbia Banking System from $22.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Wedbush lifted their target price on Columbia Banking System from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. dropped their target price on Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Finally, StockNews.com raised Columbia Banking System from a “sell” rating to a “hold” rating in a report on Saturday, October 5th. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Columbia Banking System has a consensus rating of “Hold” and a consensus target price of $27.12.

Columbia Banking System 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.