Columbia Banking System, Inc. (NASDAQ:COLB) Shares Acquired by Summit Trail Advisors LLC

Summit Trail Advisors LLC grew its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 35.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,454 shares of the financial services provider’s stock after buying an additional 4,346 shares during the quarter. Summit Trail Advisors LLC’s holdings in Columbia Banking System were worth $430,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of COLB. Price T Rowe Associates Inc. MD lifted its holdings in shares of Columbia Banking System by 6.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 108,148 shares of the financial services provider’s stock valued at $2,093,000 after buying an additional 6,351 shares during the period. Clean Yield Group lifted its holdings in shares of Columbia Banking System by 74.1% in the 1st quarter. Clean Yield Group now owns 8,892 shares of the financial services provider’s stock valued at $172,000 after buying an additional 3,785 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Columbia Banking System by 13,181.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 16,868 shares of the financial services provider’s stock valued at $317,000 after buying an additional 16,741 shares during the period. Abich Financial Wealth Management LLC lifted its holdings 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 buying an additional 1,020 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Columbia Banking System by 144.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider’s stock valued at $47,000 after buying an additional 1,387 shares during the period. 92.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

COLB has been the subject of several recent analyst reports. Raymond James raised their price target on Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Wedbush lifted their price objective on Columbia Banking System from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Wells Fargo & Company lifted their price objective on Columbia Banking System from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Truist Financial lifted their price objective on Columbia Banking System from $28.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, October 28th. 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $27.12.

Columbia Banking System Stock Down 0.9 %

NASDAQ COLB opened at $31.72 on Wednesday. The stock has a market cap of $6.65 billion, a price-to-earnings ratio of 13.74 and a beta of 0.62. Columbia Banking System, Inc. has a fifty-two week low of $17.08 and a fifty-two week high of $32.85. The business has a fifty day moving average of $27.93 and a 200-day moving average of $23.92.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The business had revenue of $765.06 million during the quarter, compared to the consensus estimate of $478.80 million. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. During the same quarter in the previous year, the business earned $0.79 earnings per share. As a group, analysts anticipate that Columbia Banking System, Inc. will post 2.63 EPS for the current year.

Columbia Banking System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date is Friday, November 29th. Columbia Banking System’s dividend payout ratio is currently 62.34%.

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.