Stephens Consulting LLC Has $56,000 Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Stephens Consulting LLC lessened its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 50.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,818 shares of the financial services provider’s stock after selling 2,817 shares during the period. Stephens Consulting LLC’s holdings in Columbia Banking System were worth $56,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in COLB. Norges Bank acquired a new position in shares of Columbia Banking System in the fourth quarter valued at $63,152,000. Public Employees Retirement Association of Colorado boosted its holdings in shares of Columbia Banking System by 3,245.7% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 864,604 shares of the financial services provider’s stock worth $23,068,000 after buying an additional 838,762 shares during the period. Silvercrest Asset Management Group LLC grew its stake in Columbia Banking System by 21.4% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 4,468,643 shares of the financial services provider’s stock valued at $86,468,000 after buying an additional 788,383 shares during the last quarter. Franklin Resources Inc. raised its holdings in Columbia Banking System by 9.9% in the 4th quarter. Franklin Resources Inc. now owns 7,788,928 shares of the financial services provider’s stock valued at $207,809,000 after acquiring an additional 700,643 shares during the period. Finally, Wellington Management Group LLP lifted its position in Columbia Banking System by 16.2% during the fourth quarter. Wellington Management Group LLP now owns 4,578,618 shares of the financial services provider’s stock worth $122,158,000 after acquiring an additional 637,212 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Columbia Banking System Stock Performance

Shares of NASDAQ COLB traded up $0.18 during trading hours on Friday, hitting $25.18. 1,468,106 shares of the stock were exchanged, compared to its average volume of 2,425,552. The company’s fifty day simple moving average is $22.82 and its two-hundred day simple moving average is $20.23. The company has a market cap of $5.27 billion, a PE ratio of 10.81 and a beta of 0.65. Columbia Banking System, Inc. has a 1-year low of $17.08 and a 1-year high of $28.11.

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10. Columbia Banking System had a return on equity of 10.89% and a net margin of 15.94%. The firm had revenue of $472.15 million during the quarter, compared to analysts’ expectations of $476.01 million. During the same period in the prior year, the company earned $0.81 earnings per share. The company’s quarterly revenue was down 9.8% on a year-over-year basis. As a group, sell-side analysts expect that Columbia Banking System, Inc. will post 2.51 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 9th. Investors of record on Friday, August 23rd will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 5.72%. The ex-dividend date of this dividend is Friday, August 23rd. Columbia Banking System’s dividend payout ratio (DPR) is presently 61.80%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on COLB shares. Truist Financial upped their target price on Columbia Banking System from $20.00 to $29.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods increased their price objective on Columbia Banking System from $23.00 to $27.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Royal Bank of Canada lifted their target price on Columbia Banking System from $21.00 to $26.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. StockNews.com downgraded shares of Columbia Banking System from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Wells Fargo & Company boosted 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 report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Columbia Banking System currently has a consensus rating of “Hold” and an average price target of $25.04.

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.