Columbia Banking System, Inc. (NASDAQ:COLB) Holdings Decreased by Quad Cities Investment Group LLC

Quad Cities Investment Group LLC lessened its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 3.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,877 shares of the financial services provider’s stock after selling 1,187 shares during the period. Quad Cities Investment Group LLC’s holdings in Columbia Banking System were worth $832,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of COLB. Retirement Systems of Alabama boosted its holdings in Columbia Banking System by 0.3% during the first quarter. Retirement Systems of Alabama now owns 261,930 shares of the financial services provider’s stock worth $5,068,000 after buying an additional 700 shares in the last quarter. Abich Financial Wealth Management LLC raised its position in shares of Columbia Banking System by 85.1% during the first quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 1,020 shares during the period. Arizona State Retirement System lifted its holdings in shares of Columbia Banking System by 1.9% during the second 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 during the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of Columbia Banking System by 26.5% during the third quarter. Hexagon Capital Partners LLC now owns 5,209 shares of the financial services provider’s stock valued at $136,000 after purchasing an additional 1,091 shares during the last quarter. Finally, State of Michigan Retirement System boosted its position in shares of Columbia Banking System by 2.4% in the 1st quarter. State of Michigan Retirement System now owns 51,241 shares of the financial services provider’s stock valued at $992,000 after purchasing an additional 1,200 shares during the period. Institutional investors and hedge funds own 92.53% of the company’s stock.

Columbia Banking System Price Performance

NASDAQ:COLB traded down $0.06 during mid-day trading on Thursday, reaching $27.63. The stock had a trading volume of 342,058 shares, compared to its average volume of 2,310,616. The stock has a market cap of $5.79 billion, a P/E ratio of 11.88 and a beta of 0.64. The business’s 50 day moving average is $24.93 and its 200 day moving average is $21.80. Columbia Banking System, Inc. has a fifty-two week low of $17.08 and a fifty-two week high of $28.15.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. The company had revenue of $472.15 million for the quarter, compared to analyst estimates of $476.01 million. Columbia Banking System had a net margin of 15.94% and a return on equity of 10.89%. Columbia Banking System’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.81 EPS. Equities analysts expect that Columbia Banking System, Inc. will post 2.55 EPS for the current year.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders 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 annualized dividend and a dividend yield of 5.21%. Columbia Banking System’s dividend payout ratio (DPR) is presently 61.80%.

Wall Street Analysts Forecast Growth

COLB has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on shares of Columbia Banking System from $26.00 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 1st. Stephens raised 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. Raymond James boosted their target price on shares of Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Barclays increased their target price on Columbia Banking System from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Finally, Keefe, Bruyette & Woods lifted their price target on Columbia Banking System from $23.00 to $27.00 and gave the company a “market perform” rating in a report on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Columbia Banking System has a consensus rating of “Hold” and an average target price of $25.81.

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.