Algert Global LLC Sells 267,513 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Algert Global LLC lessened its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 83.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 54,361 shares of the financial services provider's stock after selling 267,513 shares during the quarter. Algert Global LLC's holdings in Columbia Banking System were worth $1,419,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. First Hawaiian Bank grew its holdings in Columbia Banking System by 81.4% in the 2nd quarter. First Hawaiian Bank now owns 52,594 shares of the financial services provider's stock worth $1,046,000 after acquiring an additional 23,597 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Columbia Banking System by 1.6% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,330,133 shares of the financial services provider's stock worth $46,346,000 after purchasing an additional 36,867 shares during the last quarter. Pathstone Holdings LLC increased its holdings in Columbia Banking System by 45.7% during the 3rd quarter. Pathstone Holdings LLC now owns 120,888 shares of the financial services provider's stock valued at $3,156,000 after purchasing an additional 37,941 shares during the period. Leuthold Group LLC purchased a new stake in Columbia Banking System in the 3rd quarter worth approximately $3,181,000. Finally, Natixis Advisors LLC boosted its holdings in Columbia Banking System by 37.8% in the second quarter. Natixis Advisors LLC now owns 97,911 shares of the financial services provider's stock valued at $1,947,000 after acquiring an additional 26,877 shares in the last quarter. Institutional investors own 92.53% of the company's stock.

Columbia Banking System Trading Down 0.8 %

COLB stock traded down $0.25 during trading on Friday, reaching $31.01. The stock had a trading volume of 664,916 shares, compared to its average volume of 2,223,452. Columbia Banking System, Inc. has a 52 week low of $17.08 and a 52 week high of $32.85. The firm has a market cap of $6.50 billion, a PE ratio of 13.69 and a beta of 0.62. The stock's 50 day moving average is $28.30 and its two-hundred day moving average is $24.11.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $765.06 million during the quarter, compared to the consensus estimate 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 firm posted $0.79 EPS. On average, research analysts anticipate that Columbia Banking System, Inc. will post 2.63 EPS for the current year.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.36 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.44 dividend on an annualized basis and a yield of 4.64%. Columbia Banking System's payout ratio is presently 62.34%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on COLB shares. StockNews.com raised shares of Columbia Banking System from a "sell" rating to a "hold" rating in a research report on Saturday, October 5th. Truist Financial upped their price target on Columbia Banking System from $28.00 to $30.00 and gave the stock a "hold" rating in a research note on Monday, October 28th. Wedbush raised their price objective on Columbia Banking System from $31.00 to $35.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Barclays upped their target price on shares of Columbia Banking System from $25.00 to $29.00 and gave the stock an "equal weight" rating in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. lowered 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 report on Wednesday, October 9th. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Columbia Banking System currently has an average rating of "Hold" and a consensus price target 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.