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Columbia Banking System, Inc. (NASDAQ:COLB) Shares Sold by Captrust Financial Advisors

Columbia Banking System logo with Finance background

Captrust Financial Advisors reduced its stake in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 37.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,083 shares of the financial services provider's stock after selling 37,364 shares during the period. Captrust Financial Advisors' holdings in Columbia Banking System were worth $1,621,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management acquired a new stake in Columbia Banking System during the 2nd quarter worth $33,000. GAMMA Investing LLC boosted its holdings in shares of Columbia Banking System by 144.0% in the second quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider's stock valued at $47,000 after acquiring an additional 1,387 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Columbia Banking System by 111.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 1,380 shares during the period. Hexagon Capital Partners LLC raised its position in Columbia Banking System by 137,166.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 4,118 shares of the financial services provider's stock valued at $82,000 after purchasing an additional 4,115 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Columbia Banking System by 1,507.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,855 shares of the financial services provider's stock worth $127,000 after purchasing an additional 4,553 shares during the period. Institutional investors and hedge funds own 92.53% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Columbia Banking System from $30.00 to $34.00 and gave the company a "market perform" rating in a research note on Wednesday. Truist Financial upped their price objective on Columbia Banking System from $28.00 to $30.00 and gave the company a "hold" rating in a research note on Monday, October 28th. StockNews.com upgraded Columbia Banking System from a "sell" rating to a "hold" rating in a research note on Saturday, October 5th. Royal Bank of Canada upped their price target on Columbia Banking System from $29.00 to $31.00 and gave the stock a "sector perform" rating in a research note on Friday, October 25th. Finally, Raymond James lifted their price objective on shares of Columbia Banking System from $26.00 to $28.00 and gave the company an "outperform" rating in a research report on Wednesday, October 2nd. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $28.19.

Get Our Latest Stock Analysis on Columbia Banking System

Columbia Banking System Price Performance

Columbia Banking System stock traded up $0.04 during mid-day trading on Friday, reaching $30.19. The company had a trading volume of 918,074 shares, compared to its average volume of 1,272,197. The stock's 50-day simple moving average is $28.86 and its 200-day simple moving average is $24.57. Columbia Banking System, Inc. has a 1 year low of $17.08 and a 1 year high of $32.85. The company has a market capitalization of $6.33 billion, a P/E ratio of 13.07 and a beta of 0.64.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 10.13% and a net margin of 16.15%. During the same period last year, the business posted $0.79 EPS. On average, equities analysts forecast that Columbia Banking System, Inc. will post 2.63 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, December 16th. Investors of record on Friday, November 29th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.44 dividend on an annualized basis and a yield of 4.77%. Columbia Banking System's payout ratio is 62.34%.

Columbia Banking System Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Columbia Banking System (NASDAQ:COLB)

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