Kestra Investment Management LLC Makes New $751,000 Investment in Columbia Banking System, Inc. (NASDAQ:COLB)

Kestra Investment Management LLC purchased a new stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 28,748 shares of the financial services provider's stock, valued at approximately $751,000.

Other large investors have also added to or reduced their stakes in the company. First Hawaiian Bank grew its holdings in Columbia Banking System by 81.4% during the 2nd quarter. First Hawaiian Bank now owns 52,594 shares of the financial services provider's stock valued at $1,046,000 after purchasing an additional 23,597 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Columbia Banking System by 1.6% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,330,133 shares of the financial services provider's stock worth $46,346,000 after acquiring an additional 36,867 shares in the last quarter. Pathstone Holdings LLC grew 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 worth $3,156,000 after acquiring an additional 37,941 shares in the last quarter. Leuthold Group LLC acquired a new position in Columbia Banking System during the 3rd quarter worth $3,181,000. Finally, Natixis Advisors LLC grew its holdings in Columbia Banking System by 37.8% during the 2nd quarter. Natixis Advisors LLC now owns 97,911 shares of the financial services provider's stock worth $1,947,000 after acquiring an additional 26,877 shares in the last quarter. 92.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on COLB. StockNews.com raised shares of Columbia Banking System from a "sell" rating to a "hold" rating in a report on Saturday, October 5th. Royal Bank of Canada raised their price objective on shares of Columbia Banking System from $29.00 to $31.00 and gave the stock a "sector perform" rating in a report on Friday, October 25th. Wedbush raised their price objective on shares of 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 target on shares of Columbia Banking System from $28.00 to $30.00 and gave the company an "equal weight" rating in a report on Friday, October 25th. Finally, Truist Financial lifted their price target on shares of Columbia Banking System from $28.00 to $30.00 and gave the company a "hold" rating in a report on Monday, October 28th. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $27.12.

Columbia Banking System Trading Up 0.6 %

Columbia Banking System stock traded up $0.19 during midday trading on Monday, reaching $31.20. 443,964 shares of the stock traded hands, compared to its average volume of 2,215,476. The firm has a fifty day moving average price of $28.41 and a two-hundred day moving average price of $24.24. The firm has a market cap of $6.54 billion, a price-to-earnings ratio of 13.42 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.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its earnings results 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 analyst estimates 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 period in the previous year, the business posted $0.79 EPS. Analysts anticipate that Columbia Banking System, Inc. will post 2.63 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, November 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.62%. Columbia Banking System's dividend payout ratio (DPR) is 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.