SG Americas Securities LLC Sells 24,850 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

SG Americas Securities LLC cut its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 34.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,601 shares of the financial services provider's stock after selling 24,850 shares during the quarter. SG Americas Securities LLC's holdings in Columbia Banking System were worth $927,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LSV Asset Management bought a new position in shares of Columbia Banking System during the first quarter valued at $2,850,000. Channing Capital Management LLC bought a new position in shares of Columbia Banking System in the fourth quarter valued at about $3,955,000. BNP Paribas Financial Markets raised its holdings in shares of Columbia Banking System by 185.1% in the first quarter. BNP Paribas Financial Markets now owns 173,776 shares of the financial services provider's stock valued at $3,363,000 after buying an additional 112,826 shares during the last quarter. First Hawaiian Bank raised its holdings in shares of Columbia Banking System by 81.4% in the second quarter. First Hawaiian Bank now owns 52,594 shares of the financial services provider's stock valued at $1,046,000 after buying an additional 23,597 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Columbia Banking System by 2.6% in the first quarter. Vanguard Group Inc. now owns 22,327,719 shares of the financial services provider's stock valued at $432,041,000 after buying an additional 574,509 shares during the last quarter. 92.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on COLB shares. Wedbush lifted their price target on Columbia Banking System from $20.00 to $25.00 and gave the company a "neutral" rating in a report on Friday, July 26th. 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. Barclays lifted their price target on Columbia Banking System from $21.00 to $24.00 and gave the company an "equal weight" rating in a report on Friday, July 26th. Royal Bank of Canada lifted their price target on Columbia Banking System from $21.00 to $26.00 and gave the company a "sector perform" rating in a report on Friday, July 26th. Finally, Piper Sandler reissued an "overweight" rating and set a $27.00 price objective on shares of Columbia Banking System in a report on Wednesday, June 5th. Twelve research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $25.04.

Columbia Banking System Price Performance

Shares of Columbia Banking System stock traded up $0.35 during trading on Friday, hitting $23.96. 1,453,948 shares of the company were exchanged, compared to its average volume of 2,470,820. The firm has a market capitalization of $5.02 billion, a P/E ratio of 10.28 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. The firm's fifty day moving average price is $21.65 and its 200 day moving average price is $19.86.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.10. The company had revenue of $472.15 million during the quarter, compared to analyst estimates of $476.01 million. Columbia Banking System had a return on equity of 10.89% and a net margin of 15.94%. The company's revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.81 EPS. As a group, equities research analysts anticipate that Columbia Banking System, Inc. will post 2.51 earnings per share for the current year.

Columbia Banking System Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 9th. Stockholders of record on Friday, August 23rd will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $1.44 annualized dividend and a dividend yield of 6.01%. Columbia Banking System's payout ratio is currently 61.80%.

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.