Hantz Financial Services Inc. Invests $2.65 Million in Columbia Banking System, Inc. (NASDAQ:COLB)

Hantz Financial Services Inc. acquired a new stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 133,404 shares of the financial services provider's stock, valued at approximately $2,653,000. Hantz Financial Services Inc. owned 0.06% of Columbia Banking System as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC bought a new position in Columbia Banking System in the fourth quarter valued at approximately $48,000. Retirement Systems of Alabama lifted its position in shares of Columbia Banking System by 0.3% in the fourth quarter. Retirement Systems of Alabama now owns 261,230 shares of the financial services provider's stock worth $6,970,000 after purchasing an additional 806 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Columbia Banking System by 39.1% in the fourth quarter. Van ECK Associates Corp now owns 51,212 shares of the financial services provider's stock worth $1,366,000 after purchasing an additional 14,395 shares in the last quarter. Essex Financial Services Inc. lifted its position in shares of Columbia Banking System by 9.2% in the fourth quarter. Essex Financial Services Inc. now owns 18,855 shares of the financial services provider's stock worth $503,000 after purchasing an additional 1,585 shares in the last quarter. Finally, M&T Bank Corp bought a new stake in shares of Columbia Banking System in the fourth quarter worth $222,000. Institutional investors and hedge funds own 92.53% of the company's stock.

Columbia Banking System Trading Up 0.7 %

Shares of NASDAQ:COLB traded up $0.18 on Friday, hitting $25.18. The company had a trading volume of 1,468,381 shares, compared to its average volume of 2,425,552. Columbia Banking System, Inc. has a 1-year low of $17.08 and a 1-year high of $28.11. The stock has a market cap of $5.27 billion, a price-to-earnings ratio of 10.81 and a beta of 0.65. The stock has a 50 day moving average price of $22.82 and a 200 day moving average price of $20.24.

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

Columbia Banking System Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 9th. Investors of record on Friday, August 23rd will be paid a $0.36 dividend. The ex-dividend date is Friday, August 23rd. This represents a $1.44 annualized dividend and a dividend yield of 5.72%. Columbia Banking System's dividend payout ratio (DPR) is presently 61.80%.

Analysts Set New Price Targets

A number of brokerages have recently commented on COLB. JPMorgan Chase & Co. boosted their price objective on shares of Columbia Banking System from $22.00 to $29.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 30th. StockNews.com lowered shares of Columbia Banking System from a "hold" rating to a "sell" rating in a research report on Friday. Truist Financial boosted their price objective on shares of Columbia Banking System from $20.00 to $29.00 and gave the stock a "hold" rating in a research report on Monday, July 29th. Barclays boosted their target price on shares of Columbia Banking System from $21.00 to $24.00 and gave the stock an "equal weight" rating in a report on Friday, July 26th. Finally, Piper Sandler restated an "overweight" rating and set a $27.00 target price on shares of Columbia Banking System in a report on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Columbia Banking System presently has a consensus rating of "Hold" and an average target price of $25.04.

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.