Stieven Capital Advisors L.P. Invests $9.46 Million in Columbia Banking System, Inc. (NASDAQ:COLB)

Stieven Capital Advisors L.P. purchased a new stake in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund purchased 475,500 shares of the financial services provider's stock, valued at approximately $9,458,000. Columbia Banking System comprises about 2.1% of Stieven Capital Advisors L.P.'s portfolio, making the stock its 18th largest holding. Stieven Capital Advisors L.P. owned approximately 0.23% of Columbia Banking System as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in COLB. Picton Mahoney Asset Management purchased a new position in shares of Columbia Banking System in the second quarter valued at $33,000. Fifth Third Bancorp increased its holdings in shares of Columbia Banking System by 113.4% in the 1st quarter. Fifth Third Bancorp now owns 1,970 shares of the financial services provider's stock worth $38,000 after buying an additional 1,047 shares during the last quarter. Abich Financial Wealth Management LLC increased its holdings in shares of Columbia Banking System by 85.1% in the 1st quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider's stock worth $43,000 after buying an additional 1,020 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Columbia Banking System by 144.0% during the 2nd quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider's stock valued at $47,000 after buying an additional 1,387 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted 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 last quarter. Institutional investors own 92.53% of the company's stock.

Columbia Banking System Price Performance

Shares of NASDAQ:COLB traded up $0.18 during trading on Friday, reaching $25.18. 1,468,381 shares of the company were exchanged, compared to its average volume of 1,594,203. The business's fifty day simple moving average is $22.82 and its 200-day simple moving average is $20.24. Columbia Banking System, Inc. has a 12-month low of $17.08 and a 12-month high of $28.11. The firm has a market capitalization of $5.27 billion, a PE ratio of 10.81 and a beta of 0.65.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $476.01 million. Columbia Banking System had a return on equity of 10.89% and a net margin of 15.94%. Columbia Banking System's revenue was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.81 earnings per share. On average, sell-side analysts anticipate that Columbia Banking System, Inc. will post 2.55 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 9th. Stockholders of record on Friday, August 23rd will be paid 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 5.72%. Columbia Banking System's dividend payout ratio is currently 61.80%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Royal Bank of Canada boosted their price objective on Columbia Banking System from $21.00 to $26.00 and gave the stock a "sector perform" rating in a research note on Friday, July 26th. JPMorgan Chase & Co. increased their price target on Columbia Banking System from $22.00 to $29.00 and gave the company a "neutral" rating in a report on Tuesday, July 30th. Keefe, Bruyette & Woods raised their price target on Columbia Banking System from $23.00 to $27.00 and gave the stock a "market perform" rating in a research report on Friday, July 26th. Wedbush boosted their price objective on shares of Columbia Banking System from $20.00 to $25.00 and gave the company a "neutral" rating in a research report on Friday, July 26th. Finally, Truist Financial raised their target price on shares of Columbia Banking System from $20.00 to $29.00 and gave the stock a "hold" rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $25.04.

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.