D.A. Davidson & CO. Acquires 48,972 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

D.A. Davidson & CO. grew its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 27.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 229,861 shares of the financial services provider's stock after purchasing an additional 48,972 shares during the quarter. D.A. Davidson & CO. owned approximately 0.11% of Columbia Banking System worth $4,572,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Picton Mahoney Asset Management bought a new position in Columbia Banking System in the 2nd quarter worth about $33,000. Fifth Third Bancorp grew its holdings in 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 in the last quarter. Abich Financial Wealth Management LLC boosted its position in Columbia Banking System by 85.1% during the 1st quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider's stock worth $43,000 after acquiring an additional 1,020 shares during the period. GAMMA Investing LLC grew its stake 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 worth $47,000 after purchasing an additional 1,387 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Columbia Banking System by 111.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 1,380 shares during the period. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Columbia Banking System Stock Down 2.0 %

Shares of Columbia Banking System stock traded down $0.51 during trading on Tuesday, hitting $24.67. The stock had a trading volume of 1,221,163 shares, compared to its average volume of 2,418,381. Columbia Banking System, Inc. has a 1 year low of $17.08 and a 1 year high of $28.11. The stock has a 50 day simple moving average of $22.94 and a 200 day simple moving average of $20.29. The company has a market capitalization of $5.17 billion, a PE ratio of 10.81 and a beta of 0.65.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10. The firm had revenue of $472.15 million for the quarter, compared to analysts' expectations of $476.01 million. Columbia Banking System had a net margin of 15.94% and a return on equity of 10.89%. The company's quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.81 EPS. As a group, equities analysts expect that Columbia Banking System, Inc. will post 2.55 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently disclosed 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. This represents a $1.44 annualized dividend and a yield of 5.84%. The ex-dividend date is Friday, August 23rd. Columbia Banking System's dividend payout ratio is currently 61.80%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on COLB. Wedbush upped their price objective on shares of Columbia Banking System from $20.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, July 26th. Wells Fargo & Company raised their price objective on shares of Columbia Banking System from $22.00 to $26.00 and gave the company an "equal weight" rating in a research note on Friday, July 26th. Truist Financial upped their target price on 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 lifted their price target on Columbia Banking System from $21.00 to $24.00 and gave the company an "equal weight" rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada upped their price objective 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. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target 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.