PARK CIRCLE Co Acquires New Stake in Columbia Banking System, Inc. (NASDAQ:COLB)

PARK CIRCLE Co purchased a new stake in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 54,400 shares of the financial services provider's stock, valued at approximately $1,082,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COLB. Picton Mahoney Asset Management acquired a new position in shares of Columbia Banking System in the second quarter worth about $33,000. Fifth Third Bancorp increased its stake 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 valued at $38,000 after purchasing an additional 1,047 shares in the last quarter. Abich Financial Wealth Management LLC increased its stake 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 valued at $43,000 after purchasing an additional 1,020 shares in the last quarter. GAMMA Investing LLC raised its holdings in Columbia Banking System by 144.0% in the 2nd 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 during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Columbia Banking System by 111.5% in 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 owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

COLB has been the topic of a number of recent analyst reports. Barclays increased their target price 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. Truist Financial raised their price target 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. Keefe, Bruyette & Woods lifted their price objective on Columbia Banking System from $23.00 to $27.00 and gave the company a "market perform" rating in a research note on Friday, July 26th. Wells Fargo & Company increased their target price on Columbia Banking System from $22.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada lifted their target price on Columbia Banking System from $21.00 to $26.00 and gave the company a "sector perform" rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $25.04.

Columbia Banking System Trading Up 0.0 %

Shares of NASDAQ COLB traded up $0.01 during trading hours on Thursday, reaching $24.25. The stock had a trading volume of 1,093,887 shares, compared to its average volume of 2,404,465. The firm has a 50-day moving average of $23.17 and a 200-day moving average of $20.37. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of 10.39 and a beta of 0.64. Columbia Banking System, Inc. has a fifty-two week low of $17.08 and a fifty-two week high of $28.11.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.10. The business 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 EPS. On average, equities analysts predict that Columbia Banking System, Inc. will post 2.55 EPS for the current year.

Columbia Banking System Dividend Announcement

The firm also recently announced 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 is Friday, August 23rd. This represents a $1.44 annualized dividend and a dividend yield of 5.94%. Columbia Banking System's dividend payout ratio (DPR) is 61.80%.

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.