Hunter Perkins Capital Management LLC Has $5.39 Million Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

Hunter Perkins Capital Management LLC reduced its stake in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 25.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 206,383 shares of the financial services provider's stock after selling 71,314 shares during the period. Columbia Banking System makes up approximately 1.1% of Hunter Perkins Capital Management LLC's holdings, making the stock its 28th largest holding. Hunter Perkins Capital Management LLC owned approximately 0.10% of Columbia Banking System worth $5,389,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. LSV Asset Management acquired a new position in shares of Columbia Banking System in the 1st quarter worth approximately $2,850,000. BNP Paribas Financial Markets boosted its holdings in shares of Columbia Banking System by 185.1% in the 1st quarter. BNP Paribas Financial Markets now owns 173,776 shares of the financial services provider's stock worth $3,363,000 after acquiring an additional 112,826 shares in the last quarter. First Hawaiian Bank boosted its holdings in shares of Columbia Banking System by 81.4% in the 2nd quarter. First Hawaiian Bank now owns 52,594 shares of the financial services provider's stock worth $1,046,000 after acquiring an additional 23,597 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Columbia Banking System by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 22,327,719 shares of the financial services provider's stock worth $432,041,000 after acquiring an additional 574,509 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Columbia Banking System by 7.6% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 420,374 shares of the financial services provider's stock worth $8,135,000 after acquiring an additional 29,728 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on COLB. JPMorgan Chase & Co. reduced their price objective on Columbia Banking System from $29.00 to $28.00 and set a "neutral" rating on the stock in a report on Wednesday, October 9th. StockNews.com raised Columbia Banking System from a "sell" rating to a "hold" rating in a report on Saturday, October 5th. Truist Financial reduced their price objective on Columbia Banking System from $29.00 to $28.00 and set a "hold" rating on the stock in a report on Friday, September 20th. Stephens upped their price objective on Columbia Banking System from $22.00 to $26.00 and gave the stock an "equal weight" rating in a report on Friday, July 26th. Finally, Raymond James upped their price objective on Columbia Banking System from $26.00 to $28.00 and gave the stock an "outperform" rating in a report on Wednesday, October 2nd. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Columbia Banking System currently has a consensus rating of "Hold" and an average price target of $25.81.

Columbia Banking System Stock Up 0.9 %

Shares of COLB traded up $0.24 during trading hours on Wednesday, reaching $27.69. The stock had a trading volume of 1,682,304 shares, compared to its average volume of 2,320,458. Columbia Banking System, Inc. has a 52 week low of $17.08 and a 52 week high of $28.15. The firm has a 50-day moving average of $24.84 and a 200 day moving average of $21.76. The company has a market cap of $5.80 billion, a P/E ratio of 11.88 and a beta of 0.64.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.10. The firm had revenue of $472.15 million during 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%. The company's revenue was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 EPS. As a group, equities analysts expect that Columbia Banking System, Inc. will post 2.55 earnings per share for the current year.

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 23rd were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.20%. The ex-dividend date was Friday, August 23rd. Columbia Banking System's payout ratio is 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.