Pathstone Holdings LLC Boosts Stock Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

Pathstone Holdings LLC increased its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 45.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 120,888 shares of the financial services provider's stock after buying an additional 37,941 shares during the quarter. Pathstone Holdings LLC owned 0.06% of Columbia Banking System worth $3,156,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Picton Mahoney Asset Management bought a new position in Columbia Banking System during the 2nd quarter worth about $33,000. Abich Financial Wealth Management LLC grew 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 valued at $43,000 after acquiring an additional 1,020 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of 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 valued at $47,000 after acquiring an additional 1,387 shares in the last quarter. Allspring Global Investments Holdings LLC grew 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 in the last quarter. Finally, Hexagon Capital Partners LLC grew its holdings in shares of Columbia Banking System by 137,166.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 4,118 shares of the financial services provider's stock valued at $82,000 after acquiring an additional 4,115 shares in the last quarter. Institutional investors and hedge funds own 92.53% of the company's stock.

Columbia Banking System Trading Up 1.2 %

COLB stock traded up $0.37 during midday trading on Monday, hitting $32.01. The stock had a trading volume of 2,188,750 shares, compared to its average volume of 2,239,950. The firm has a market cap of $6.71 billion, a P/E ratio of 13.86 and a beta of 0.62. Columbia Banking System, Inc. has a 1-year low of $17.08 and a 1-year high of $32.85. The business has a fifty day moving average price of $27.93 and a two-hundred day moving average price of $23.92.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.07. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. The business had revenue of $765.06 million for the quarter, compared to analyst estimates of $478.80 million. During the same quarter in the previous year, the business earned $0.79 earnings per share. On average, equities analysts anticipate that Columbia Banking System, Inc. will post 2.63 EPS for the current year.

Columbia Banking System Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.50%. The ex-dividend date is Friday, November 29th. Columbia Banking System's payout ratio is currently 62.34%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on COLB shares. Wells Fargo & Company raised their price objective on Columbia Banking System from $28.00 to $30.00 and gave the company an "equal weight" rating in a report on Friday, October 25th. Barclays lifted their price target on Columbia Banking System from $25.00 to $29.00 and gave the stock an "equal weight" rating in a report on Friday, October 25th. Truist Financial lifted their price target on Columbia Banking System from $28.00 to $30.00 and gave the stock a "hold" rating in a report on Monday, October 28th. StockNews.com upgraded shares of Columbia Banking System from a "sell" rating to a "hold" rating in a research report on Saturday, October 5th. Finally, Wedbush raised their price objective on shares of Columbia Banking System from $31.00 to $35.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $27.12.

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.