Segall Bryant & Hamill LLC Purchases 190,311 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Segall Bryant & Hamill LLC boosted its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 14.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,534,798 shares of the financial services provider's stock after purchasing an additional 190,311 shares during the period. Segall Bryant & Hamill LLC owned about 0.73% of Columbia Banking System worth $40,074,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COLB. Allworth Financial LP raised its stake in shares of Columbia Banking System by 0.3% in the third quarter. Allworth Financial LP now owns 175,538 shares of the financial services provider's stock valued at $4,583,000 after acquiring an additional 458 shares during the last quarter. Sippican Capital Advisors raised its stake in shares of Columbia Banking System by 0.5% in the third quarter. Sippican Capital Advisors now owns 111,172 shares of the financial services provider's stock valued at $2,903,000 after acquiring an additional 552 shares during the last quarter. Caprock Group LLC raised its stake in shares of Columbia Banking System by 2.5% in the third quarter. Caprock Group LLC now owns 28,371 shares of the financial services provider's stock valued at $741,000 after acquiring an additional 682 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Columbia Banking System by 14.0% in the third quarter. Signaturefd LLC now owns 5,767 shares of the financial services provider's stock valued at $151,000 after purchasing an additional 709 shares in the last quarter. Finally, Bleakley Financial Group LLC increased its holdings in shares of Columbia Banking System by 2.9% in the third quarter. Bleakley Financial Group LLC now owns 25,111 shares of the financial services provider's stock valued at $656,000 after purchasing an additional 718 shares in the last quarter. Institutional investors own 92.53% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on COLB. StockNews.com upgraded Columbia Banking System from a "sell" rating to a "hold" rating in a research report on Saturday, October 5th. Truist Financial boosted their price objective on Columbia Banking System from $28.00 to $30.00 and gave the stock a "hold" rating in a report on Monday, October 28th. Wedbush raised their target price on shares of Columbia Banking System from $31.00 to $35.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Barclays boosted their price target on shares of Columbia Banking System from $25.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Friday, October 25th. Finally, Raymond James raised their price objective on shares of Columbia Banking System from $26.00 to $28.00 and gave the company an "outperform" rating in a research note on Wednesday, October 2nd. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Columbia Banking System presently has an average rating of "Hold" and an average target price of $27.12.

Columbia Banking System Trading Down 1.5 %

Shares of NASDAQ:COLB traded down $0.44 during trading on Wednesday, hitting $29.71. 565,822 shares of the company's stock traded hands, compared to its average volume of 2,245,664. The company has a 50-day moving average price of $27.37 and a 200-day moving average price of $23.62. Columbia Banking System, Inc. has a 52 week low of $17.08 and a 52 week high of $31.86. The company has a market cap of $6.23 billion, a price-to-earnings ratio of 13.05 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.07. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. The company had revenue of $765.06 million during the quarter, compared to analysts' expectations of $478.80 million. During the same period in the prior year, the firm earned $0.79 earnings per share. On average, analysts predict that Columbia Banking System, Inc. will post 2.62 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.85%. The ex-dividend date is Friday, November 29th. Columbia Banking System's dividend payout ratio (DPR) is 62.34%.

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.