Columbia Banking System, Inc. (NASDAQ:COLB) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 53.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 165,815 shares of the financial services provider's stock after selling 190,520 shares during the period. Thrivent Financial for Lutherans owned about 0.08% of Columbia Banking System worth $4,330,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Picton Mahoney Asset Management bought a new position in shares of Columbia Banking System in the second quarter worth about $33,000. Abich Financial Wealth Management LLC increased its position in shares of Columbia Banking System by 85.1% during the first 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 raised its stake in shares of Columbia Banking System by 144.0% during the second 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 boosted its holdings in shares of 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. Finally, Hexagon Capital Partners LLC grew its stake in Columbia Banking System by 137,166.7% in the second quarter. Hexagon Capital Partners LLC now owns 4,118 shares of the financial services provider's stock worth $82,000 after purchasing an additional 4,115 shares in the last quarter. Institutional investors own 92.53% of the company's stock.

Columbia Banking System Stock Up 1.2 %

Shares of COLB traded up $0.37 during mid-day trading on Monday, hitting $32.01. 2,327,647 shares of the company traded hands, compared to its average volume of 2,239,341. The company has a market capitalization of $6.71 billion, a PE ratio of 13.70 and a beta of 0.62. The business has a 50 day moving average of $27.78 and a 200 day moving average of $23.84. Columbia Banking System, Inc. has a 1-year low of $17.08 and a 1-year high of $32.85.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.07. The business had revenue of $765.06 million during the quarter, compared to analysts' expectations of $478.80 million. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. During the same quarter last year, the company posted $0.79 earnings per share. As a group, research analysts expect that Columbia Banking System, Inc. will post 2.63 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on COLB shares. Wedbush upped their target price on Columbia Banking System from $31.00 to $35.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. Raymond James increased their target price on shares of Columbia Banking System from $26.00 to $28.00 and gave the stock an "outperform" rating in a report on Wednesday, October 2nd. Wells Fargo & Company upped their price target on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Friday, October 25th. Truist Financial lifted their price objective on shares of Columbia Banking System from $28.00 to $30.00 and gave the company a "hold" rating in a report on Monday, October 28th. Finally, JPMorgan Chase & Co. lowered their target price on Columbia Banking System from $29.00 to $28.00 and set a "neutral" rating for the company in a report on Wednesday, October 9th. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $27.12.

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.