Columbia Banking System, Inc. (NASDAQ:COLB) Shares Sold by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division decreased its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 30.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,171 shares of the financial services provider’s stock after selling 6,734 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Columbia Banking System were worth $396,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Picton Mahoney Asset Management acquired a new position in shares of Columbia Banking System during the 2nd quarter valued at about $33,000. Abich Financial Wealth Management LLC boosted its position in shares of Columbia Banking System by 85.1% during 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 during the last quarter. GAMMA Investing LLC boosted its position in shares of Columbia Banking System by 144.0% during 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 during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Columbia Banking System by 111.5% during 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 during the last quarter. Finally, TFO Wealth Partners LLC boosted its position in shares of Columbia Banking System by 23,158.8% during the 4th quarter. TFO Wealth Partners LLC now owns 3,954 shares of the financial services provider’s stock valued at $105,000 after acquiring an additional 3,937 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Columbia Banking System Price Performance

Shares of NASDAQ:COLB opened at $25.34 on Friday. The firm has a market capitalization of $5.31 billion, a PE ratio of 10.85 and a beta of 0.64. The firm’s 50-day moving average is $24.62 and its two-hundred day moving average is $21.27. Columbia Banking System, Inc. has a 1 year low of $17.08 and a 1 year high of $28.11.

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. Columbia Banking System had a net margin of 15.94% and a return on equity of 10.89%. The firm had revenue of $472.15 million for the quarter, compared to analyst estimates of $476.01 million. During the same period in the prior year, the firm earned $0.81 earnings per share. The business’s quarterly revenue was down 9.8% compared to the same quarter last year. Analysts expect that Columbia Banking System, Inc. will post 2.55 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 23rd were paid a dividend of $0.36 per share. The ex-dividend date was Friday, August 23rd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.68%. Columbia Banking System’s payout ratio is 61.80%.

Wall Street Analyst Weigh In

A number of research analysts have commented on COLB shares. Truist Financial decreased their target price on shares of Columbia Banking System from $29.00 to $28.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. Raymond James upped their target price on shares of Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday. Keefe, Bruyette & Woods upped their target price on shares of Columbia Banking System from $23.00 to $27.00 and gave the company a “market perform” rating in a research report on Friday, July 26th. Stephens upped their target price on shares of Columbia Banking System from $22.00 to $26.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada upped their target price on shares of 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. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Columbia Banking System currently has a consensus rating of “Hold” and an average price target of $25.88.

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.