Moody National Bank Trust Division Has $666,000 Stock Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Moody National Bank Trust Division raised its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 44.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,434 shares of the financial services provider’s stock after buying an additional 10,593 shares during the quarter. Moody National Bank Trust Division’s holdings in Columbia Banking System were worth $666,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. First Pacific Financial acquired a new position in Columbia Banking System in the fourth quarter valued at approximately $40,000. Headlands Technologies LLC acquired a new position in Columbia Banking System in the fourth quarter valued at approximately $42,000. GAMMA Investing LLC bought a new stake in shares of Columbia Banking System during the fourth quarter valued at approximately $48,000. Cerity Partners LLC bought a new stake in shares of Columbia Banking System during the fourth quarter valued at approximately $59,000. Finally, Quadrant Capital Group LLC increased its holdings in shares of Columbia Banking System by 17.8% during the fourth quarter. Quadrant Capital Group LLC now owns 3,932 shares of the financial services provider’s stock valued at $105,000 after acquiring an additional 595 shares in the last quarter. 92.53% of the stock is owned by institutional investors and hedge funds.

Columbia Banking System Stock Performance

NASDAQ:COLB traded down $0.18 during trading on Wednesday, reaching $18.64. The company’s stock had a trading volume of 1,135,491 shares, compared to its average volume of 1,828,915. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 8.00 and a beta of 0.67. The firm has a 50 day moving average of $19.07 and a 200-day moving average of $20.76. Columbia Banking System, Inc. has a 12 month low of $17.08 and a 12 month high of $28.11.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.12. The firm had revenue of $473.72 million during the quarter, compared to the consensus estimate of $480.39 million. Columbia Banking System had a return on equity of 11.58% and a net margin of 16.52%. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.46 EPS. Equities research analysts forecast that Columbia Banking System, Inc. will post 2.44 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 24th were paid a $0.36 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.44 dividend on an annualized basis and a yield of 7.73%. Columbia Banking System’s dividend payout ratio (DPR) is presently 61.80%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on COLB shares. Truist Financial decreased their price objective on Columbia Banking System from $22.00 to $20.00 and set a “hold” rating for the company in a report on Monday, April 1st. TheStreet downgraded Columbia Banking System from a “b-” rating to a “c+” rating in a report on Thursday, February 22nd. JPMorgan Chase & Co. decreased their price objective on Columbia Banking System from $23.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, April 4th. Citigroup decreased their price objective on Columbia Banking System from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, March 13th. Finally, Wells Fargo & Company decreased their price target on Columbia Banking System from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Wednesday, April 10th. Twelve equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.04.

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.