Summit Trail Advisors LLC Boosts Stake in Columbia Banking System, Inc. (NASDAQ:COLB)

Summit Trail Advisors LLC raised its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 35.9% in the third quarter, Holdings Channel.com reports. The fund owned 16,454 shares of the financial services provider’s stock after buying an additional 4,346 shares during the quarter. Summit Trail Advisors LLC’s holdings in Columbia Banking System were worth $430,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management purchased a new stake in Columbia Banking System during the second quarter valued at about $33,000. Abich Financial Wealth Management LLC grew its position in 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 valued at $43,000 after acquiring an additional 1,020 shares during the period. GAMMA Investing LLC grew its position in 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 during the period. Allspring Global Investments Holdings LLC grew its position in Columbia Banking System by 111.5% during 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 acquiring an additional 1,380 shares during the period. Finally, Hexagon Capital Partners LLC boosted its position in shares of 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 buying an additional 4,115 shares during the period. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Analyst Ratings Changes

COLB has been the subject of several analyst reports. Barclays upped their target price on Columbia Banking System from $25.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. StockNews.com raised Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Saturday, October 5th. Royal Bank of Canada upped their target price on Columbia Banking System from $29.00 to $31.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Wells Fargo & Company upped their target price on 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. Finally, Raymond James upped their target price on Columbia Banking System from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report 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, Columbia Banking System presently has a consensus rating of “Hold” and an average target price of $27.12.

Columbia Banking System Stock Down 0.9 %

Shares of NASDAQ COLB opened at $31.72 on Wednesday. The stock’s 50 day moving average price is $27.93 and its two-hundred day moving average price is $23.92. Columbia Banking System, Inc. has a 52-week low of $17.08 and a 52-week high of $32.85. The stock has a market capitalization of $6.65 billion, a P/E ratio of 13.74 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data 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 return on equity of 10.13% and a net margin of 16.15%. The firm had revenue of $765.06 million for the quarter, compared to analysts’ expectations of $478.80 million. During the same quarter in the prior year, the firm posted $0.79 earnings per share. On average, analysts anticipate that Columbia Banking System, Inc. will post 2.63 EPS for the current year.

Columbia Banking System Dividend Announcement

The company also recently disclosed 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. This represents a $1.44 annualized dividend and a yield of 4.54%. The ex-dividend date is Friday, November 29th. Columbia Banking System’s payout ratio is currently 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.