Moody Aldrich Partners LLC Boosts Stock Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Moody Aldrich Partners LLC boosted its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLBGet Rating) by 13.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 399,770 shares of the financial services provider’s stock after purchasing an additional 47,638 shares during the quarter. Columbia Banking System makes up approximately 1.8% of Moody Aldrich Partners LLC’s holdings, making the stock its 11th largest holding. Moody Aldrich Partners LLC owned about 0.51% of Columbia Banking System worth $12,901,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of COLB. Earnest Partners LLC purchased a new stake in Columbia Banking System during the 4th quarter worth approximately $27,000. Covestor Ltd bought a new stake in shares of Columbia Banking System in the 4th quarter valued at approximately $28,000. Meeder Asset Management Inc. bought a new stake in shares of Columbia Banking System in the 1st quarter valued at approximately $41,000. Pinebridge Investments L.P. bought a new stake in shares of Columbia Banking System in the 4th quarter valued at approximately $69,000. Finally, Howe & Rusling Inc. bought a new stake in shares of Columbia Banking System in the 1st quarter valued at approximately $88,000. 94.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COLB has been the subject of a number of research analyst reports. Royal Bank of Canada boosted their price target on Columbia Banking System from $35.00 to $36.00 and gave the company a “sector perform” rating in a report on Friday, April 22nd. Piper Sandler lowered their price target on Columbia Banking System from $35.00 to $31.00 in a report on Monday, May 2nd. Finally, Raymond James reduced their price objective on Columbia Banking System from $38.00 to $34.00 and set an “outperform” rating for the company in a research report on Thursday, July 7th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Columbia Banking System presently has a consensus rating of “Hold” and a consensus target price of $34.80.

Columbia Banking System Stock Down 1.4 %

COLB stock traded down $0.45 during trading on Wednesday, reaching $32.31. 13,670 shares of the company’s stock were exchanged, compared to its average volume of 752,327. Columbia Banking System, Inc. has a 1-year low of $26.97 and a 1-year high of $40.78. The company’s fifty day moving average price is $29.44 and its 200-day moving average price is $31.29. The firm has a market cap of $2.54 billion, a PE ratio of 11.78 and a beta of 0.67.

Columbia Banking System (NASDAQ:COLBGet Rating) last announced its quarterly earnings results on Thursday, July 21st. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). Columbia Banking System had a return on equity of 9.68% and a net margin of 31.28%. During the same period last year, the business posted $0.77 EPS. As a group, sell-side analysts expect that Columbia Banking System, Inc. will post 2.74 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 17th. Stockholders of record on Wednesday, August 3rd will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, August 2nd. This represents a $1.20 annualized dividend and a dividend yield of 3.71%. Columbia Banking System’s dividend payout ratio (DPR) is 43.17%.

Insider Activity

In other news, Director Craig D. Eerkes acquired 1,694 shares of the business’s stock in a transaction dated Friday, June 10th. The stock was acquired at an average price of $28.52 per share, for a total transaction of $48,312.88. Following the completion of the acquisition, the director now directly owns 20,227 shares in the company, valued at approximately $576,874.04. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders bought a total of 2,713 shares of company stock worth $74,593 over the last 90 days. 0.62% of the stock is currently owned by company insiders.

Columbia Banking System Profile

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Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in the United States. It offers personal banking products and services, including noninterest and interest-bearing checking, savings, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and other personal loans; debit and credit cards; and digital banking services.

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Institutional Ownership by Quarter for Columbia Banking System (NASDAQ:COLB)

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