Petiole USA ltd Acquires 11,000 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Petiole USA ltd increased its holdings in Columbia Banking System, Inc. (NASDAQ:COLBFree Report) by 14.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,780 shares of the financial services provider’s stock after purchasing an additional 11,000 shares during the period. Columbia Banking System makes up 1.8% of Petiole USA ltd’s investment portfolio, making the stock its 24th biggest holding. Petiole USA ltd’s holdings in Columbia Banking System were worth $2,395,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Treasurer of the State of North Carolina boosted its holdings in Columbia Banking System by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 91,302 shares of the financial services provider’s stock worth $1,853,000 after purchasing an additional 460 shares in the last quarter. Quadrant Capital Group LLC lifted its position in Columbia Banking System by 17.8% during the 4th quarter. Quadrant Capital Group LLC now owns 3,932 shares of the financial services provider’s stock worth $105,000 after acquiring an additional 595 shares during the last quarter. Caprock Group LLC lifted its position in Columbia Banking System by 2.3% during the 4th quarter. Caprock Group LLC now owns 34,684 shares of the financial services provider’s stock worth $925,000 after acquiring an additional 781 shares during the last quarter. Retirement Systems of Alabama lifted its position in Columbia Banking System by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 261,230 shares of the financial services provider’s stock worth $6,970,000 after acquiring an additional 806 shares during the last quarter. Finally, Essex Financial Services Inc. lifted its position in Columbia Banking System by 6.5% during the 3rd quarter. Essex Financial Services Inc. now owns 17,270 shares of the financial services provider’s stock worth $351,000 after acquiring an additional 1,055 shares during the last quarter. 92.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Columbia Banking System from $23.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, April 4th. Citigroup cut their price objective on shares of Columbia Banking System from $25.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, March 13th. Piper Sandler reaffirmed an “overweight” rating and set a $27.00 price objective on shares of Columbia Banking System in a research report on Wednesday. Truist Financial cut their price objective on shares of Columbia Banking System from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Monday, April 1st. Finally, Wedbush reaffirmed a “neutral” rating and set a $20.00 price objective on shares of Columbia Banking System in a research report on Friday, April 26th. Twelve investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $22.04.

Read Our Latest Stock Analysis on COLB

Columbia Banking System Trading Up 0.2 %

Shares of COLB traded up $0.04 during mid-day trading on Friday, hitting $18.93. 2,255,380 shares of the company traded hands, compared to its average volume of 1,613,342. Columbia Banking System, Inc. has a one year low of $17.08 and a one year high of $28.11. The business has a 50-day moving average of $19.08 and a 200 day moving average of $20.98. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of 8.12 and a beta of 0.67.

Columbia Banking System (NASDAQ:COLBGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.53 by $0.12. Columbia Banking System had a net margin of 16.52% and a return on equity of 11.58%. The business had revenue of $473.72 million for the quarter, compared to analysts’ expectations of $480.39 million. During the same period in the prior year, the firm earned $0.46 earnings per share. Columbia Banking System’s revenue was up 10.3% compared to the same quarter last year. As a group, analysts anticipate that Columbia Banking System, Inc. will post 2.44 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 24th will be paid a $0.36 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $1.44 dividend on an annualized basis and a yield of 7.61%. Columbia Banking System’s payout ratio is presently 61.80%.

About Columbia Banking System

(Free Report)

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.

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

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