Westwood Holdings Group Inc. Sells 3,780 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Westwood Holdings Group Inc. lowered its position in shares of Columbia Banking System, Inc. (NASDAQ:COLBFree Report) by 5.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 64,379 shares of the financial services provider’s stock after selling 3,780 shares during the period. Westwood Holdings Group Inc.’s holdings in Columbia Banking System were worth $1,718,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of COLB. First Pacific Financial acquired a new position in Columbia Banking System during the 4th quarter worth about $40,000. Headlands Technologies LLC acquired a new position in Columbia Banking System during the 4th quarter worth about $42,000. GAMMA Investing LLC acquired a new position in Columbia Banking System during the 4th quarter worth about $48,000. Cerity Partners LLC acquired a new position in Columbia Banking System during the 4th quarter worth about $59,000. Finally, Quadrant Capital Group LLC lifted its holdings 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 buying an additional 595 shares during the period. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Stock Performance

COLB stock opened at $18.93 on Monday. The stock’s 50 day simple moving average is $19.07 and its 200 day simple moving average is $20.94. Columbia Banking System, Inc. has a fifty-two week low of $17.08 and a fifty-two week high of $28.11. The company has a market cap of $3.96 billion, a P/E ratio of 8.12 and a beta of 0.67.

Columbia Banking System (NASDAQ:COLBGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.12. The business had revenue of $473.72 million for 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 firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.46 EPS. Equities analysts predict that Columbia Banking System, Inc. will post 2.44 earnings per share for the current year.

Columbia Banking System Announces Dividend

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

Analyst Ratings Changes

Several brokerages have commented on COLB. DA Davidson cut their target price on Columbia Banking System from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, March 13th. Keefe, Bruyette & Woods dropped their price objective on Columbia Banking System from $25.00 to $23.00 and set a “market perform” rating on the stock in a research note on Friday, April 5th. Truist Financial dropped their price objective on Columbia Banking System from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Wells Fargo & Company dropped their price objective on Columbia Banking System from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 10th. Finally, Royal Bank of Canada dropped their price objective on Columbia Banking System from $25.00 to $21.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 9th. Twelve 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, Columbia Banking System has an average rating of “Hold” and a consensus target price of $22.04.

Get Our Latest Stock Report on Columbia Banking System

Columbia Banking System Company Profile

(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.

Further Reading

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

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