Cerity Partners LLC Has $1.44 Million Stake in Columbia Banking System, Inc. (NASDAQ:COLB)

Cerity Partners LLC trimmed its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 4.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,806 shares of the financial services provider’s stock after selling 2,863 shares during the quarter. Cerity Partners LLC’s holdings in Columbia Banking System were worth $1,442,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. raised its position in shares of Columbia Banking System by 0.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 12,625,834 shares of the financial services provider’s stock worth $341,024,000 after acquiring an additional 33,477 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Columbia Banking System by 10.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,514,816 shares of the financial services provider’s stock valued at $148,956,000 after purchasing an additional 512,542 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Columbia Banking System by 9.3% in the fourth quarter. Invesco Ltd. now owns 2,456,964 shares of the financial services provider’s stock valued at $66,363,000 after buying an additional 209,774 shares during the period. Norges Bank acquired a new position in Columbia Banking System in the 4th quarter worth $65,249,000. Finally, Epoch Investment Partners Inc. grew its holdings in shares of Columbia Banking System by 1.9% during the fourth quarter. Epoch Investment Partners Inc. now owns 2,386,773 shares of the financial services provider’s stock worth $64,467,000 after buying an additional 44,278 shares in the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Columbia Banking System Trading Down 0.6%

Shares of NASDAQ COLB opened at $24.21 on Tuesday. The company has a 50-day moving average of $23.95 and a 200 day moving average of $24.82. Columbia Banking System, Inc. has a 12-month low of $19.61 and a 12-month high of $32.85. The stock has a market cap of $5.09 billion, a PE ratio of 10.26 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. Columbia Banking System had a net margin of 16.85% and a return on equity of 11.12%. The business had revenue of $481.92 million during the quarter, compared to the consensus estimate of $482.86 million. During the same quarter last year, the firm earned $0.65 EPS. The business’s revenue was up 3.7% compared to the same quarter last year. On average, sell-side analysts forecast that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were paid a $0.36 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.44 annualized dividend and a dividend yield of 5.95%. Columbia Banking System’s dividend payout ratio (DPR) is 61.02%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Piper Sandler lowered their price objective on shares of Columbia Banking System from $32.00 to $30.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Wall Street Zen initiated coverage on Columbia Banking System in a research note on Thursday, May 22nd. They set a “hold” rating on the stock. Barclays lowered their price objective on Columbia Banking System from $32.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 8th. JPMorgan Chase & Co. cut their target price on Columbia Banking System from $26.50 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, July 1st. Finally, Royal Bank Of Canada lowered their price objective on shares of Columbia Banking System from $32.00 to $27.00 and set a “sector perform” rating for the company in a research report on Thursday, April 24th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Columbia Banking System presently has an average rating of “Hold” and a consensus target price of $28.79.

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.