Cwm LLC Has $256,000 Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

Cwm LLC decreased its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 23.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,272 shares of the financial services provider’s stock after selling 3,096 shares during the quarter. Cwm LLC’s holdings in Columbia Banking System were worth $256,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. State of Michigan Retirement System grew its position in shares of Columbia Banking System by 1.0% in the 1st quarter. State of Michigan Retirement System now owns 50,141 shares of the financial services provider’s stock valued at $1,251,000 after buying an additional 500 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of Columbia Banking System by 0.9% during the first quarter. Louisiana State Employees Retirement System now owns 58,700 shares of the financial services provider’s stock worth $1,464,000 after buying an additional 500 shares during the period. Xponance Inc. raised its stake in Columbia Banking System by 2.2% during the first quarter. Xponance Inc. now owns 24,313 shares of the financial services provider’s stock worth $606,000 after buying an additional 517 shares during the last quarter. Sippican Capital Advisors raised its stake in Columbia Banking System by 0.5% during the first quarter. Sippican Capital Advisors now owns 108,027 shares of the financial services provider’s stock worth $2,694,000 after buying an additional 540 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in Columbia Banking System by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 91,679 shares of the financial services provider’s stock valued at $2,476,000 after buying an additional 580 shares during the period. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Columbia Banking System Trading Up 6.3%

COLB opened at $24.82 on Friday. Columbia Banking System, Inc. has a 1-year low of $19.61 and a 1-year high of $32.85. The company has a market cap of $5.22 billion, a price-to-earnings ratio of 9.85 and a beta of 0.62. The company’s fifty day moving average price is $23.85 and its two-hundred day moving average price is $24.74.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, July 24th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.66 by $0.10. Columbia Banking System had a net margin of 17.98% and a return on equity of 11.39%. The company had revenue of $511.55 million during the quarter, compared to the consensus estimate of $492.00 million. During the same period in the previous year, the firm posted $0.67 earnings per share. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, equities analysts forecast that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.80%. The ex-dividend date of this dividend was Friday, May 30th. Columbia Banking System’s dividend payout ratio (DPR) is presently 57.14%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on COLB shares. Jefferies Financial Group assumed coverage on Columbia Banking System in a report on Wednesday, May 21st. They set a “hold” rating and a $27.00 price target for the company. Raymond James Financial set a $27.00 target price on Columbia Banking System and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Royal Bank Of Canada dropped their price target on Columbia Banking System from $32.00 to $27.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 24th. Piper Sandler lowered their price objective on shares of Columbia Banking System from $32.00 to $30.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Columbia Banking System from $26.50 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 1st. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Columbia Banking System has a consensus rating of “Hold” and a consensus price target of $28.79.

About Columbia Banking System

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.