Farther Finance Advisors LLC Raises Stake in Columbia Banking System, Inc. $COLB

Farther Finance Advisors LLC raised its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 90.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,433 shares of the financial services provider’s stock after purchasing an additional 4,015 shares during the quarter. Farther Finance Advisors LLC’s holdings in Columbia Banking System were worth $197,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its holdings in Columbia Banking System by 194.6% during the first quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 794 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Columbia Banking System during the first quarter valued at approximately $37,000. UMB Bank n.a. lifted its holdings in Columbia Banking System by 141.3% during the first quarter. UMB Bank n.a. now owns 1,636 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 958 shares in the last quarter. Financial Harvest LLC purchased a new position in Columbia Banking System during the first quarter valued at approximately $53,000. Finally, Parallel Advisors LLC lifted its holdings in Columbia Banking System by 41.4% during the second quarter. Parallel Advisors LLC now owns 2,679 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 785 shares in the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Columbia Banking System Stock Performance

Shares of COLB opened at $25.96 on Thursday. The company’s fifty day moving average is $25.67 and its 200 day moving average is $24.33. Columbia Banking System, Inc. has a fifty-two week low of $19.61 and a fifty-two week high of $32.85. The stock has a market capitalization of $5.46 billion, a PE ratio of 10.30 and a beta of 0.60.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.10. The company had revenue of $511.55 million for the quarter, compared to analysts’ expectations of $492.00 million. Columbia Banking System had a net margin of 17.98% and a return on equity of 11.31%. Columbia Banking System’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.67 earnings per share. As a group, research analysts forecast that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend was Friday, August 29th. Columbia Banking System’s payout ratio is presently 57.14%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Zacks Research cut shares of Columbia Banking System from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. DA Davidson lifted their price objective on shares of Columbia Banking System from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, June 10th. JPMorgan Chase & Co. reduced their price objective 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. Piper Sandler lifted their price objective on shares of Columbia Banking System from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, September 2nd. Finally, Stephens upgraded shares of Columbia Banking System from an “equal weight” rating to an “overweight” rating and set a $30.00 price objective on the stock in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, Columbia Banking System currently has a consensus rating of “Hold” and a consensus price target of $29.27.

Columbia Banking System 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.