Columbia Banking System, Inc. $COLB Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 3.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,632 shares of the financial services provider’s stock after selling 920 shares during the period. State of Alaska Department of Revenue’s holdings in Columbia Banking System were worth $552,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State of Michigan Retirement System grew its stake in shares of Columbia Banking System by 1.0% during 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 period. Louisiana State Employees Retirement System boosted its position in Columbia Banking System by 0.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 58,700 shares of the financial services provider’s stock valued at $1,464,000 after buying an additional 500 shares during the last quarter. Xponance Inc. boosted its position in Columbia Banking System by 2.2% in the 1st quarter. Xponance Inc. now owns 24,313 shares of the financial services provider’s stock valued at $606,000 after buying an additional 517 shares during the last quarter. Sippican Capital Advisors raised its stake in shares of Columbia Banking System by 0.5% in the 1st quarter. Sippican Capital Advisors now owns 108,027 shares of the financial services provider’s stock valued at $2,694,000 after purchasing an additional 540 shares in the last quarter. Finally, Mengis Capital Management Inc. raised its stake in shares of Columbia Banking System by 1.2% in the 1st quarter. Mengis Capital Management Inc. now owns 49,982 shares of the financial services provider’s stock valued at $1,247,000 after purchasing an additional 572 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

COLB has been the subject of several recent analyst reports. Barclays decreased their target price on shares of Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Wednesday. Zacks Research cut shares of Columbia Banking System from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Wells Fargo & Company upped their price target on shares of Columbia Banking System from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 29th. Piper Sandler increased their target price on shares of Columbia Banking System from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 2nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Columbia Banking System in a research note on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $29.20.

Columbia Banking System Trading Down 2.1%

Shares of NASDAQ COLB opened at $25.64 on Thursday. 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 $5.39 billion, a PE ratio of 10.17 and a beta of 0.60. The company has a 50-day moving average of $25.87 and a two-hundred day moving average of $24.38.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly 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. The company had revenue of $511.55 million during 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 revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.67 EPS. As a group, equities 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 declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend was Friday, August 29th. Columbia Banking System’s dividend payout ratio is 57.14%.

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.