Teacher Retirement System of Texas Sells 8,059 Shares of Columbia Banking System, Inc. $COLB

Teacher Retirement System of Texas decreased its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 13.0% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 53,931 shares of the financial services provider’s stock after selling 8,059 shares during the quarter. Teacher Retirement System of Texas’ holdings in Columbia Banking System were worth $1,261,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Geneos Wealth Management Inc. lifted its stake in shares of Columbia Banking System by 194.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock valued at $30,000 after buying an additional 794 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Columbia Banking System during the 1st quarter valued at $37,000. Bessemer Group Inc. lifted its stake in shares of Columbia Banking System by 53.5% during the 2nd quarter. Bessemer Group Inc. now owns 1,790 shares of the financial services provider’s stock valued at $42,000 after buying an additional 624 shares in the last quarter. Financial Harvest LLC purchased a new position in shares of Columbia Banking System during the 1st quarter valued at $53,000. Finally, UMB Bank n.a. lifted its stake in shares of Columbia Banking System by 38.1% during the 2nd quarter. UMB Bank n.a. now owns 2,259 shares of the financial services provider’s stock valued at $53,000 after buying an additional 623 shares in the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Columbia Banking System Price Performance

Columbia Banking System stock opened at $26.52 on Thursday. Columbia Banking System, Inc. has a 1-year low of $19.61 and a 1-year high of $32.85. The firm has a market capitalization of $5.58 billion, a P/E ratio of 10.52 and a beta of 0.60. The company’s 50-day moving average is $26.08 and its 200 day moving average is $24.81.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Monday, March 4th. The financial services provider reported $0.76 earnings per share for the quarter. Columbia Banking System had a net margin of 17.98% and a return on equity of 11.31%. The company had revenue of $348.47 million for the quarter. Research analysts anticipate that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend was Friday, August 29th. Columbia Banking System’s dividend payout ratio is 64.86%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on COLB. Zacks Research cut shares of Columbia Banking System from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. JPMorgan Chase & Co. boosted their price target on shares of Columbia Banking System from $28.00 to $31.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Piper Sandler set a $33.00 price target on shares of Columbia Banking System in a research note on Monday. Cowen began coverage on shares of Columbia Banking System in a research note on Wednesday, September 24th. They issued a “hold” rating on the stock. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Columbia Banking System in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Columbia Banking System presently has an average rating of “Hold” and a consensus target price of $29.38.

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.