Cetera Investment Advisers Sells 21,255 Shares of Columbia Banking System, Inc. $COLB

Cetera Investment Advisers cut its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 18.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 94,585 shares of the financial services provider’s stock after selling 21,255 shares during the quarter. Cetera Investment Advisers’ holdings in Columbia Banking System were worth $2,211,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geneos Wealth Management Inc. boosted its position in 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 worth $30,000 after acquiring an additional 794 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Columbia Banking System in the first quarter worth $37,000. Bessemer Group Inc. boosted its holdings in Columbia Banking System by 53.5% during the second quarter. Bessemer Group Inc. now owns 1,790 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 624 shares during the last quarter. UMB Bank n.a. grew its position in Columbia Banking System by 38.1% in the second quarter. UMB Bank n.a. now owns 2,259 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 623 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in Columbia Banking System by 41.4% in the 2nd quarter. Parallel Advisors LLC now owns 2,679 shares of the financial services provider’s stock valued at $63,000 after buying an additional 785 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on COLB shares. Piper Sandler set a $33.00 price objective on shares of Columbia Banking System in a research note on Monday, November 3rd. Raymond James Financial raised Columbia Banking System from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $27.00 to $31.00 in a research report on Monday, September 15th. Zacks Research downgraded Columbia Banking System from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. JPMorgan Chase & Co. upped their price objective on Columbia Banking System from $28.00 to $31.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Finally, Keefe, Bruyette & Woods raised Columbia Banking System from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $30.00 to $31.00 in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $29.38.

Columbia Banking System Stock Down 2.0%

Shares of NASDAQ COLB opened at $27.79 on Friday. The business’s 50 day moving average price is $26.29 and its two-hundred day moving average price is $25.24. The company has a market cap of $8.31 billion, a PE ratio of 11.03 and a beta of 0.67. Columbia Banking System, Inc. has a twelve month low of $19.61 and a twelve month high of $31.61.

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

Columbia Banking System Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 5.3%. This is a positive change from Columbia Banking System’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, November 28th. Columbia Banking System’s dividend payout ratio (DPR) is presently 66.67%.

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.