Vestmark Advisory Solutions Inc. acquired a new stake in Columbia Banking System, Inc. (NASDAQ:COLB – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 10,922 shares of the financial services provider’s stock, valued at approximately $234,000.
A number of other hedge funds have also recently added to or reduced their stakes in COLB. IFP Advisors Inc grew its holdings in shares of Columbia Banking System by 203.2% during the fourth quarter. IFP Advisors Inc now owns 473 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 317 shares during the last quarter. LPL Financial LLC grew its holdings in Columbia Banking System by 1.9% during the 4th quarter. LPL Financial LLC now owns 17,685 shares of the financial services provider’s stock worth $533,000 after acquiring an additional 323 shares during the last quarter. BNP Paribas Arbitrage SNC increased its position in Columbia Banking System by 0.9% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 37,012 shares of the financial services provider’s stock valued at $1,069,000 after acquiring an additional 337 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in shares of Columbia Banking System by 2.2% during the third quarter. Mercer Global Advisors Inc. ADV now owns 16,825 shares of the financial services provider’s stock valued at $486,000 after acquiring an additional 362 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Columbia Banking System by 5.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,422 shares of the financial services provider’s stock worth $284,000 after purchasing an additional 460 shares during the period. Institutional investors and hedge funds own 88.71% of the company’s stock.
Columbia Banking System Trading Up 0.5 %
Shares of NASDAQ COLB opened at $19.63 on Friday. The firm has a market capitalization of $4.09 billion, a P/E ratio of 8.69 and a beta of 0.67. The firm’s 50-day moving average price is $21.53 and its 200-day moving average price is $23.10. Columbia Banking System, Inc. has a 1-year low of $17.54 and a 1-year high of $35.53.
Columbia Banking System Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Friday, August 25th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 7.34%. The ex-dividend date is Thursday, August 24th. Columbia Banking System’s dividend payout ratio is currently 63.72%.
Insider Activity at Columbia Banking System
In other Columbia Banking System news, Director Craig D. Eerkes acquired 2,381 shares of the company’s stock in a transaction on Wednesday, May 24th. The shares were purchased at an average cost of $21.01 per share, with a total value of $50,024.81. Following the completion of the purchase, the director now owns 29,022 shares of the company’s stock, valued at $609,752.22. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.62% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
COLB has been the subject of several analyst reports. Stephens lowered their target price on Columbia Banking System from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, July 20th. StockNews.com assumed coverage on Columbia Banking System in a research report on Thursday. They set a “sell” rating for the company. Wedbush reiterated a “neutral” rating and issued a $24.00 target price on shares of Columbia Banking System in a report on Thursday, July 20th. UBS Group lowered shares of Columbia Banking System from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $21.50 to $18.50 in a report on Monday, July 10th. Finally, Piper Sandler decreased their price objective on shares of Columbia Banking System from $32.00 to $29.00 in a research report on Wednesday, May 3rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Columbia Banking System currently has a consensus rating of “Hold” and an average target price of $25.17.
Check Out Our Latest Stock Report on COLB
About Columbia Banking System
Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides commercial and retail banking services. The company offers deposit products, including interest-bearing checking, savings, money market, and certificate of deposit accounts. It also provides home mortgages for purchases and refinances, home equity loans and lines of credit, and other personal loans; and agricultural loans, asset-based loans, builder and other commercial real estate loans, and loans guaranteed by the SBA, as well as offer a suite of business edge loans designed for small businesses to expand, purchase equipment, or in need of working capital.
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