CWC Advisors LLC. Makes New Investment in Columbia Banking System, Inc. (NASDAQ:COLB)

CWC Advisors LLC. bought a new position in Columbia Banking System, Inc. (NASDAQ:COLB) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 9,226 shares of the financial services provider’s stock, valued at approximately $241,000.

Other large investors have also added to or reduced their stakes in the company. Picton Mahoney Asset Management bought a new position in Columbia Banking System in the 2nd quarter worth about $33,000. Abich Financial Wealth Management LLC boosted its stake in Columbia Banking System by 85.1% in the 1st quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 1,020 shares during the period. GAMMA Investing LLC boosted its stake in Columbia Banking System by 144.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 1,387 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Columbia Banking System by 111.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 1,380 shares during the period. Finally, Hexagon Capital Partners LLC boosted its stake in Columbia Banking System by 137,166.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 4,118 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 4,115 shares during the period. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Trading Down 1.3 %

Shares of NASDAQ COLB opened at $27.90 on Friday. Columbia Banking System, Inc. has a 12 month low of $17.08 and a 12 month high of $28.62. The firm has a market capitalization of $5.84 billion, a PE ratio of 11.97 and a beta of 0.64. The firm has a fifty day simple moving average of $25.49 and a two-hundred day simple moving average of $22.21.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.62 by $0.07. Columbia Banking System had a net margin of 15.94% and a return on equity of 10.89%. The business had revenue of $765.06 million during the quarter, compared to analyst estimates of $478.80 million. During the same period in the prior year, the business earned $0.79 EPS. On average, sell-side analysts predict that Columbia Banking System, Inc. will post 2.55 earnings per share for the current year.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 23rd were paid a $0.36 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.44 annualized dividend and a dividend yield of 5.16%. Columbia Banking System’s payout ratio is 61.80%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on COLB. Wedbush lifted their price target on Columbia Banking System from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Friday. Royal Bank of Canada lifted their price target on Columbia Banking System from $29.00 to $31.00 and gave the company a “sector perform” rating in a research report on Friday. Truist Financial decreased their price objective on Columbia Banking System from $29.00 to $28.00 and set a “hold” rating on the stock in a report on Friday, September 20th. Raymond James raised their price objective on Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company raised their price objective on Columbia Banking System from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Friday. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $26.96.

Columbia Banking System Company 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.