Freestone Capital Holdings LLC Buys Shares of 17,461 Columbia Banking System, Inc. (NASDAQ:COLB)

Freestone Capital Holdings LLC acquired a new stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 17,461 shares of the financial services provider’s stock, valued at approximately $338,000.

Several other hedge funds also recently bought and sold shares of COLB. Headlands Technologies LLC purchased a new stake in shares of Columbia Banking System during the 4th quarter valued at about $42,000. GAMMA Investing LLC bought a new position in Columbia Banking System in the 4th quarter worth about $48,000. Fifth Third Bancorp grew its stake in Columbia Banking System by 113.4% in the 1st quarter. Fifth Third Bancorp now owns 1,970 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 1,047 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Columbia Banking System by 17.8% during the fourth quarter. Quadrant Capital Group LLC now owns 3,932 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 595 shares in the last quarter. Finally, TFO Wealth Partners LLC boosted its stake in shares of Columbia Banking System by 23,158.8% during the fourth quarter. TFO Wealth Partners LLC now owns 3,954 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 3,937 shares in the last quarter. Institutional investors own 92.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Truist Financial lowered their target price on shares of Columbia Banking System from $22.00 to $20.00 and set a “hold” rating for the company in a research note on Monday, April 1st. Stephens raised their target price on shares of Columbia Banking System from $22.00 to $26.00 and gave the stock an “equal weight” rating in a report on Friday. Barclays lifted their price objective on shares of Columbia Banking System from $21.00 to $24.00 and gave the company an “equal weight” rating in a report on Friday. Wells Fargo & Company lifted their price objective on shares of Columbia Banking System from $22.00 to $26.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $27.00 target price on shares of Columbia Banking System in a research report on Wednesday, June 5th. Twelve analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Columbia Banking System currently has an average rating of “Hold” and a consensus target price of $23.81.

Columbia Banking System Trading Up 11.6 %

COLB stock traded up $2.80 during trading on Friday, reaching $26.99. 5,077,370 shares of the stock were exchanged, compared to its average volume of 2,308,208. The business has a 50 day moving average price of $20.14 and a 200-day moving average price of $19.88. Columbia Banking System, Inc. has a 1 year low of $17.08 and a 1 year high of $28.11. The firm has a market capitalization of $5.65 billion, a price-to-earnings ratio of 11.58 and a beta of 0.66.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $472.15 million for the quarter, compared to the consensus estimate of $476.01 million. Columbia Banking System had a net margin of 15.94% and a return on equity of 10.95%. Columbia Banking System’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.81 earnings per share. On average, research analysts anticipate that Columbia Banking System, Inc. will post 2.44 EPS for the current year.

Columbia Banking System Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 24th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.34%. The ex-dividend date of this dividend was Thursday, May 23rd. Columbia Banking System’s dividend payout ratio (DPR) is 61.80%.

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.