BSW Wealth Partners Acquires Shares of 8,489 Columbia Banking System, Inc. (NASDAQ:COLB)

BSW Wealth Partners acquired a new position in Columbia Banking System, Inc. (NASDAQ:COLB) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,489 shares of the financial services provider’s stock, valued at approximately $222,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Picton Mahoney Asset Management purchased a new position in shares of Columbia Banking System during the 2nd quarter valued at approximately $33,000. Abich Financial Wealth Management LLC raised its position in shares of Columbia Banking System by 85.1% in the first quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 1,020 shares during the period. GAMMA Investing LLC boosted its stake in shares of Columbia Banking System by 144.0% during the 2nd quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 1,387 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Columbia Banking System by 111.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 1,380 shares during the period. Finally, Hexagon Capital Partners LLC increased its stake in shares of 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 valued at $82,000 after purchasing an additional 4,115 shares in the last quarter. 92.53% of the stock is owned by hedge funds and other institutional investors.

Columbia Banking System Trading Down 2.2 %

Shares of Columbia Banking System stock opened at $27.76 on Tuesday. Columbia Banking System, Inc. has a 12-month low of $17.08 and a 12-month high of $29.41. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 12.02 and a beta of 0.62. The company has a fifty day simple moving average of $25.96 and a 200-day simple moving average of $22.66.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.07. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. The business had revenue of $765.06 million during the quarter, compared to the consensus estimate of $478.80 million. During the same quarter in the prior year, the firm earned $0.79 earnings per share. On average, analysts forecast that Columbia Banking System, Inc. will post 2.6 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 23rd were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date of this dividend was Friday, August 23rd. Columbia Banking System’s dividend payout ratio is presently 62.34%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on COLB. StockNews.com upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Saturday, October 5th. Wedbush boosted their price target on shares of Columbia Banking System from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. reduced their target price on Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Raymond James lifted their target price on shares of Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, Barclays increased their price target on shares of Columbia Banking System from $25.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $27.12.

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.