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

Key Points

• Allium Financial Advisors LLC has bought a new stake in Columbia Banking System, Inc., acquiring 18,719 shares valued at approximately $467,000.
• Columbia Banking System reported earnings of $0.76 per share for the last quarter, exceeding analysts' expectations of $0.66 per share, with a year-over-year revenue increase of 8.2%.
• The company recently declared a quarterly dividend of $0.36 per share, reflecting an annualized yield of 5.80% and a payout ratio of 57.14%.

Allium Financial Advisors LLC purchased a new stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 18,719 shares of the financial services provider's stock, valued at approximately $467,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Aster Capital Management DIFC Ltd bought a new position in Columbia Banking System in the fourth quarter worth approximately $29,000. UMB Bank n.a. grew its holdings in shares of Columbia Banking System by 141.3% during the first quarter. UMB Bank n.a. now owns 1,636 shares of the financial services provider's stock valued at $41,000 after buying an additional 958 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Columbia Banking System in the fourth quarter valued at $42,000. Kapitalo Investimentos Ltda purchased a new stake in Columbia Banking System in the fourth quarter valued at $42,000. Finally, Financial Harvest LLC acquired a new position in shares of Columbia Banking System in the first quarter worth about $53,000. 92.53% of the stock is owned by institutional investors.

Columbia Banking System Price Performance

Shares of NASDAQ COLB traded up $0.00 during trading on Wednesday, reaching $24.35. 560,842 shares of the stock traded hands, compared to its average volume of 1,943,727. Columbia Banking System, Inc. has a 52-week low of $19.61 and a 52-week high of $32.85. The company has a 50-day moving average of $23.83 and a 200-day moving average of $24.71. The stock has a market capitalization of $5.12 billion, a P/E ratio of 9.67 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.10. Columbia Banking System had a return on equity of 11.31% and a net margin of 17.98%. The business had revenue of $511.55 million for the quarter, compared to analyst estimates of $492.00 million. During the same period last year, the company earned $0.67 EPS. Columbia Banking System's revenue for the quarter was up 8.2% compared to the same quarter last year. Analysts expect that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were issued a dividend of $0.36 per share. The ex-dividend date was Friday, May 30th. This represents a $1.44 annualized dividend and a yield of 5.91%. Columbia Banking System's payout ratio is currently 57.14%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Piper Sandler lifted their price target on shares of Columbia Banking System from $30.00 to $32.00 and gave the stock an "overweight" rating in a research note on Monday. Jefferies Financial Group began coverage on shares of Columbia Banking System in a research report on Wednesday, May 21st. They issued a "hold" rating and a $27.00 price objective for the company. Wells Fargo & Company increased their price objective on shares of Columbia Banking System from $27.00 to $28.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Citigroup restated a "neutral" rating and issued a $26.00 target price (up from $22.00) on shares of Columbia Banking System in a research note on Monday. Finally, Raymond James Financial set a $27.00 target price on shares of Columbia Banking System and gave the stock an "outperform" rating in a report on Thursday, April 24th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $28.93.

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.