Columbia Banking System, Inc. (NASDAQ:COLB) Shares Sold by Atlas Capital Advisors Inc.

Key Points

• Atlas Capital Advisors Inc. sold 10,998 shares of Columbia Banking System, reducing its holdings by 81.1%, leaving them with only 2,566 shares valued at approximately $64,000.
• Several institutional investors, including LPL Financial LLC and Federated Hermes Inc., have increased their stakes in Columbia Banking System, highlighting significant interest in the company among major financial players.
• Columbia Banking System announced a quarterly dividend of $0.36 per share, reflecting an annualized dividend of $1.44 and a 6.0% dividend yield.

Atlas Capital Advisors Inc. trimmed its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 81.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,566 shares of the financial services provider's stock after selling 10,998 shares during the quarter. Atlas Capital Advisors Inc.'s holdings in Columbia Banking System were worth $64,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in shares of Columbia Banking System by 221.3% in the first quarter. JPMorgan Chase & Co. now owns 5,947,950 shares of the financial services provider's stock valued at $148,342,000 after purchasing an additional 4,096,733 shares during the period. Raymond James Financial Inc. acquired a new position in Columbia Banking System during the fourth quarter worth about $22,476,000. LSV Asset Management boosted its position in Columbia Banking System by 81.5% during the first quarter. LSV Asset Management now owns 1,331,143 shares of the financial services provider's stock worth $33,199,000 after acquiring an additional 597,710 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Columbia Banking System by 10.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,514,816 shares of the financial services provider's stock worth $148,956,000 after acquiring an additional 512,542 shares during the last quarter. Finally, Deprince Race & Zollo Inc. boosted its position in Columbia Banking System by 25.5% during the fourth quarter. Deprince Race & Zollo Inc. now owns 2,109,817 shares of the financial services provider's stock worth $56,986,000 after acquiring an additional 428,776 shares during the last quarter. 92.53% of the stock is owned by hedge funds and other institutional investors.

Columbia Banking System Price Performance

Shares of COLB traded down $0.32 during midday trading on Friday, reaching $25.83. The stock had a trading volume of 941,250 shares, compared to its average volume of 1,961,064. Columbia Banking System, Inc. has a 1-year low of $19.61 and a 1-year high of $32.85. The company's fifty day simple moving average is $24.04 and its two-hundred day simple moving average is $24.41. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 10.24 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.76 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.10. Columbia Banking System had a net margin of 17.98% and a return on equity of 11.31%. 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 business earned $0.67 EPS. The company's revenue was up 8.2% on a year-over-year basis. On average, sell-side analysts forecast that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.6%. Columbia Banking System's dividend payout ratio (DPR) is 57.14%.

Analyst Ratings Changes

COLB has been the topic of a number of recent research reports. Wells Fargo & Company boosted their price target 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, July 29th. Piper Sandler lifted their target price 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, July 28th. DA Davidson lifted their target price on shares of Columbia Banking System from $25.00 to $26.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. Zacks Research raised shares of Columbia Banking System to a "strong-buy" rating in a research note on Monday. Finally, Wall Street Zen assumed coverage on shares of Columbia Banking System in a research note on Thursday, May 22nd. They set a "hold" rating on the stock. Eleven investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $28.86.

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.