Columbia Banking System, Inc. $COLB Shares Purchased by Hunter Perkins Capital Management LLC

Hunter Perkins Capital Management LLC increased its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 24.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 245,237 shares of the financial services provider's stock after purchasing an additional 47,386 shares during the period. Columbia Banking System accounts for approximately 1.4% of Hunter Perkins Capital Management LLC's investment portfolio, making the stock its 26th biggest position. Hunter Perkins Capital Management LLC owned approximately 0.12% of Columbia Banking System worth $5,734,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State of Michigan Retirement System grew its stake in Columbia Banking System by 1.0% during the 1st quarter. State of Michigan Retirement System now owns 50,141 shares of the financial services provider's stock valued at $1,251,000 after acquiring an additional 500 shares in the last quarter. Louisiana State Employees Retirement System raised its position in Columbia Banking System by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 58,700 shares of the financial services provider's stock valued at $1,464,000 after purchasing an additional 500 shares during the period. Xponance Inc. lifted its stake in Columbia Banking System by 2.2% during the 1st quarter. Xponance Inc. now owns 24,313 shares of the financial services provider's stock worth $606,000 after acquiring an additional 517 shares in the last quarter. Sippican Capital Advisors lifted its position in shares of Columbia Banking System by 0.5% during the first quarter. Sippican Capital Advisors now owns 108,027 shares of the financial services provider's stock worth $2,694,000 after purchasing an additional 540 shares in the last quarter. Finally, Mengis Capital Management Inc. raised its position in Columbia Banking System by 1.2% in the 1st quarter. Mengis Capital Management Inc. now owns 49,982 shares of the financial services provider's stock valued at $1,247,000 after purchasing an additional 572 shares in the last quarter. Institutional investors and hedge funds own 92.53% of the company's stock.

Analyst Ratings Changes

COLB has been the topic of a number of research analyst reports. Zacks Research cut Columbia Banking System from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 16th. Citigroup restated a "neutral" rating and issued a $26.00 price target (up previously from $22.00) on shares of Columbia Banking System in a research report on Monday, July 28th. DA Davidson upped their price objective on Columbia Banking System from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Tuesday, June 10th. Weiss Ratings restated a "hold (c)" rating on shares of Columbia Banking System in a report on Saturday, September 27th. Finally, TD Cowen started coverage on shares of Columbia Banking System in a report on Thursday, September 25th. They set a "hold" rating and a $28.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, Columbia Banking System currently has a consensus rating of "Hold" and an average target price of $29.27.

Columbia Banking System Price Performance

Shares of COLB stock opened at $26.41 on Monday. The firm has a fifty day moving average of $25.75 and a two-hundred day moving average of $24.34. Columbia Banking System, Inc. has a 1-year low of $19.61 and a 1-year high of $32.85. The firm has a market cap of $5.55 billion, a P/E ratio of 10.48 and a beta of 0.60.

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

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was Friday, August 29th. Columbia Banking System's dividend payout ratio is presently 57.14%.

Columbia Banking System 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.

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