Columbia Banking System, Inc. (NASDAQ:COLB) is Stieven Capital Advisors L.P.'s 3rd Largest Position

Stieven Capital Advisors L.P. reduced its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 954,832 shares of the financial services provider's stock after selling 17,900 shares during the quarter. Columbia Banking System accounts for about 4.6% of Stieven Capital Advisors L.P.'s investment portfolio, making the stock its 3rd largest holding. Stieven Capital Advisors L.P. owned about 0.45% of Columbia Banking System worth $23,814,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in COLB. M&T Bank Corp boosted its stake in shares of Columbia Banking System by 10.5% during the 4th quarter. M&T Bank Corp now owns 13,106 shares of the financial services provider's stock valued at $354,000 after buying an additional 1,247 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Columbia Banking System during the 4th quarter valued at approximately $296,000. Raymond James Financial Inc. purchased a new position in shares of Columbia Banking System during the 4th quarter valued at approximately $22,476,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Columbia Banking System by 22.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,864 shares of the financial services provider's stock valued at $1,536,000 after buying an additional 10,473 shares during the last quarter. Finally, HighTower Advisors LLC boosted its stake in shares of Columbia Banking System by 19.9% during the 4th quarter. HighTower Advisors LLC now owns 15,811 shares of the financial services provider's stock valued at $427,000 after buying an additional 2,625 shares during the last quarter. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COLB has been the topic of several research reports. Wall Street Zen initiated coverage on Columbia Banking System in a research report on Thursday, May 22nd. They set a "hold" rating on the stock. Wells Fargo & Company lowered Columbia Banking System from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $29.00 to $27.00 in a research report on Thursday. Keefe, Bruyette & Woods dropped their price target on Columbia Banking System from $33.00 to $30.00 and set a "market perform" rating on the stock in a research report on Thursday, April 24th. JPMorgan Chase & Co. dropped their price target on Columbia Banking System from $26.50 to $24.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 1st. Finally, Piper Sandler dropped their price target on Columbia Banking System from $32.00 to $30.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Columbia Banking System presently has an average rating of "Hold" and a consensus target price of $28.79.

Columbia Banking System Price Performance

Shares of NASDAQ COLB opened at $24.75 on Friday. Columbia Banking System, Inc. has a 1-year low of $19.61 and a 1-year high of $32.85. The business's fifty day moving average price is $23.89 and its two-hundred day moving average price is $24.96. The firm has a market capitalization of $5.20 billion, a PE ratio of 10.49 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The financial services provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.04. Columbia Banking System had a return on equity of 11.12% and a net margin of 16.85%. The firm had revenue of $481.92 million for the quarter, compared to analyst estimates of $482.86 million. During the same period last year, the company earned $0.65 earnings per share. The firm's revenue for the quarter was up 3.7% on a year-over-year basis. Equities research analysts expect that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a $0.36 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.44 annualized dividend and a dividend yield of 5.82%. Columbia Banking System's payout ratio is 61.02%.

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.

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