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

Stieven Capital Advisors L.P. decreased 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 Form 13F filing with the Securities & 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 makes up approximately 4.6% of Stieven Capital Advisors L.P.'s portfolio, making the stock its 3rd biggest position. Stieven Capital Advisors L.P. owned approximately 0.45% of Columbia Banking System worth $23,814,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new stake in Columbia Banking System during the fourth quarter worth approximately $29,000. Kapitalo Investimentos Ltda purchased a new stake in Columbia Banking System during the fourth quarter worth approximately $42,000. Meeder Asset Management Inc. purchased a new stake in Columbia Banking System during the fourth quarter worth approximately $42,000. UMB Bank n.a. lifted its stake in 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 worth $41,000 after purchasing an additional 958 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Columbia Banking System by 34.5% during the first quarter. GAMMA Investing LLC now owns 5,331 shares of the financial services provider's stock worth $133,000 after buying an additional 1,368 shares during the period. Hedge funds and other institutional investors own 92.53% of the company's stock.

Columbia Banking System Stock Down 4.4%

Shares of NASDAQ COLB traded down $1.10 during midday trading on Tuesday, hitting $23.83. The company had a trading volume of 2,094,747 shares, compared to its average volume of 1,821,728. Columbia Banking System, Inc. has a twelve month low of $19.61 and a twelve month high of $32.85. The business has a 50-day simple moving average of $23.89 and a two-hundred day simple moving average of $24.92. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of 10.10 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. Columbia Banking System had a net margin of 16.85% and a return on equity of 11.12%. The firm had revenue of $481.92 million during the quarter, compared to analysts' expectations of $482.86 million. During the same quarter last year, the business earned $0.65 earnings per share. The business's revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities analysts forecast that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 6.04%. The ex-dividend date was Friday, May 30th. Columbia Banking System's payout ratio is currently 61.02%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wells Fargo & Company cut shares of Columbia Banking System from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $29.00 to $27.00 in a report on Thursday, July 10th. Piper Sandler cut their target price on shares of Columbia Banking System from $32.00 to $30.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. DA Davidson lifted their target price on shares of Columbia Banking System from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. Jefferies Financial Group assumed coverage on shares of Columbia Banking System in a report on Wednesday, May 21st. They issued a "hold" rating and a $27.00 target price on the stock. Finally, Raymond James Financial set a $27.00 target price on shares of Columbia Banking System and gave the company an "outperform" rating in a report on Thursday, April 24th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $28.79.

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.