D.A. Davidson & CO. Has $4.14 Million Position in Columbia Banking System, Inc. (NASDAQ:COLB)

D.A. Davidson & CO. grew its position in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 13.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 165,940 shares of the financial services provider's stock after acquiring an additional 19,692 shares during the period. D.A. Davidson & CO. owned about 0.08% of Columbia Banking System worth $4,139,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new position in shares of Columbia Banking System during the 4th quarter worth approximately $65,249,000. JPMorgan Chase & Co. boosted its position in shares of Columbia Banking System by 158.3% during the 4th quarter. JPMorgan Chase & Co. now owns 1,851,217 shares of the financial services provider's stock worth $50,001,000 after purchasing an additional 1,134,544 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Columbia Banking System during the 4th quarter worth approximately $22,476,000. Dimensional Fund Advisors LP boosted its position in shares of Columbia Banking System by 10.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,514,816 shares of the financial services provider's stock worth $148,956,000 after purchasing an additional 512,542 shares during the period. Finally, Deprince Race & Zollo Inc. boosted its position in shares of Columbia Banking System by 25.5% during the 4th quarter. Deprince Race & Zollo Inc. now owns 2,109,817 shares of the financial services provider's stock worth $56,986,000 after purchasing an additional 428,776 shares during the period. Institutional investors and hedge funds own 92.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Royal Bank Of Canada reduced their price objective on shares of Columbia Banking System from $32.00 to $27.00 and set a "sector perform" rating on the stock in a report on Thursday, April 24th. DA Davidson raised their price objective on shares of Columbia Banking System from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 10th. Wells Fargo & Company lifted their target price on shares of Columbia Banking System from $26.00 to $29.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Piper Sandler reduced their price objective on shares of Columbia Banking System from $32.00 to $30.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Finally, Barclays cut their price objective on shares of Columbia Banking System from $32.00 to $27.00 and set an "equal weight" rating for the company in a research report on Tuesday. Eleven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Columbia Banking System currently has a consensus rating of "Hold" and an average price target of $28.93.

Columbia Banking System Price Performance

COLB traded down $0.12 during trading on Wednesday, hitting $25.03. The company had a trading volume of 1,461,927 shares, compared to its average volume of 1,823,061. The company has a market cap of $5.26 billion, a PE ratio of 10.60 and a beta of 0.62. The business has a 50-day moving average of $23.78 and a 200-day moving average of $24.99. Columbia Banking System, Inc. has a 1-year low of $19.42 and a 1-year high of $32.85.

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

Columbia Banking System Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were given a dividend of $0.36 per share. The ex-dividend date was Friday, May 30th. This represents a $1.44 annualized dividend and a dividend yield of 5.75%. Columbia Banking System's dividend payout ratio is currently 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.