D.A. Davidson & CO. Boosts Position in Columbia Banking System, Inc. (NASDAQ:COLB)

D.A. Davidson & CO. boosted its stake in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 13.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 165,940 shares of the financial services provider's stock after purchasing 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 reporting period.

A number of other large investors have also bought and sold shares of COLB. Arizona State Retirement System boosted its holdings in Columbia Banking System by 0.8% in the fourth quarter. Arizona State Retirement System now owns 60,758 shares of the financial services provider's stock worth $1,641,000 after acquiring an additional 469 shares in the last quarter. Sippican Capital Advisors boosted its holdings in Columbia Banking System by 0.5% in the first quarter. Sippican Capital Advisors now owns 108,027 shares of the financial services provider's stock worth $2,694,000 after acquiring an additional 540 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in Columbia Banking System by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 91,679 shares of the financial services provider's stock worth $2,476,000 after acquiring an additional 580 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Columbia Banking System by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 24,552 shares of the financial services provider's stock worth $612,000 after acquiring an additional 660 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in Columbia Banking System by 7.3% in the fourth quarter. ProShare Advisors LLC now owns 9,803 shares of the financial services provider's stock worth $265,000 after acquiring an additional 671 shares in the last quarter. 92.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on COLB shares. Piper Sandler reduced their price objective on Columbia Banking System from $32.00 to $30.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Jefferies Financial Group started coverage on shares of Columbia Banking System in a research note on Wednesday, May 21st. They set a "hold" rating and a $27.00 target price on the stock. Barclays upped their target price on shares of Columbia Banking System from $27.00 to $32.00 and gave the company an "equal weight" rating in a research note on Friday, April 25th. Wells Fargo & Company upped their target price on shares of Columbia Banking System from $26.00 to $29.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Finally, Royal Bank Of Canada lowered their target price on shares of Columbia Banking System from $32.00 to $27.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 24th. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $29.29.

Columbia Banking System Trading Up 1.5%

COLB stock traded up $0.38 during midday trading on Friday, reaching $25.45. The stock had a trading volume of 2,244,870 shares, compared to its average volume of 1,815,217. The company's fifty day simple moving average is $23.68 and its 200 day simple moving average is $25.01. The company has a market cap of $5.35 billion, a price-to-earnings ratio of 10.78 and a beta of 0.62. Columbia Banking System, Inc. has a 52-week low of $19.18 and a 52-week 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 EPS for the quarter, topping the consensus estimate of $0.63 by $0.04. The business had revenue of $481.92 million for the quarter, compared to analyst estimates of $482.86 million. Columbia Banking System had a return on equity of 11.12% and a net margin of 16.85%. The company's quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 EPS. Sell-side analysts predict that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 5.66%. The ex-dividend date of this dividend was Friday, May 30th. Columbia Banking System's dividend payout ratio is currently 61.02%.

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.