Columbia Banking System, Inc. $COLB Position Increased by Gilman Hill Asset Management LLC

Key Points

• Gilman Hill Asset Management LLC increased its holdings in Columbia Banking System, acquiring an additional 10,853 shares, bringing its total ownership to 287,427 shares, valued at approximately $6.72 million.
• Columbia Banking System reported a quarterly earnings per share (EPS) of $0.76, surpassing analysts' expectations and showing an 8.2% increase in revenue year-over-year.
• The company recently declared a quarterly dividend of $0.36 per share, yielding 5.7%, with a payout ratio of 57.14%.

Gilman Hill Asset Management LLC increased its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 3.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 287,427 shares of the financial services provider's stock after purchasing an additional 10,853 shares during the period. Gilman Hill Asset Management LLC owned 0.14% of Columbia Banking System worth $6,720,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of COLB. T. Rowe Price Investment Management Inc. increased its holdings in shares of Columbia Banking System by 0.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 12,742,629 shares of the financial services provider's stock valued at $317,802,000 after purchasing an additional 116,795 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Columbia Banking System by 4.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,667,271 shares of the financial services provider's stock valued at $191,222,000 after acquiring an additional 351,375 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Columbia Banking System by 18.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,527,612 shares of the financial services provider's stock valued at $162,791,000 after acquiring an additional 1,012,796 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Columbia Banking System by 221.3% during the 1st quarter. JPMorgan Chase & Co. now owns 5,947,950 shares of the financial services provider's stock valued at $148,342,000 after acquiring an additional 4,096,733 shares in the last quarter. Finally, Epoch Investment Partners Inc. increased its holdings in Columbia Banking System by 13.3% during the 1st quarter. Epoch Investment Partners Inc. now owns 2,703,761 shares of the financial services provider's stock valued at $67,432,000 after acquiring an additional 316,988 shares in the last quarter. Hedge funds and other institutional investors own 92.53% of the company's stock.

Columbia Banking System Price Performance

Shares of NASDAQ:COLB traded down $0.36 during midday trading on Friday, reaching $26.55. The company had a trading volume of 14,335,819 shares, compared to its average volume of 5,858,149. The stock's fifty day moving average price is $25.40 and its 200-day moving average price is $24.24. The stock has a market capitalization of $5.58 billion, a P/E ratio of 10.54 and a beta of 0.66. Columbia Banking System, Inc. has a one year low of $19.61 and a one year high of $32.85.

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

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date was Friday, August 29th. Columbia Banking System's payout ratio is 57.14%.

Analyst Upgrades and Downgrades

COLB has been the topic of several analyst reports. Piper Sandler raised their price target on shares of Columbia Banking System from $32.00 to $35.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Wells Fargo & Company raised their price target on shares of Columbia Banking System from $27.00 to $28.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Zacks Research cut shares of Columbia Banking System from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 16th. DA Davidson raised their price target on shares of Columbia Banking System from $25.00 to $26.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. Finally, Barclays raised their price target on shares of Columbia Banking System from $27.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $29.36.

About Columbia Banking System

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.