Segall Bryant & Hamill LLC Sells 34,775 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Segall Bryant & Hamill LLC trimmed its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 2.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,474,244 shares of the financial services provider's stock after selling 34,775 shares during the period. Segall Bryant & Hamill LLC owned approximately 0.70% of Columbia Banking System worth $36,768,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in COLB. T. Rowe Price Investment Management Inc. increased its position in shares of Columbia Banking System by 0.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 12,625,834 shares of the financial services provider's stock valued at $341,024,000 after purchasing an additional 33,477 shares during the period. American Century Companies Inc. increased its holdings in Columbia Banking System by 0.8% in the 4th quarter. American Century Companies Inc. now owns 7,602,571 shares of the financial services provider's stock valued at $205,345,000 after buying an additional 61,242 shares during the period. Dimensional Fund Advisors LP increased its holdings in Columbia Banking System by 10.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,514,816 shares of the financial services provider's stock valued at $148,956,000 after buying an additional 512,542 shares during the period. Invesco Ltd. raised its stake in shares of Columbia Banking System by 9.3% in the 4th quarter. Invesco Ltd. now owns 2,456,964 shares of the financial services provider's stock valued at $66,363,000 after buying an additional 209,774 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Columbia Banking System during the 4th quarter worth about $65,249,000. Institutional investors and hedge funds own 92.53% of the company's stock.

Columbia Banking System Trading Up 1.8%

Shares of Columbia Banking System stock traded up $0.43 during midday trading on Thursday, reaching $24.31. The company had a trading volume of 1,597,267 shares, compared to its average volume of 1,816,396. The stock has a fifty day simple moving average of $23.94 and a 200 day simple moving average of $24.89. Columbia Banking System, Inc. has a 1-year low of $19.61 and a 1-year high of $32.85. The company has a market capitalization of $5.11 billion, a price-to-earnings ratio of 10.30 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $481.92 million during the quarter, compared to the consensus estimate of $482.86 million. During the same quarter in the previous year, the company posted $0.65 earnings per share. The firm's quarterly revenue was up 3.7% on a year-over-year basis. Sell-side analysts expect that Columbia Banking System, Inc. will post 2.71 earnings per share 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. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.44 dividend on an annualized basis and a yield of 5.92%. Columbia Banking System's payout ratio is presently 61.02%.

Analyst Ratings Changes

Several research firms recently issued reports on COLB. Barclays dropped their price target 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, July 8th. DA Davidson raised their target price on Columbia Banking System from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 10th. Royal Bank Of Canada lowered their price target on Columbia Banking System from $32.00 to $27.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 24th. Piper Sandler cut 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. Finally, Wall Street Zen began coverage on shares of Columbia Banking System in a research note on Thursday, May 22nd. They issued a "hold" rating on the stock. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $28.79.

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.