Universal Beteiligungs und Servicegesellschaft mbH Raises Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Columbia Banking System by 19.0%, now owning 321,830 shares worth approximately $8.03 million.
• Columbia Banking System's latest quarterly earnings report revealed $0.76 EPS, surpassing estimates and showcasing an 8.2% year-over-year revenue growth.
• Despite recent analyst downgrades, Columbia Banking System maintains a consensus price target of $28.79 and an average rating of "Hold" from twelve analysts.

Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 19.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 321,830 shares of the financial services provider's stock after acquiring an additional 51,300 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.15% of Columbia Banking System worth $8,026,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd acquired a new position in Columbia Banking System during the 4th quarter worth $29,000. UMB Bank n.a. lifted its holdings in shares of Columbia Banking System by 141.3% in the 1st quarter. UMB Bank n.a. now owns 1,636 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 958 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Columbia Banking System in the 4th quarter valued at about $42,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Columbia Banking System in the 4th quarter valued at about $42,000. Finally, Financial Harvest LLC purchased a new stake in shares of Columbia Banking System in the 1st quarter valued at about $53,000. Institutional investors and hedge funds own 92.53% of the company's stock.

Analyst Ratings Changes

COLB has been the subject of several analyst reports. Barclays upped their price objective on Columbia Banking System from $27.00 to $30.00 and gave the company an "equal weight" rating in a research note on Monday. Wells Fargo & Company upped their price objective on Columbia Banking System from $27.00 to $28.00 and gave the company an "equal weight" rating in a research note on Tuesday. Wall Street Zen began coverage on Columbia Banking System in a research report on Thursday, May 22nd. They set a "hold" rating on the stock. Piper Sandler increased their target price on Columbia Banking System from $30.00 to $32.00 and gave the stock an "overweight" rating in a research note on Monday. Finally, Raymond James Financial set a $27.00 target price on Columbia Banking System and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $28.93.

Columbia Banking System Stock Down 1.9%

Shares of COLB traded down $0.47 on Wednesday, reaching $23.88. The stock had a trading volume of 1,857,288 shares, compared to its average volume of 2,641,395. The firm has a market capitalization of $5.02 billion, a PE ratio of 9.48 and a beta of 0.62. The firm has a 50-day moving average of $23.84 and a 200 day moving average of $24.70. Columbia Banking System, Inc. has a twelve month low of $19.61 and a twelve month high of $32.85.

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

Columbia Banking System Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 6.03%. The ex-dividend date was Friday, May 30th. Columbia Banking System's dividend payout ratio (DPR) is presently 57.14%.

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.