232,139 Shares in Columbia Banking System, Inc. (NASDAQ:COLB) Acquired by Cerity Partners LLC

Cerity Partners LLC bought a new stake in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 232,139 shares of the financial services provider's stock, valued at approximately $59,000. Cerity Partners LLC owned approximately 0.11% of Columbia Banking System as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Treasurer of the State of North Carolina raised its stake in Columbia Banking System by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 91,302 shares of the financial services provider's stock valued at $1,853,000 after buying an additional 460 shares in the last quarter. Caprock Group LLC raised its position in shares of Columbia Banking System by 2.3% during the 4th quarter. Caprock Group LLC now owns 34,684 shares of the financial services provider's stock valued at $925,000 after acquiring an additional 781 shares in the last quarter. Arizona State Retirement System lifted its stake in Columbia Banking System by 1.4% during the third quarter. Arizona State Retirement System now owns 59,354 shares of the financial services provider's stock worth $1,205,000 after purchasing an additional 808 shares during the last quarter. Essex Financial Services Inc. boosted its holdings in Columbia Banking System by 6.5% in the third quarter. Essex Financial Services Inc. now owns 17,270 shares of the financial services provider's stock worth $351,000 after purchasing an additional 1,055 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Columbia Banking System by 1,506.8% during the third quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider's stock worth $29,000 after purchasing an additional 1,326 shares during the period. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Columbia Banking System Trading Up 3.8 %

COLB stock traded up $0.72 on Wednesday, hitting $19.53. 3,074,559 shares of the company's stock traded hands, compared to its average volume of 2,890,453. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of 8.19 and a beta of 0.71. Columbia Banking System, Inc. has a 1-year low of $17.08 and a 1-year high of $28.11. The stock has a fifty day moving average of $18.53 and a 200-day moving average of $21.15.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.12. Columbia Banking System had a return on equity of 11.58% and a net margin of 16.52%. The business had revenue of $473.72 million for the quarter, compared to analysts' expectations of $480.39 million. During the same period in the previous year, the firm posted $0.46 EPS. The company's quarterly revenue was up 10.3% on a year-over-year basis. On average, equities research analysts anticipate that Columbia Banking System, Inc. will post 2.32 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 23rd were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 7.37%. The ex-dividend date was Thursday, February 22nd. Columbia Banking System's dividend payout ratio (DPR) is currently 61.80%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on COLB shares. DA Davidson dropped their price objective on shares of Columbia Banking System from $25.00 to $20.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 13th. TheStreet lowered Columbia Banking System from a "b-" rating to a "c+" rating in a research report on Thursday, February 22nd. Stephens downgraded shares of Columbia Banking System from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $31.00 to $24.00 in a report on Thursday, January 25th. Piper Sandler dropped their price target on shares of Columbia Banking System from $36.00 to $29.00 and set an "overweight" rating on the stock in a research note on Thursday, January 25th. Finally, Truist Financial reduced their price objective on Columbia Banking System from $22.00 to $20.00 and set a "hold" rating for the company in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $22.19.

Insider Activity

In other news, Director Elizabeth Whitehead Seaton bought 2,685 shares of the business's stock in a transaction on Tuesday, February 6th. The shares were bought at an average cost of $18.48 per share, with a total value of $49,618.80. Following the purchase, the director now directly owns 25,001 shares in the company, valued at $462,018.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Columbia Banking System news, Director Elizabeth Whitehead Seaton bought 2,685 shares of the stock in a transaction on Tuesday, February 6th. The shares were bought at an average price of $18.48 per share, with a total value of $49,618.80. Following the purchase, the director now directly owns 25,001 shares in the company, valued at approximately $462,018.48. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Aaron James Deer purchased 2,000 shares of the firm's stock in a transaction that occurred on Thursday, February 1st. The shares were bought at an average price of $19.32 per share, with a total value of $38,640.00. Following the completion of the acquisition, the insider now owns 36,850 shares of the company's stock, valued at approximately $711,942. The disclosure for this purchase can be found here. 0.62% of the stock is owned by company insiders.

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.