Columbia Banking System, Inc. (NASDAQ:COLB) Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC boosted its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 2.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 125,545 shares of the financial services provider’s stock after buying an additional 3,271 shares during the period. Janney Montgomery Scott LLC’s holdings in Columbia Banking System were worth $3,131,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd acquired a new stake in Columbia Banking System in the 4th quarter worth about $29,000. SBI Securities Co. Ltd. acquired a new position in shares of Columbia Banking System in the 4th quarter valued at about $32,000. Kapitalo Investimentos Ltda acquired a new position in shares of Columbia Banking System in the 4th quarter valued at about $42,000. Meeder Asset Management Inc. acquired a new position in shares of Columbia Banking System in the 4th quarter valued at about $42,000. Finally, UMB Bank n.a. lifted its stake 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 in the last quarter. 92.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

COLB has been the topic of several research analyst reports. Barclays lifted their price objective on 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. Keefe, Bruyette & Woods reduced their price objective on Columbia Banking System from $33.00 to $30.00 and set a “market perform” rating on the stock in a research note on Thursday, April 24th. Raymond James Financial set a $27.00 price objective on Columbia Banking System and gave the company an “outperform” rating in a research note on Thursday, April 24th. Wall Street Zen began coverage on Columbia Banking System in a research note on Thursday, May 22nd. They issued a “hold” rating on the stock. Finally, Wells Fargo & Company raised their target price on Columbia Banking System from $26.00 to $29.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Columbia Banking System presently has a consensus rating of “Hold” and a consensus price target of $29.71.

Columbia Banking System Stock Up 0.7%

COLB stock opened at $23.06 on Wednesday. Columbia Banking System, Inc. has a 52-week low of $18.41 and a 52-week high of $32.85. The stock’s 50 day moving average is $23.42 and its two-hundred day moving average is $25.29. The company has a market capitalization of $4.85 billion, a PE ratio of 9.77 and a beta of 0.63.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $482.86 million. During the same period in the previous year, the business earned $0.65 EPS. Columbia Banking System’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Announces Dividend

The firm also recently disclosed 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. The ex-dividend date was Friday, May 30th. This represents a $1.44 annualized dividend and a yield of 6.24%. Columbia Banking System’s dividend payout ratio is presently 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.