Columbia Banking System, Inc. (NASDAQ:COLB) Shares Sold by Hunter Perkins Capital Management LLC

Hunter Perkins Capital Management LLC lowered its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 7.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 190,738 shares of the financial services provider’s stock after selling 15,645 shares during the quarter. Columbia Banking System makes up about 1.1% of Hunter Perkins Capital Management LLC’s holdings, making the stock its 28th largest holding. Hunter Perkins Capital Management LLC owned 0.09% of Columbia Banking System worth $5,152,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in shares of Columbia Banking System by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,109,253 shares of the financial services provider’s stock worth $185,623,000 after purchasing an additional 178,327 shares in the last quarter. Wellington Management Group LLP boosted its stake in Columbia Banking System by 31.9% during the 3rd quarter. Wellington Management Group LLP now owns 6,659,255 shares of the financial services provider’s stock worth $173,873,000 after purchasing an additional 1,611,563 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Columbia Banking System by 33.1% during the third quarter. Janus Henderson Group PLC now owns 2,263,432 shares of the financial services provider’s stock worth $59,099,000 after buying an additional 562,467 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Columbia Banking System by 3.4% during the third quarter. Fisher Asset Management LLC now owns 1,614,940 shares of the financial services provider’s stock worth $42,166,000 after buying an additional 53,847 shares in the last quarter. Finally, Segall Bryant & Hamill LLC raised its position in shares of Columbia Banking System by 14.2% in the third quarter. Segall Bryant & Hamill LLC now owns 1,534,798 shares of the financial services provider’s stock valued at $40,074,000 after buying an additional 190,311 shares during the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on COLB shares. Wedbush boosted their price target on shares of Columbia Banking System from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Raymond James upped their price target on Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada lifted their price objective on Columbia Banking System from $29.00 to $31.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Truist Financial upped their target price on Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a report on Monday, October 28th. Finally, Keefe, Bruyette & Woods reduced their price target on Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating on the stock in a report on Friday. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $29.23.

Columbia Banking System Price Performance

Shares of COLB opened at $27.96 on Monday. The firm has a 50-day simple moving average of $28.78 and a two-hundred day simple moving average of $26.79. The stock has a market cap of $5.86 billion, a PE ratio of 12.10 and a beta of 0.67. Columbia Banking System, Inc. has a 1-year low of $17.08 and a 1-year high of $32.85.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.06. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. As a group, sell-side analysts expect that Columbia Banking System, Inc. will post 2.66 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $0.36 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.44 annualized dividend and a dividend yield of 5.15%. Columbia Banking System’s dividend payout ratio is presently 62.34%.

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.