Fourthstone LLC Lowers Stock Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Fourthstone LLC cut its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 10.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,200 shares of the financial services provider’s stock after selling 2,900 shares during the quarter. Fourthstone LLC’s holdings in Columbia Banking System were worth $658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of COLB. Allworth Financial LP raised its position in shares of Columbia Banking System by 0.3% during the 3rd quarter. Allworth Financial LP now owns 175,538 shares of the financial services provider’s stock valued at $4,583,000 after buying an additional 458 shares in the last quarter. Sippican Capital Advisors increased its stake in Columbia Banking System by 0.5% in the third quarter. Sippican Capital Advisors now owns 111,172 shares of the financial services provider’s stock valued at $2,903,000 after acquiring an additional 552 shares during the last quarter. Caprock Group LLC raised its position in Columbia Banking System by 2.5% during the third quarter. Caprock Group LLC now owns 28,371 shares of the financial services provider’s stock valued at $741,000 after purchasing an additional 682 shares in the last quarter. Signaturefd LLC lifted its stake in Columbia Banking System by 14.0% during the third quarter. Signaturefd LLC now owns 5,767 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 709 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its holdings in shares of Columbia Banking System by 2.9% in the 3rd quarter. Bleakley Financial Group LLC now owns 25,111 shares of the financial services provider’s stock worth $656,000 after purchasing an additional 718 shares in the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Columbia Banking System Price Performance

COLB traded down $0.10 during midday trading on Thursday, reaching $31.62. 940,274 shares of the company’s stock traded hands, compared to its average volume of 2,230,215. Columbia Banking System, Inc. has a 52 week low of $17.08 and a 52 week high of $32.85. The firm has a fifty day moving average of $28.07 and a two-hundred day moving average of $24.00. The stock has a market capitalization of $6.63 billion, a price-to-earnings ratio of 13.69 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The company had revenue of $765.06 million during the quarter, compared to the consensus estimate of $478.80 million. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. During the same quarter in the prior year, the company earned $0.79 earnings per share. Sell-side analysts forecast that Columbia Banking System, Inc. will post 2.63 EPS for the current year.

Columbia Banking System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.55%. The ex-dividend date of this dividend is Friday, November 29th. Columbia Banking System’s dividend payout ratio is currently 62.34%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on COLB shares. Truist Financial raised their price objective on Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a report on Monday, October 28th. Raymond James lifted their price target on shares of Columbia Banking System from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Wedbush boosted their price objective on shares of Columbia Banking System from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. StockNews.com raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a report on Saturday, October 5th. Finally, Wells Fargo & Company boosted their price target on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Columbia Banking System has an average rating of “Hold” and a consensus price target of $27.12.

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.