IMS Capital Management Has $325,000 Stock Position in Columbia Banking System, Inc. (NASDAQ:COLB)

IMS Capital Management lessened its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 7.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 16,364 shares of the financial services provider’s stock after selling 1,330 shares during the quarter. IMS Capital Management’s holdings in Columbia Banking System were worth $325,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Corient Private Wealth LLC acquired a new position in Columbia Banking System in the fourth quarter valued at approximately $963,000. Orion Portfolio Solutions LLC boosted its stake in Columbia Banking System by 10.6% during the fourth quarter. Orion Portfolio Solutions LLC now owns 33,490 shares of the financial services provider’s stock worth $875,000 after acquiring an additional 3,211 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Columbia Banking System by 75.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 13,327 shares of the financial services provider’s stock worth $356,000 after acquiring an additional 5,752 shares in the last quarter. TD Asset Management Inc grew its holdings in Columbia Banking System by 1.6% in the fourth quarter. TD Asset Management Inc now owns 294,675 shares of the financial services provider’s stock worth $7,862,000 after purchasing an additional 4,661 shares during the period. Finally, Stifel Financial Corp increased its stake in Columbia Banking System by 25.2% in the fourth quarter. Stifel Financial Corp now owns 297,675 shares of the financial services provider’s stock valued at $7,942,000 after purchasing an additional 59,848 shares in the last quarter. Institutional investors own 92.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on COLB shares. StockNews.com raised Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Wednesday, September 25th. Truist Financial lowered their target price on Columbia Banking System from $29.00 to $28.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. Barclays lifted their price target on shares of Columbia Banking System from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday. Keefe, Bruyette & Woods upped their price objective on shares of Columbia Banking System from $23.00 to $27.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Columbia Banking System from $22.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Columbia Banking System presently has an average rating of “Hold” and a consensus target price of $25.50.

Columbia Banking System Stock Performance

Shares of NASDAQ:COLB opened at $26.11 on Tuesday. Columbia Banking System, Inc. has a fifty-two week low of $17.08 and a fifty-two week high of $28.11. The company’s 50-day moving average is $24.56 and its 200 day moving average is $21.19. The company has a market capitalization of $5.47 billion, a P/E ratio of 11.21 and a beta of 0.64.

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The firm had revenue of $472.15 million during the quarter, compared to the consensus estimate of $476.01 million. Columbia Banking System had a net margin of 15.94% and a return on equity of 10.89%. The company’s revenue was down 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 EPS. As a group, research analysts predict that Columbia Banking System, Inc. will post 2.55 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 23rd were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.52%. Columbia Banking System’s dividend payout ratio is presently 61.80%.

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.