Thrivent Financial for Lutherans Lowers Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

Thrivent Financial for Lutherans reduced its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 53.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 165,815 shares of the financial services provider’s stock after selling 190,520 shares during the quarter. Thrivent Financial for Lutherans owned about 0.08% of Columbia Banking System worth $4,330,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of COLB. Natixis Advisors LLC lifted its position in shares of Columbia Banking System by 18.3% during the third quarter. Natixis Advisors LLC now owns 115,855 shares of the financial services provider’s stock valued at $3,025,000 after buying an additional 17,944 shares during the last quarter. Mengis Capital Management Inc. lifted its holdings in shares of Columbia Banking System by 383.8% during the third quarter. Mengis Capital Management Inc. now owns 49,922 shares of the financial services provider’s stock worth $1,303,000 after purchasing an additional 39,603 shares during the period. Versor Investments LP boosted its holdings in Columbia Banking System by 197.7% in the third quarter. Versor Investments LP now owns 38,400 shares of the financial services provider’s stock valued at $1,003,000 after purchasing an additional 25,500 shares during the last quarter. Peregrine Asset Advisers Inc. purchased a new stake in shares of Columbia Banking System in the third quarter worth about $243,000. Finally, Los Angeles Capital Management LLC acquired a new stake in Columbia Banking System during the third quarter worth about $4,231,000. 92.53% of the stock is owned by institutional investors.

Columbia Banking System Stock Up 3.2 %

Shares of COLB opened at $31.64 on Monday. The business’s 50 day moving average is $27.78 and its two-hundred day moving average is $23.84. The firm has a market cap of $6.63 billion, a price-to-earnings ratio of 13.70 and a beta of 0.62. Columbia Banking System, Inc. has a 52-week low of $17.08 and a 52-week high of $31.86.

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. The company had revenue of $765.06 million for the quarter, compared to the consensus estimate of $478.80 million. During the same quarter last year, the business posted $0.79 EPS. On average, equities analysts expect that Columbia Banking System, Inc. will post 2.63 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis 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 (DPR) is 62.34%.

Wall Street Analysts Forecast Growth

COLB has been the topic of several analyst reports. Wells Fargo & Company lifted their price objective on shares of Columbia Banking System from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. JPMorgan Chase & Co. decreased their price objective on Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Truist Financial raised their target price on Columbia Banking System from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Raymond James increased their price target on Columbia Banking System from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Finally, Wedbush boosted their price objective on shares of Columbia Banking System from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $27.12.

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.