Wealth Enhancement Advisory Services LLC Has $1.03 Million Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Wealth Enhancement Advisory Services LLC boosted its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 1.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,256 shares of the financial services provider’s stock after purchasing an additional 544 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Columbia Banking System were worth $1,025,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in COLB. GAMMA Investing LLC increased its stake in shares of Columbia Banking System by 54.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,640 shares of the financial services provider’s stock worth $95,000 after purchasing an additional 1,290 shares during the last quarter. Farther Finance Advisors LLC increased its position in Columbia Banking System by 1,507.6% during the third quarter. Farther Finance Advisors LLC now owns 4,855 shares of the financial services provider’s stock worth $127,000 after buying an additional 4,553 shares during the last quarter. Hexagon Capital Partners LLC raised its holdings in Columbia Banking System by 26.5% during the third quarter. Hexagon Capital Partners LLC now owns 5,209 shares of the financial services provider’s stock valued at $136,000 after buying an additional 1,091 shares in the last quarter. Signaturefd LLC raised its holdings 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 valued at $151,000 after buying an additional 709 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Columbia Banking System in the third quarter worth about $208,000. Institutional investors and hedge funds own 92.53% of the company’s stock.

Columbia Banking System Stock Up 1.9 %

Columbia Banking System stock opened at $28.43 on Thursday. The company’s 50-day moving average price is $29.20 and its two-hundred day moving average price is $26.30. The stock has a market cap of $5.96 billion, a P/E ratio of 12.31 and a beta of 0.64. Columbia Banking System, Inc. has a twelve month low of $17.08 and a twelve month high of $32.85.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.62 by $0.07. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. The business had revenue of $765.06 million for the quarter, compared to the consensus estimate of $478.80 million. During the same period in the prior year, the company posted $0.79 earnings per share. Equities analysts anticipate that Columbia Banking System, Inc. will post 2.63 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. Shareholders of record on Friday, November 29th were paid a dividend of $0.36 per share. The ex-dividend date was Friday, November 29th. This represents a $1.44 dividend on an annualized basis and a yield of 5.07%. Columbia Banking System’s payout ratio is 62.34%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on COLB shares. Truist Financial raised their target price on shares of Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. lowered their price target on Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. StockNews.com raised Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Saturday, October 5th. Royal Bank of Canada increased their target price on Columbia Banking System from $29.00 to $31.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods lifted their price target on Columbia Banking System from $30.00 to $34.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $29.31.

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.