Columbia Banking System, Inc. (NASDAQ:COLB) Shares Bought by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC increased its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 3.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 122,274 shares of the financial services provider’s stock after acquiring an additional 4,408 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.06% of Columbia Banking System worth $3,303,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in Columbia Banking System by 54.9% in 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 period. Farther Finance Advisors LLC lifted its holdings in shares of Columbia Banking System by 1,507.6% in the third quarter. Farther Finance Advisors LLC now owns 4,855 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 4,553 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in shares of Columbia Banking System by 26.5% in the third quarter. Hexagon Capital Partners LLC now owns 5,209 shares of the financial services provider’s stock worth $136,000 after buying an additional 1,091 shares during the period. Signaturefd LLC grew its holdings in shares of 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 position in Columbia Banking System during the third quarter valued at $208,000. 92.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on COLB. UBS Group assumed coverage on Columbia Banking System in a research report on Tuesday, December 17th. They set a “neutral” rating and a $32.00 price objective for the company. Truist Financial raised their price target on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, October 28th. JPMorgan Chase & Co. dropped their price objective on shares of Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Citigroup decreased their target price on shares of Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating on the stock in a report on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Columbia Banking System currently has a consensus rating of “Hold” and an average target price of $30.38.

Columbia Banking System Price Performance

Shares of NASDAQ:COLB opened at $27.90 on Friday. The stock has a market capitalization of $5.85 billion, a P/E ratio of 10.98 and a beta of 0.67. The business has a 50-day moving average of $28.51 and a two-hundred day moving average of $26.93. Columbia Banking System, Inc. has a fifty-two week low of $17.08 and a fifty-two week 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, topping the consensus estimate of $0.65 by $0.06. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. As a group, research analysts expect that Columbia Banking System, Inc. will post 2.74 EPS 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 dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.16%. The ex-dividend date of this dividend was Friday, November 29th. Columbia Banking System’s dividend payout ratio is currently 56.69%.

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.