TRUE Private Wealth Advisors Sells 800 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

TRUE Private Wealth Advisors cut its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 5.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,626 shares of the financial services provider’s stock after selling 800 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Columbia Banking System were worth $356,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of Columbia Banking System by 812.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,182,655 shares of the financial services provider’s stock worth $63,295,000 after acquiring an additional 2,833,744 shares in the last quarter. LSV Asset Management lifted its position in Columbia Banking System by 333.8% during the 2nd quarter. LSV Asset Management now owns 639,042 shares of the financial services provider’s stock worth $12,711,000 after buying an additional 491,742 shares in the last quarter. Stieven Capital Advisors L.P. bought a new stake in Columbia Banking System during the 2nd quarter worth about $9,458,000. American Century Companies Inc. boosted its stake in shares of Columbia Banking System by 6.7% during the 2nd quarter. American Century Companies Inc. now owns 6,191,704 shares of the financial services provider’s stock worth $123,153,000 after buying an additional 386,751 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Columbia Banking System by 90.8% in the 2nd quarter. Renaissance Technologies LLC now owns 573,596 shares of the financial services provider’s stock valued at $11,409,000 after acquiring an additional 273,018 shares in the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Raymond James increased their price target on Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Barclays increased their price objective on Columbia Banking System from $25.00 to $29.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Royal Bank of Canada boosted their target price on shares of Columbia Banking System from $29.00 to $31.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Wells Fargo & Company increased their price target on shares of Columbia Banking System from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Finally, Truist Financial lifted their price objective on shares of Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Columbia Banking System presently has a consensus rating of “Hold” and a consensus price target of $27.12.

Columbia Banking System Stock Performance

NASDAQ:COLB opened at $31.01 on Friday. Columbia Banking System, Inc. has a 52 week low of $17.08 and a 52 week high of $32.85. The firm’s 50-day simple moving average is $28.41 and its 200 day simple moving average is $24.18. The firm has a market cap of $6.50 billion, a price-to-earnings ratio of 13.42 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.07. The business had revenue of $765.06 million during the quarter, compared to analysts’ expectations 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 period in the previous year, the company posted $0.79 earnings per share. Sell-side analysts anticipate that Columbia Banking System, Inc. will post 2.63 EPS for the current year.

Columbia Banking System Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 4.64%. The ex-dividend date is Friday, November 29th. Columbia Banking System’s dividend payout ratio (DPR) is currently 62.34%.

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.