Clean Yield Group Has $953,000 Stock Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Clean Yield Group lifted its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 8.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,214 shares of the financial services provider’s stock after purchasing an additional 2,823 shares during the quarter. Clean Yield Group’s holdings in Columbia Banking System were worth $953,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new position in shares of Columbia Banking System during the 4th quarter worth $29,000. SBI Securities Co. Ltd. acquired a new position in shares of Columbia Banking System during the 4th quarter worth $32,000. Kapitalo Investimentos Ltda acquired a new position in shares of Columbia Banking System during the 4th quarter worth $42,000. Meeder Asset Management Inc. acquired a new position in shares of Columbia Banking System during the 4th quarter worth $42,000. Finally, Smartleaf Asset Management LLC increased its stake in shares of Columbia Banking System by 62.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,038 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 780 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Columbia Banking System Stock Performance

Shares of Columbia Banking System stock opened at $23.92 on Friday. The firm’s 50-day simple moving average is $23.10 and its 200-day simple moving average is $25.96. Columbia Banking System, Inc. has a twelve month low of $18.22 and a twelve month high of $32.85. The firm has a market cap of $5.03 billion, a P/E ratio of 9.42 and a beta of 0.63.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Wednesday, April 23rd. The financial services provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.04. Columbia Banking System had a net margin of 17.99% and a return on equity of 11.21%. The business had revenue of $481.92 million for the quarter, compared to analyst estimates of $482.86 million. During the same period in the previous year, the business earned $0.65 EPS. The firm’s revenue was up 3.7% on a year-over-year basis. On average, equities analysts forecast that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, May 30th. This represents a $1.44 annualized dividend and a dividend yield of 6.02%. Columbia Banking System’s dividend payout ratio (DPR) is currently 61.02%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on COLB shares. Barclays lifted their target price on shares of Columbia Banking System from $27.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, April 25th. Wells Fargo & Company lifted their target price on shares of Columbia Banking System from $26.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Jefferies Financial Group started coverage on shares of Columbia Banking System in a report on Wednesday, May 21st. They issued a “hold” rating and a $27.00 target price on the stock. Raymond James set a $27.00 target price on shares of Columbia Banking System and gave the stock an “outperform” rating in a report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Columbia Banking System from $33.00 to $30.00 and set a “market perform” rating on the stock in a report on Thursday, April 24th. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $29.64.

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.