Segall Bryant & Hamill LLC Sells 141,153 Shares of Columbia Banking System, Inc. $COLB

Segall Bryant & Hamill LLC trimmed its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 14.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 832,016 shares of the financial services provider’s stock after selling 141,153 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.29% of Columbia Banking System worth $22,822,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Wellington Management Group LLP grew its position in Columbia Banking System by 31.4% in the 4th quarter. Wellington Management Group LLP now owns 18,106,228 shares of the financial services provider’s stock valued at $506,069,000 after acquiring an additional 4,324,006 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Columbia Banking System by 3.1% in the first quarter. Dimensional Fund Advisors LP now owns 13,549,603 shares of the financial services provider’s stock worth $371,656,000 after purchasing an additional 408,087 shares during the period. State Street Corp lifted its position in shares of Columbia Banking System by 32.5% during the third quarter. State Street Corp now owns 13,407,671 shares of the financial services provider’s stock worth $345,113,000 after purchasing an additional 3,290,560 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Columbia Banking System by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,564,529 shares of the financial services provider’s stock worth $351,179,000 after purchasing an additional 163,543 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Columbia Banking System by 140.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,666,769 shares of the financial services provider’s stock valued at $242,237,000 after purchasing an additional 5,063,212 shares during the period. 92.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on COLB. Weiss Ratings upgraded shares of Columbia Banking System from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. Piper Sandler lifted their price objective on shares of Columbia Banking System from $34.00 to $36.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Fundamental Research set a $35.00 price objective on shares of Columbia Banking System in a research report on Wednesday, July 1st. Royal Bank Of Canada upped their target price on shares of Columbia Banking System from $34.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Friday, July 24th. Finally, Wall Street Zen lowered shares of Columbia Banking System from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Columbia Banking System presently has a consensus rating of “Hold” and a consensus target price of $33.27.

Columbia Banking System Trading Up 0.1%

COLB opened at $31.27 on Friday. The company has a market capitalization of $9.05 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 3.10 and a beta of 0.62. Columbia Banking System, Inc. has a 12-month low of $22.77 and a 12-month high of $33.67. The business’s fifty day simple moving average is $31.16 and its 200-day simple moving average is $29.77.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.03. Columbia Banking System had a return on equity of 11.33% and a net margin of 19.96%.The firm had revenue of $680.00 million during the quarter, compared to the consensus estimate of $687.40 million. During the same period in the previous year, the company posted $0.76 earnings per share. On average, equities research analysts predict that Columbia Banking System, Inc. will post 3.03 EPS for the current year.

Columbia Banking System Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.48 dividend on an annualized basis and a yield of 4.7%. Columbia Banking System’s dividend payout ratio (DPR) is 58.96%.

Insider Activity at Columbia Banking System

In other news, CMO Devine David Moore sold 3,872 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $29.77, for a total value of $115,269.44. Following the completion of the sale, the chief marketing officer owned 18,636 shares in the company, valued at approximately $554,793.72. The trade was a 17.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

Columbia Banking System Profile

Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.

The company’s offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.