Gilman Hill Asset Management LLC Acquires 6,802 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Gilman Hill Asset Management LLC raised its holdings in Columbia Banking System, Inc. (NASDAQ:COLBFree Report) by 2.4% during the first quarter, Holdings Channel.com reports. The institutional investor owned 293,933 shares of the financial services provider’s stock after buying an additional 6,802 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Columbia Banking System were worth $5,688,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in COLB. Capital Advisors Wealth Management LLC boosted its position in shares of Columbia Banking System by 23.3% during the first quarter. Capital Advisors Wealth Management LLC now owns 92,311 shares of the financial services provider’s stock valued at $1,786,000 after purchasing an additional 17,454 shares in the last quarter. Range Financial Group LLC bought a new stake in shares of Columbia Banking System during the first quarter valued at approximately $1,266,000. Alaska Permanent Fund Corp boosted its position in shares of Columbia Banking System by 14.5% during the first quarter. Alaska Permanent Fund Corp now owns 114,993 shares of the financial services provider’s stock valued at $2,225,000 after purchasing an additional 14,550 shares in the last quarter. First Hawaiian Bank boosted its position in shares of Columbia Banking System by 44.5% during the first quarter. First Hawaiian Bank now owns 28,997 shares of the financial services provider’s stock valued at $561,000 after purchasing an additional 8,935 shares in the last quarter. Finally, CWM LLC boosted its position in shares of Columbia Banking System by 20.9% during the first quarter. CWM LLC now owns 7,312 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 1,263 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

COLB has been the topic of several analyst reports. Citigroup dropped their target price on Columbia Banking System from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, March 13th. DA Davidson dropped their target price on Columbia Banking System from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, March 13th. Keefe, Bruyette & Woods dropped their target price on Columbia Banking System from $25.00 to $23.00 and set a “market perform” rating on the stock in a report on Friday, April 5th. Truist Financial dropped their target price on Columbia Banking System from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Monday, April 1st. Finally, Royal Bank of Canada dropped their target price on Columbia Banking System from $25.00 to $21.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 9th. Twelve research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $22.04.

Read Our Latest Research Report on Columbia Banking System

Columbia Banking System Price Performance

NASDAQ COLB traded down $0.36 during midday trading on Tuesday, hitting $18.65. 526,609 shares of the company traded hands, compared to its average volume of 2,559,875. The company has a market cap of $3.90 billion, a PE ratio of 8.16 and a beta of 0.67. Columbia Banking System, Inc. has a 52 week low of $17.08 and a 52 week high of $28.11. The company’s 50-day simple moving average is $19.14 and its 200-day simple moving average is $20.60.

Columbia Banking System (NASDAQ:COLBGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.12. The firm had revenue of $473.72 million during the quarter, compared to analysts’ expectations of $480.39 million. Columbia Banking System had a return on equity of 11.58% and a net margin of 16.52%. The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.46 EPS. On average, research analysts predict that Columbia Banking System, Inc. will post 2.44 earnings per share for the current year.

Columbia Banking System Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 24th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.44 annualized dividend and a yield of 7.72%. Columbia Banking System’s payout ratio is presently 61.80%.

Columbia Banking System Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Columbia Banking System (NASDAQ:COLB)

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