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

Clean Yield Group raised its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 8.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,214 shares of the financial services provider’s stock after buying an additional 2,823 shares during the period. Clean Yield Group’s holdings in Columbia Banking System were worth $953,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd acquired a new position in Columbia Banking System in the fourth quarter valued at about $29,000. SBI Securities Co. Ltd. acquired a new position in Columbia Banking System in the fourth quarter valued at about $32,000. Meeder Asset Management Inc. acquired a new position in Columbia Banking System in the fourth quarter valued at about $42,000. Kapitalo Investimentos Ltda acquired a new position in Columbia Banking System in the fourth quarter valued at about $42,000. Finally, Smartleaf Asset Management LLC boosted its position in Columbia Banking System by 62.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,038 shares of the financial services provider’s stock valued at $55,000 after buying an additional 780 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Columbia Banking System Price Performance

COLB opened at $23.92 on Friday. The company has a market cap of $5.03 billion, a price-to-earnings ratio of 9.42 and a beta of 0.63. The firm has a 50 day simple moving average of $23.10 and a 200 day simple moving average of $25.96. Columbia Banking System, Inc. has a fifty-two week low of $18.22 and a fifty-two week high of $32.85.

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

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 6.02%. The ex-dividend date of this dividend is Friday, May 30th. Columbia Banking System’s payout ratio is presently 61.02%.

Analysts Set New Price Targets

COLB has been the topic of a number of recent analyst reports. DA Davidson set a $25.00 price target on shares of Columbia Banking System and gave the company a “neutral” rating in a research report on Thursday, April 24th. Barclays boosted 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 research note on Friday, April 25th. Royal Bank of Canada dropped their target price on shares of Columbia Banking System from $32.00 to $27.00 and set a “sector perform” rating for the company in a research note on Thursday, April 24th. Wall Street Zen initiated coverage on shares of Columbia Banking System in a research note on Thursday, May 22nd. They issued a “hold” rating for the company. Finally, Piper Sandler dropped their target price on shares of Columbia Banking System from $32.00 to $30.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $29.64.

About Columbia Banking System

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.