Thompson Siegel & Walmsley LLC Has $5.98 Million Stock Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

Thompson Siegel & Walmsley LLC trimmed its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 43.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 300,647 shares of the financial services provider’s stock after selling 229,446 shares during the quarter. Thompson Siegel & Walmsley LLC owned 0.14% of Columbia Banking System worth $5,980,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Inspire Advisors LLC acquired a new stake in Columbia Banking System in the 2nd quarter valued at $1,547,000. Cornercap Investment Counsel Inc. lifted its holdings in shares of Columbia Banking System by 20.3% during the second quarter. Cornercap Investment Counsel Inc. now owns 58,810 shares of the financial services provider’s stock valued at $1,170,000 after acquiring an additional 9,916 shares during the period. American Century Companies Inc. grew its holdings in shares of Columbia Banking System by 6.7% in 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 purchasing an additional 386,751 shares during the last quarter. LSV Asset Management increased its position in shares of 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 purchasing an additional 491,742 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of Columbia Banking System by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 58,406 shares of the financial services provider’s stock worth $1,162,000 after purchasing an additional 1,085 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on COLB. StockNews.com cut shares of Columbia Banking System from a “hold” rating to a “sell” rating in a research note on Friday, August 30th. Truist Financial increased their price target on Columbia Banking System from $20.00 to $29.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Wedbush lifted their price objective on Columbia Banking System from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. increased their target price on Columbia Banking System from $22.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company raised their target price on Columbia Banking System from $22.00 to $26.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $25.04.

Columbia Banking System Stock Up 3.5 %

COLB stock opened at $24.37 on Monday. Columbia Banking System, Inc. has a twelve month low of $17.08 and a twelve month high of $28.11. The company has a market cap of $5.10 billion, a P/E ratio of 10.46 and a beta of 0.64. The business’s fifty day moving average is $23.78 and its 200-day moving average is $20.67.

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. The firm had revenue of $472.15 million for the quarter, compared to analyst estimates of $476.01 million. Columbia Banking System had a return on equity of 10.89% and a net margin of 15.94%. The company’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.81 earnings per share. Research analysts anticipate that Columbia Banking System, Inc. will post 2.55 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 23rd were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date was Friday, August 23rd. Columbia Banking System’s payout ratio is presently 61.80%.

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.