Kestra Investment Management LLC Makes New $751,000 Investment in Columbia Banking System, Inc. (NASDAQ:COLB)

Kestra Investment Management LLC bought a new stake in Columbia Banking System, Inc. (NASDAQ:COLB) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 28,748 shares of the financial services provider’s stock, valued at approximately $751,000.

Other large investors have also recently made changes to their positions in the company. Allworth Financial LP boosted its holdings in shares of Columbia Banking System by 0.3% in the third quarter. Allworth Financial LP now owns 175,538 shares of the financial services provider’s stock valued at $4,583,000 after acquiring an additional 458 shares during the period. Sippican Capital Advisors raised its position in Columbia Banking System by 0.5% in the 3rd quarter. Sippican Capital Advisors now owns 111,172 shares of the financial services provider’s stock valued at $2,903,000 after purchasing an additional 552 shares during the last quarter. Caprock Group LLC boosted its stake in Columbia Banking System by 2.5% during the 3rd quarter. Caprock Group LLC now owns 28,371 shares of the financial services provider’s stock worth $741,000 after purchasing an additional 682 shares during the period. Signaturefd LLC grew its position in Columbia Banking System by 14.0% during the 3rd quarter. Signaturefd LLC now owns 5,767 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 709 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its stake in Columbia Banking System by 2.9% in the third quarter. Bleakley Financial Group LLC now owns 25,111 shares of the financial services provider’s stock valued at $656,000 after purchasing an additional 718 shares during the period. 92.53% of the stock is owned by institutional investors and hedge funds.

Columbia Banking System Price Performance

Shares of NASDAQ:COLB opened at $31.01 on Monday. The firm has a market capitalization of $6.50 billion, a price-to-earnings ratio of 13.42 and a beta of 0.62. The business’s 50 day simple moving average is $28.41 and its 200-day simple moving average is $24.21. Columbia Banking System, Inc. has a 12 month low of $17.08 and a 12 month high of $32.85.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. The company had revenue of $765.06 million for the quarter, compared to the consensus estimate of $478.80 million. During the same period in the previous year, the business earned $0.79 earnings per share. On average, equities analysts anticipate that Columbia Banking System, Inc. will post 2.63 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.36 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.44 dividend on an annualized basis and a yield of 4.64%. Columbia Banking System’s payout ratio is 62.34%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on COLB shares. Truist Financial increased their target price on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Wells Fargo & Company increased their price objective on Columbia Banking System from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. StockNews.com raised Columbia Banking System from a “sell” rating to a “hold” rating in a report on Saturday, October 5th. JPMorgan Chase & Co. cut their price target on Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Finally, Wedbush lifted their price objective on shares of Columbia Banking System from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Columbia Banking System presently has a consensus rating of “Hold” and an average target price of $27.12.

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.