SG Americas Securities LLC Sells 18,429 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

SG Americas Securities LLC trimmed its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 39.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,172 shares of the financial services provider’s stock after selling 18,429 shares during the quarter. SG Americas Securities LLC’s holdings in Columbia Banking System were worth $736,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Columbia Banking System by 2.6% during the first quarter. Vanguard Group Inc. now owns 22,327,719 shares of the financial services provider’s stock worth $432,041,000 after acquiring an additional 574,509 shares during the period. American Century Companies Inc. increased its stake in shares of Columbia Banking System by 6.7% during the second quarter. American Century Companies Inc. now owns 6,191,704 shares of the financial services provider’s stock valued at $123,153,000 after buying an additional 386,751 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Columbia Banking System by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 4,718,494 shares of the financial services provider’s stock valued at $93,851,000 after acquiring an additional 23,963 shares in the last quarter. Wellington Management Group LLP lifted its stake in Columbia Banking System by 16.2% in the fourth quarter. Wellington Management Group LLP now owns 4,578,618 shares of the financial services provider’s stock worth $122,158,000 after acquiring an additional 637,212 shares during the period. Finally, Silvercrest Asset Management Group LLC grew its holdings in Columbia Banking System by 21.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 4,468,643 shares of the financial services provider’s stock worth $86,468,000 after acquiring an additional 788,383 shares in the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Columbia Banking System Price Performance

Shares of NASDAQ:COLB opened at $26.90 on Monday. Columbia Banking System, Inc. has a 1 year low of $17.08 and a 1 year high of $28.11. The firm has a market capitalization of $5.64 billion, a PE ratio of 11.90 and a beta of 0.64. The business’s 50 day moving average price is $24.67 and its 200-day moving average price is $21.65.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.10. The company had revenue of $472.15 million during the quarter, compared to analysts’ expectations of $476.01 million. Columbia Banking System had a return on equity of 10.89% and a net margin of 15.94%. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.81 earnings per share. As a group, analysts expect that Columbia Banking System, Inc. will post 2.55 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 23rd were given a dividend of $0.36 per share. The ex-dividend date was Friday, August 23rd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.35%. Columbia Banking System’s payout ratio is currently 63.72%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on COLB shares. Raymond James boosted their price target on shares of Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Truist Financial lowered their price objective on shares of Columbia Banking System from $29.00 to $28.00 and set a “hold” rating for the company in a research note on Friday, September 20th. Stephens increased their price target on shares of Columbia Banking System from $22.00 to $26.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. JPMorgan Chase & Co. cut their price target on Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company raised their price objective on shares of Columbia Banking System from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 1st. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $25.81.

Columbia Banking System Company Profile

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.