Thrivent Financial for Lutherans Has $4.33 Million Stake in Columbia Banking System, Inc. (NASDAQ:COLB)

Thrivent Financial for Lutherans reduced its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 53.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 165,815 shares of the financial services provider’s stock after selling 190,520 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Columbia Banking System were worth $4,330,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of COLB. Picton Mahoney Asset Management bought a new stake in Columbia Banking System during the 2nd quarter valued at approximately $33,000. Abich Financial Wealth Management LLC lifted its stake in shares of Columbia Banking System by 85.1% in the first quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider’s stock valued at $43,000 after buying an additional 1,020 shares during the period. GAMMA Investing LLC grew its position in Columbia Banking System by 144.0% during the second quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider’s stock worth $47,000 after buying an additional 1,387 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Columbia Banking System by 111.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 1,380 shares during the period. Finally, Hexagon Capital Partners LLC raised its holdings in Columbia Banking System by 137,166.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 4,118 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 4,115 shares in the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective 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. Barclays upped their price objective on Columbia Banking System from $25.00 to $29.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Truist Financial boosted their price target on Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, October 28th. Wells Fargo & Company lifted their price objective on Columbia Banking System from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Finally, StockNews.com upgraded shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Saturday, October 5th. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $27.12.

Columbia Banking System Trading Up 3.2 %

Shares of NASDAQ COLB opened at $31.64 on Monday. The firm has a market capitalization of $6.63 billion, a PE ratio of 13.70 and a beta of 0.62. The firm’s 50-day moving average is $27.78 and its 200-day moving average is $23.84. Columbia Banking System, Inc. has a 1 year low of $17.08 and a 1 year high of $31.86.

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

Columbia Banking System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, November 29th. This represents a $1.44 annualized dividend and a dividend yield of 4.55%. Columbia Banking System’s payout ratio is currently 62.34%.

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.