Summit Trail Advisors LLC Acquires Shares of 12,108 Columbia Banking System, Inc. (NASDAQ:COLB)

Summit Trail Advisors LLC bought a new stake in Columbia Banking System, Inc. (NASDAQ:COLB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 12,108 shares of the financial services provider’s stock, valued at approximately $241,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Columbia Banking System by 2.6% in the first quarter. Vanguard Group Inc. now owns 22,327,719 shares of the financial services provider’s stock valued at $432,041,000 after purchasing an additional 574,509 shares during the last quarter. American Century Companies Inc. grew its position in shares of Columbia Banking System by 6.7% in 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 purchasing an additional 386,751 shares during the last quarter. Bank of New York Mellon Corp grew its position in Columbia Banking System by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 4,718,494 shares of the financial services provider’s stock worth $93,851,000 after buying an additional 23,963 shares in the last quarter. Wellington Management Group LLP grew its position in Columbia Banking System by 16.2% during 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 buying an additional 637,212 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC grew its position in Columbia Banking System by 21.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 4,468,643 shares of the financial services provider’s stock worth $86,468,000 after buying an additional 788,383 shares in the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Columbia Banking System Stock Performance

Shares of COLB opened at $26.08 on Wednesday. Columbia Banking System, Inc. has a 52 week low of $17.08 and a 52 week high of $28.11. The stock has a market capitalization of $5.46 billion, a price-to-earnings ratio of 11.19 and a beta of 0.64. The stock has a fifty day moving average of $24.37 and a 200-day moving average of $21.00.

Columbia Banking System (NASDAQ:COLB) last announced 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 business had revenue of $472.15 million during 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%. Columbia Banking System’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period last year, the company earned $0.81 EPS. As a group, equities analysts forecast that Columbia Banking System, Inc. will post 2.55 EPS for the current year.

Columbia Banking System Dividend Announcement

The business also recently announced 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. This represents a $1.44 annualized dividend and a yield of 5.52%. The ex-dividend date was Friday, August 23rd. Columbia Banking System’s dividend payout ratio is currently 61.80%.

Analyst Ratings Changes

COLB has been the topic of a number of analyst reports. Barclays increased their price target on Columbia Banking System from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Wedbush raised Columbia Banking System from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $28.00 to $31.00 in a research report on Tuesday. Stephens increased their price target on Columbia Banking System from $22.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. 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 report on Friday, July 26th. Finally, Keefe, Bruyette & Woods raised their target price on Columbia Banking System from $23.00 to $27.00 and gave the company a “market perform” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $25.42.

Columbia Banking System 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.