Yousif Capital Management LLC Sells 1,080 Shares of Columbia Banking System, Inc. $COLB

Yousif Capital Management LLC reduced its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 1.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 70,560 shares of the financial services provider’s stock after selling 1,080 shares during the period. Yousif Capital Management LLC’s holdings in Columbia Banking System were worth $1,650,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Pzena Investment Management LLC lifted its holdings in Columbia Banking System by 8.6% during the 2nd quarter. Pzena Investment Management LLC now owns 1,541,697 shares of the financial services provider’s stock valued at $36,045,000 after purchasing an additional 121,758 shares during the last quarter. Sippican Capital Advisors lifted its holdings in Columbia Banking System by 2.6% during the 2nd quarter. Sippican Capital Advisors now owns 110,842 shares of the financial services provider’s stock valued at $2,591,000 after purchasing an additional 2,815 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Columbia Banking System by 38.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 36,733 shares of the financial services provider’s stock worth $861,000 after acquiring an additional 10,139 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Columbia Banking System by 26.6% in the second quarter. Blue Trust Inc. now owns 2,718 shares of the financial services provider’s stock worth $64,000 after acquiring an additional 571 shares during the last quarter. Finally, Robertson Stephens Wealth Management LLC bought a new position in shares of Columbia Banking System in the second quarter worth about $214,000. 92.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on COLB. Royal Bank Of Canada boosted their target price on shares of Columbia Banking System from $27.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Friday, October 10th. TD Cowen began coverage on shares of Columbia Banking System in a research note on Thursday, September 25th. They issued a “hold” rating and a $28.00 target price for the company. Keefe, Bruyette & Woods raised shares of Columbia Banking System from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $30.00 to $31.00 in a research note on Friday, October 10th. Zacks Research downgraded shares of Columbia Banking System from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Finally, Piper Sandler boosted their target price on shares of Columbia Banking System from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $29.33.

Columbia Banking System Stock Performance

Shares of NASDAQ:COLB opened at $24.32 on Monday. Columbia Banking System, Inc. has a 52 week low of $19.61 and a 52 week high of $32.85. The company has a market capitalization of $5.11 billion, a PE ratio of 9.65 and a beta of 0.60. The company has a 50 day moving average price of $26.08 and a two-hundred day moving average price of $24.39.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Monday, March 4th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter. Columbia Banking System had a net margin of 17.98% and a return on equity of 11.31%. The company had revenue of $348.47 million during the quarter. On average, sell-side analysts forecast that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a $0.36 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.44 dividend on an annualized basis and a yield of 5.9%. Columbia Banking System’s dividend payout ratio (DPR) is 57.14%.

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.