Columbia Banking System, Inc. $COLB Stock: Revolve Wealth Partners LLC Trims Holdings

Revolve Wealth Partners LLC trimmed its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 68.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 8,406 shares of the financial services provider’s stock after selling 18,494 shares during the quarter. Revolve Wealth Partners LLC’s holdings in Columbia Banking System were worth $240,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Columbia Banking System during the second quarter valued at approximately $29,000. Cedar Mountain Advisors LLC increased its position in shares of Columbia Banking System by 571.7% during the first quarter. Cedar Mountain Advisors LLC now owns 1,115 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 949 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Columbia Banking System during the second quarter worth approximately $31,000. Root Financial Partners LLC purchased a new stake in shares of Columbia Banking System during the third quarter worth approximately $34,000. Finally, Elevation Wealth Partners LLC raised its stake in Columbia Banking System by 213.7% in the 3rd quarter. Elevation Wealth Partners LLC now owns 1,352 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 921 shares during the last quarter. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on COLB. TD Cowen decreased their price objective on Columbia Banking System from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Monday, October 5th. JPMorgan Chase & Co. lowered their target price on shares of Columbia Banking System from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, October 1st. DA Davidson raised shares of Columbia Banking System from a “neutral” rating to a “buy” rating and upped their target price for the stock from $33.00 to $36.00 in a report on Tuesday, September 1st. Royal Bank Of Canada increased their target price on shares of Columbia Banking System from $32.00 to $34.00 and gave the company a “sector perform” rating in a research report on Friday. Finally, Weiss Ratings upgraded shares of Columbia Banking System from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Columbia Banking System has an average rating of “Hold” and a consensus price target of $33.38.

Columbia Banking System Price Performance

Shares of Columbia Banking System stock opened at $31.06 on Tuesday. The stock has a market cap of $8.79 billion, a P/E ratio of 10.75, a P/E/G ratio of 0.89 and a beta of 0.66. The stock’s 50 day simple moving average is $29.68 and its 200-day simple moving average is $29.83. Columbia Banking System, Inc. has a 1-year low of $25.12 and a 1-year high of $33.67.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. Columbia Banking System had a return on equity of 11.93% and a net margin of 22.83%. The business had revenue of $702.00 million during the quarter, compared to analyst estimates of $687.74 million. During the same period in the prior year, the business earned $0.85 earnings per share. The business’s revenue was up 19.4% compared to the same quarter last year. As a group, research analysts expect that Columbia Banking System, Inc. will post 3.04 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Friday, August 28th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, August 28th. This represents a $1.48 dividend on an annualized basis and a yield of 4.8%. Columbia Banking System’s payout ratio is 51.21%.

About Columbia Banking System

Columbia Banking System, Inc is a bank holding company headquartered in Tacoma, Washington. It operates through Umpqua Bank, a full-service financial institution serving consumers, businesses, professionals and institutions.

Umpqua Bank provides deposit accounts, residential and commercial lending, business banking, treasury and cash-management services, mortgage banking, personal banking and wealth-management solutions. Its offerings include checking and savings accounts, commercial real estate and business loans, consumer credit, online and mobile banking, and investment and advisory services.

Columbia Banking System traces its roots to the formation of Columbia State Bank in Washington in 1993.