Verdence Capital Advisors LLC Raises Stake in Columbia Banking System, Inc. $COLB

Verdence Capital Advisors LLC grew its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 2.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,714 shares of the financial services provider’s stock after purchasing an additional 403 shares during the period. Verdence Capital Advisors LLC’s holdings in Columbia Banking System were worth $484,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Geneos Wealth Management Inc. lifted its stake in shares of Columbia Banking System by 194.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 794 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Columbia Banking System in the 1st quarter valued at $37,000. Financial Harvest LLC acquired a new position in shares of Columbia Banking System in the 1st quarter valued at $53,000. UMB Bank n.a. lifted its stake in shares of Columbia Banking System by 38.1% in the 2nd quarter. UMB Bank n.a. now owns 2,259 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 623 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of Columbia Banking System by 41.4% in the 2nd quarter. Parallel Advisors LLC now owns 2,679 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 785 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Columbia Banking System Price Performance

Shares of NASDAQ COLB opened at $26.14 on Thursday. The stock’s 50-day moving average is $26.07 and its two-hundred day moving average is $24.39. Columbia Banking System, Inc. has a 1-year low of $19.61 and a 1-year high of $32.85. The company has a market cap of $5.50 billion, a price-to-earnings ratio of 10.37 and a beta of 0.60.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Monday, March 4th. The financial services provider reported $0.76 earnings per share for the quarter. Columbia Banking System had a return on equity of 11.31% and a net margin of 17.98%.The company had revenue of $348.47 million for the quarter. Equities research analysts anticipate that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a dividend of $0.36 per share. The ex-dividend date was Friday, August 29th. This represents a $1.44 annualized dividend and a yield of 5.5%. Columbia Banking System’s dividend payout ratio is 57.14%.

Analyst Ratings Changes

Several equities analysts have recently commented on COLB shares. Barclays decreased their price target on Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Columbia Banking System in a research note on Tuesday. Citigroup reissued a “neutral” rating and set a $26.00 target price (up previously from $22.00) on shares of Columbia Banking System in a research note on Monday, July 28th. TD Cowen began coverage on Columbia Banking System in a research note on Thursday, September 25th. They set a “hold” rating and a $28.00 target price on the stock. Finally, Wells Fargo & Company increased their target price on Columbia Banking System from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 29th. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $29.33.

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.