26,642 Shares in Columbia Banking System, Inc. $COLB Acquired by Evolve Private Wealth LLC

Evolve Private Wealth LLC acquired 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. The institutional investor acquired 26,642 shares of the financial services provider’s stock, valued at approximately $854,000.

Other hedge funds have also recently made changes to their positions in the company. De Lisle Partners LLP bought a new stake in Columbia Banking System during the 2nd quarter valued at about $328,000. William Blair Investment Management LLC bought a new position in Columbia Banking System in the 2nd quarter worth about $402,000. EP Wealth Advisors LLC purchased a new position in shares of Columbia Banking System during the second quarter worth approximately $2,075,000. Ieq Capital LLC purchased a new position in shares of Columbia Banking System during the second quarter worth approximately $10,265,000. Finally, Callan Family Office LLC bought a new stake in shares of Columbia Banking System during the second quarter valued at approximately $1,364,000. 92.53% of the stock is currently owned by institutional investors.

Insider Activity at Columbia Banking System

In other news, CMO Devine David Moore sold 3,872 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $29.77, for a total value of $115,269.44. Following the completion of the transaction, the chief marketing officer directly owned 18,636 shares of the company’s stock, valued at approximately $554,793.72. The trade was a 17.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.57% of the company’s stock.

Columbia Banking System Stock Performance

NASDAQ COLB opened at $30.81 on Monday. The company has a market cap of $8.72 billion, a PE ratio of 12.27, a P/E/G ratio of 3.05 and a beta of 0.63. The firm’s 50 day moving average price is $31.71 and its 200-day moving average price is $30.06. Columbia Banking System, Inc. has a 52-week low of $23.83 and a 52-week high of $33.67.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. The company had revenue of $677.00 million during the quarter, compared to the consensus estimate of $687.40 million. Columbia Banking System had a net margin of 19.96% and a return on equity of 11.33%. During the same quarter in the previous year, the firm posted $0.76 earnings per share. On average, analysts forecast that Columbia Banking System, Inc. will post 3.03 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, August 28th will be issued a $0.37 dividend. The ex-dividend date is Friday, August 28th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.8%. Columbia Banking System’s dividend payout ratio (DPR) is currently 58.96%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on COLB. Keefe, Bruyette & Woods boosted their price target on Columbia Banking System from $34.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Weiss Ratings upgraded Columbia Banking System from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. Barclays decreased their target price on Columbia Banking System from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Monday, August 3rd. Zacks Research cut Columbia Banking System from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. increased their price target on Columbia Banking System from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $33.35.

About Columbia Banking System

Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.

The company’s offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.