Segall Bryant & Hamill LLC Has $40.07 Million Stake in Columbia Banking System, Inc. (NASDAQ:COLB)

Segall Bryant & Hamill LLC increased its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 14.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,534,798 shares of the financial services provider’s stock after acquiring an additional 190,311 shares during the period. Segall Bryant & Hamill LLC’s holdings in Columbia Banking System were worth $40,074,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in COLB. Picton Mahoney Asset Management acquired a new position in Columbia Banking System during the second quarter worth $33,000. Abich Financial Wealth Management LLC boosted its holdings in Columbia Banking System by 85.1% during the first quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 1,020 shares during the last quarter. GAMMA Investing LLC lifted its stake in Columbia Banking System by 144.0% in the second quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 1,387 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Columbia Banking System by 111.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 1,380 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its stake in Columbia Banking System by 137,166.7% in the second quarter. Hexagon Capital Partners LLC now owns 4,118 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 4,115 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Stephens increased their price target on shares of Columbia Banking System from $22.00 to $26.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. StockNews.com upgraded shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. Wells Fargo & Company increased their price target on shares of Columbia Banking System from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Finally, Barclays increased their price target on shares of Columbia Banking System from $25.00 to $29.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.12.

Columbia Banking System Stock Performance

NASDAQ:COLB opened at $30.15 on Wednesday. Columbia Banking System, Inc. has a 52 week low of $17.08 and a 52 week high of $31.86. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of 13.05 and a beta of 0.62. The firm’s 50-day simple moving average is $27.37 and its 200 day simple moving average is $23.62.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. The business had revenue of $765.06 million for the quarter, compared to analyst estimates of $478.80 million. During the same period last year, the firm earned $0.79 earnings per share. Sell-side analysts anticipate that Columbia Banking System, Inc. will post 2.62 EPS for the current year.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date of this dividend is Friday, November 29th. Columbia Banking System’s dividend payout ratio is 62.34%.

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.