Wealth Enhancement Advisory Services LLC Purchases 22,280 Shares of Columbia Banking System, Inc. $COLB

Wealth Enhancement Advisory Services LLC boosted its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 49.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 67,606 shares of the financial services provider’s stock after acquiring an additional 22,280 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Columbia Banking System were worth $1,771,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC grew its position in shares of Columbia Banking System by 612.8% in the third quarter. True Wealth Design LLC now owns 1,005 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 864 shares during the last quarter. West Oak Capital LLC acquired a new position in shares of Columbia Banking System during the third quarter valued at about $28,000. Quent Capital LLC bought a new stake in shares of Columbia Banking System in the third quarter valued at about $29,000. Geneos Wealth Management Inc. increased its stake in Columbia Banking System by 194.6% during the first quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 794 shares during the period. Finally, First Horizon Corp bought a new stake in shares of Columbia Banking System in the 3rd quarter worth approximately $31,000. Institutional investors and hedge funds own 92.53% of the company’s stock.

Columbia Banking System Price Performance

COLB opened at $29.44 on Friday. The stock has a market capitalization of $8.81 billion, a P/E ratio of 13.03 and a beta of 0.60. The company’s 50 day simple moving average is $28.66 and its 200-day simple moving average is $26.75. Columbia Banking System, Inc. has a one year low of $19.61 and a one year high of $31.11.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.10. The firm had revenue of $715.00 million for the quarter, compared to the consensus estimate of $693.23 million. Columbia Banking System had a return on equity of 11.40% and a net margin of 17.11%.During the same quarter in the prior year, the business earned $0.71 EPS. As a group, analysts anticipate that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were given a $0.37 dividend. The ex-dividend date was Friday, November 28th. This is a positive change from Columbia Banking System’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a yield of 5.0%. Columbia Banking System’s dividend payout ratio is 65.49%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on COLB shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Columbia Banking System in a research report on Monday, December 29th. Royal Bank Of Canada upped their price target on Columbia Banking System from $30.00 to $32.00 and gave the company a “sector perform” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. increased their target price on shares of Columbia Banking System from $31.00 to $33.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 16th. TD Cowen reissued a “hold” rating on shares of Columbia Banking System in a report on Wednesday, January 7th. Finally, Wall Street Zen raised shares of Columbia Banking System to a “hold” rating in a research note on Saturday, December 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $31.65.

Columbia Banking System Profile

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.