Nisa Investment Advisors LLC Raises Stock Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Nisa Investment Advisors LLC lifted its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 2.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,063 shares of the financial services provider’s stock after buying an additional 1,110 shares during the period. Nisa Investment Advisors LLC’s holdings in Columbia Banking System were worth $1,281,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COLB. Dimensional Fund Advisors LP boosted its stake in Columbia Banking System by 812.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,182,655 shares of the financial services provider’s stock valued at $63,295,000 after acquiring an additional 2,833,744 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its position in shares of Columbia Banking System by 21.4% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 4,468,643 shares of the financial services provider’s stock valued at $86,468,000 after purchasing an additional 788,383 shares during the period. Vanguard Group Inc. grew its stake in Columbia Banking System by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 22,327,719 shares of the financial services provider’s stock worth $432,041,000 after buying an additional 574,509 shares during the last quarter. Pzena Investment Management LLC increased its position in Columbia Banking System by 29.8% during the first quarter. Pzena Investment Management LLC now owns 2,456,438 shares of the financial services provider’s stock worth $47,532,000 after buying an additional 563,674 shares during the period. Finally, LSV Asset Management lifted its stake in Columbia Banking System by 333.8% in the second quarter. LSV Asset Management now owns 639,042 shares of the financial services provider’s stock valued at $12,711,000 after buying an additional 491,742 shares during the last quarter. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Columbia Banking System Price Performance

COLB opened at $28.37 on Monday. The business has a 50 day simple moving average of $25.96 and a 200-day simple moving average of $22.62. Columbia Banking System, Inc. has a 12 month low of $17.08 and a 12 month high of $29.41. The stock has a market capitalization of $5.94 billion, a P/E ratio of 12.28 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. The company had revenue of $765.06 million during the quarter, compared to the consensus estimate of $478.80 million. During the same quarter last year, the company earned $0.79 earnings per share. Research analysts anticipate that Columbia Banking System, Inc. will post 2.6 EPS for the current year.

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 23rd were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date was Friday, August 23rd. Columbia Banking System’s dividend payout ratio is currently 62.34%.

Analysts Set New Price Targets

COLB has been the topic of a number of research reports. Raymond James raised their target price on shares of Columbia Banking System from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Stephens raised their price objective on shares of Columbia Banking System from $22.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Wedbush upped their target price on shares of Columbia Banking System from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Truist Financial raised their price target on Columbia Banking System from $28.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, October 28th. Finally, Barclays upped their price objective on 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $27.12.

About Columbia Banking System

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.