Columbia Banking System, Inc. (NASDAQ:COLB) Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets grew its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 439.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,877 shares of the financial services provider’s stock after acquiring an additional 65,072 shares during the period. BNP Paribas Financial Markets’ holdings in Columbia Banking System were worth $2,086,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Columbia Banking System by 1.6% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,330,133 shares of the financial services provider’s stock worth $46,346,000 after purchasing an additional 36,867 shares in the last quarter. Pathstone Holdings LLC grew its stake in shares of Columbia Banking System by 45.7% during the third quarter. Pathstone Holdings LLC now owns 120,888 shares of the financial services provider’s stock worth $3,156,000 after purchasing an additional 37,941 shares in the last quarter. Leuthold Group LLC acquired a new position in shares of Columbia Banking System during the third quarter worth $3,181,000. Natixis Advisors LLC grew its stake in shares of Columbia Banking System by 37.8% during the second quarter. Natixis Advisors LLC now owns 97,911 shares of the financial services provider’s stock worth $1,947,000 after purchasing an additional 26,877 shares in the last quarter. Finally, Stieven Capital Advisors L.P. acquired a new position in shares of Columbia Banking System during the second quarter worth $9,458,000. Institutional investors and hedge funds own 92.53% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Columbia Banking System from $30.00 to $34.00 and gave the stock a “market perform” rating in a research note on Wednesday. StockNews.com raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Saturday, October 5th. Wedbush boosted their price target on shares of Columbia Banking System from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Truist Financial boosted their price target on shares of Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. reduced 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 report on Wednesday, October 9th. 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, Columbia Banking System has a consensus rating of “Hold” and a consensus price target of $28.19.

Columbia Banking System Stock Performance

Shares of NASDAQ:COLB opened at $30.19 on Friday. The company has a 50-day simple moving average of $28.86 and a 200-day simple moving average of $24.53. Columbia Banking System, Inc. has a one year low of $17.08 and a one year high of $32.85. The stock has a market capitalization of $6.33 billion, a price-to-earnings ratio of 13.07 and a beta of 0.64.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.07. The firm had revenue of $765.06 million during the quarter, compared to analysts’ expectations of $478.80 million. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. During the same period in the prior year, the company posted $0.79 earnings per share. As a group, research analysts forecast that Columbia Banking System, Inc. will post 2.63 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.36 per share. The ex-dividend date is Friday, November 29th. This represents a $1.44 annualized dividend and a yield of 4.77%. Columbia Banking System’s dividend payout ratio is currently 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.