Sanctuary Advisors LLC Invests $288,000 in Columbia Banking System, Inc. (NASDAQ:COLB)

Sanctuary Advisors LLC bought a new stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 11,015 shares of the financial services provider’s stock, valued at approximately $288,000.

Other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in Columbia Banking System by 812.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,182,655 shares of the financial services provider’s stock valued at $63,295,000 after buying an additional 2,833,744 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Columbia Banking System by 31.9% in the third quarter. Wellington Management Group LLP now owns 6,659,255 shares of the financial services provider’s stock valued at $173,873,000 after acquiring an additional 1,611,563 shares in the last quarter. Basswood Capital Management L.L.C. purchased a new stake in shares of Columbia Banking System during the third quarter valued at approximately $26,593,000. Holocene Advisors LP lifted its holdings in Columbia Banking System by 1,001.8% during the third quarter. Holocene Advisors LP now owns 962,330 shares of the financial services provider’s stock worth $25,126,000 after acquiring an additional 874,986 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in shares of Columbia Banking System by 33.1% in the 3rd quarter. Janus Henderson Group PLC now owns 2,263,432 shares of the financial services provider’s stock worth $59,099,000 after buying an additional 562,467 shares during the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on COLB. Barclays boosted their target price on shares of Columbia Banking System from $29.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. lowered their target price on Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. StockNews.com upgraded shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Saturday, October 5th. Wells Fargo & Company boosted their price target on shares of Columbia Banking System from $30.00 to $33.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada raised their price objective on shares of Columbia Banking System from $29.00 to $31.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Columbia Banking System presently has a consensus rating of “Hold” and a consensus price target of $29.00.

Columbia Banking System Price Performance

COLB opened at $27.14 on Friday. The firm has a market capitalization of $5.69 billion, a P/E ratio of 11.75 and a beta of 0.64. Columbia Banking System, Inc. has a one year low of $17.08 and a one year high of $32.85. The company has a fifty day moving average price of $29.43 and a 200-day moving average price of $25.51.

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

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.31%. The ex-dividend date was Friday, November 29th. Columbia Banking System’s dividend payout ratio (DPR) is currently 62.34%.

Columbia Banking System Company 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.