Columbia Banking System, Inc. (NASDAQ:COLB) Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB lifted its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 82.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 391,286 shares of the financial services provider’s stock after acquiring an additional 176,334 shares during the quarter. Nordea Investment Management AB owned about 0.19% of Columbia Banking System worth $10,592,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of Columbia Banking System from $29.00 to $31.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. StockNews.com upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. Raymond James boosted their price target on Columbia Banking System from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Truist Financial raised their price objective on Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, October 28th. Finally, Wells Fargo & Company upgraded Columbia Banking System from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $33.00 to $35.00 in a report on Monday. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $29.31.

Columbia Banking System Price Performance

COLB stock opened at $27.16 on Thursday. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of 11.76 and a beta of 0.67. Columbia Banking System, Inc. has a 1-year low of $17.08 and a 1-year high of $32.85. The firm has a fifty day moving average price of $29.30 and a two-hundred day moving average price of $26.03.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.62 by $0.07. The business had revenue of $765.06 million during the quarter, compared to analyst estimates 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 previous year, the business posted $0.79 EPS. As a group, analysts expect that Columbia Banking System, Inc. will post 2.63 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date of this dividend was Friday, November 29th. Columbia Banking System’s payout ratio is 62.34%.

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.