Dimensional Fund Advisors LP Purchases 2,833,744 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Dimensional Fund Advisors LP boosted its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 812.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,182,655 shares of the financial services provider’s stock after buying an additional 2,833,744 shares during the period. Dimensional Fund Advisors LP owned approximately 1.52% of Columbia Banking System worth $63,295,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Columbia Banking System by 2.6% during the first quarter. Vanguard Group Inc. now owns 22,327,719 shares of the financial services provider’s stock worth $432,041,000 after purchasing an additional 574,509 shares during the period. American Century Companies Inc. grew its position in shares of Columbia Banking System by 6.7% during the 2nd quarter. American Century Companies Inc. now owns 6,191,704 shares of the financial services provider’s stock worth $123,153,000 after buying an additional 386,751 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Columbia Banking System by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,718,494 shares of the financial services provider’s stock valued at $93,851,000 after acquiring an additional 23,963 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Columbia Banking System by 16.2% during the 4th quarter. Wellington Management Group LLP now owns 4,578,618 shares of the financial services provider’s stock valued at $122,158,000 after acquiring an additional 637,212 shares during the period. Finally, Silvercrest Asset Management Group LLC boosted its stake in Columbia Banking System by 21.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 4,468,643 shares of the financial services provider’s stock worth $86,468,000 after acquiring an additional 788,383 shares in the last quarter. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Trading Down 0.0 %

COLB stock opened at $25.96 on Friday. Columbia Banking System, Inc. has a 1-year low of $17.08 and a 1-year high of $28.11. The stock has a market cap of $5.44 billion, a P/E ratio of 11.14 and a beta of 0.64. The stock’s fifty day simple moving average is $24.51 and its two-hundred day simple moving average is $21.11.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. The company had revenue of $472.15 million during the quarter, compared to analyst estimates of $476.01 million. Columbia Banking System had a net margin of 15.94% and a return on equity of 10.89%. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.81 earnings per share. As a group, analysts forecast that Columbia Banking System, Inc. will post 2.55 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 23rd were paid a dividend of $0.36 per share. The ex-dividend date was Friday, August 23rd. This represents a $1.44 annualized dividend and a dividend yield of 5.55%. Columbia Banking System’s payout ratio is currently 61.80%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Columbia Banking System from $22.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Wedbush upgraded Columbia Banking System from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $28.00 to $31.00 in a report on Tuesday. Wells Fargo & Company boosted their price objective on Columbia Banking System from $22.00 to $26.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods increased their target price on Columbia Banking System from $23.00 to $27.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. Finally, Piper Sandler restated an “overweight” rating and set a $27.00 price target on shares of Columbia Banking System in a research note on Wednesday, June 5th. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Columbia Banking System presently has an average rating of “Hold” and a consensus price target of $25.50.

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.