Columbia Banking System, Inc. (NASDAQ:COLB) Holdings Lifted by Algert Global LLC

Algert Global LLC boosted its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 6.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 321,874 shares of the financial services provider’s stock after acquiring an additional 18,708 shares during the quarter. Algert Global LLC’s holdings in Columbia Banking System were worth $6,402,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of 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 worth $63,295,000 after purchasing an additional 2,833,744 shares during the last quarter. Public Employees Retirement Association of Colorado increased its holdings in shares of Columbia Banking System by 3,245.7% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 864,604 shares of the financial services provider’s stock valued at $23,068,000 after buying an additional 838,762 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its position in shares of Columbia Banking System by 21.4% during 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 acquiring an additional 788,383 shares during the last quarter. Wellington Management Group LLP boosted its stake 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 worth $122,158,000 after acquiring an additional 637,212 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Columbia Banking System by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 22,327,719 shares of the financial services provider’s stock worth $432,041,000 after acquiring an additional 574,509 shares during the last quarter. 92.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on COLB. Barclays upped their target price on Columbia Banking System from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday. Wedbush raised shares of Columbia Banking System from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $28.00 to $31.00 in a research report on Tuesday, September 24th. Stephens upped their price target on shares of Columbia Banking System from $22.00 to $26.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. lifted their price objective on shares of Columbia Banking System from $22.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company increased their target price 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. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Columbia Banking System has a consensus rating of “Hold” and a consensus price target of $25.50.

Columbia Banking System Trading Down 0.0 %

NASDAQ COLB opened at $25.96 on Monday. Columbia Banking System, Inc. has a 1-year low of $17.08 and a 1-year high of $28.11. The firm’s fifty day simple moving average is $24.51 and its 200-day simple moving average is $21.14. The company has a market capitalization of $5.44 billion, a PE ratio of 11.14 and a beta of 0.64.

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

Columbia Banking System Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 23rd were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 5.55%. The ex-dividend date was Friday, August 23rd. Columbia Banking System’s dividend payout ratio (DPR) is presently 61.80%.

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.