New York State Teachers Retirement System Has $7.53 Million Stake in Columbia Banking System, Inc. (NASDAQ:COLB)

New York State Teachers Retirement System lifted its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 1.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 288,387 shares of the financial services provider’s stock after purchasing an additional 4,123 shares during the quarter. New York State Teachers Retirement System owned 0.14% of Columbia Banking System worth $7,530,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Picton Mahoney Asset Management acquired a new position in Columbia Banking System during the second quarter worth $33,000. Abich Financial Wealth Management LLC raised its stake in Columbia Banking System by 85.1% during the first quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 1,020 shares in the last quarter. GAMMA Investing LLC raised its stake in Columbia Banking System by 144.0% during the second quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 1,387 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Columbia Banking System by 111.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 1,380 shares in the last quarter. Finally, Hexagon Capital Partners LLC raised its stake in Columbia Banking System by 137,166.7% during the second quarter. Hexagon Capital Partners LLC now owns 4,118 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 4,115 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wedbush increased their price objective on Columbia Banking System from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Barclays increased their price objective on Columbia Banking System from $25.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. lowered their target price on Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. StockNews.com upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. Finally, Truist Financial raised their target price 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. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Columbia Banking System presently has a consensus rating of “Hold” and an average target price of $27.12.

Columbia Banking System Stock Down 2.2 %

Columbia Banking System stock opened at $27.76 on Tuesday. Columbia Banking System, Inc. has a 12-month low of $17.08 and a 12-month high of $29.41. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 12.02 and a beta of 0.62. The business’s 50-day simple moving average is $25.96 and its 200 day simple moving average is $22.66.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.07. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. The business had revenue of $765.06 million for the quarter, compared to analysts’ expectations of $478.80 million. During the same quarter in the previous year, the business posted $0.79 EPS. As a group, sell-side analysts expect that Columbia Banking System, Inc. will post 2.6 EPS for the current year.

Columbia Banking System Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 23rd were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date was Friday, August 23rd. Columbia Banking System’s dividend payout ratio is presently 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.