Caprock Group LLC Buys 682 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Caprock Group LLC increased its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,371 shares of the financial services provider’s stock after purchasing an additional 682 shares during the quarter. Caprock Group LLC’s holdings in Columbia Banking System were worth $741,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of COLB. Dimensional Fund Advisors LP boosted 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 valued at $63,295,000 after purchasing an additional 2,833,744 shares during the last quarter. Silvercrest Asset Management Group LLC grew its holdings in 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 worth $86,468,000 after acquiring an additional 788,383 shares during the period. Vanguard Group Inc. raised its position in shares of Columbia Banking System by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 22,327,719 shares of the financial services provider’s stock valued at $432,041,000 after acquiring an additional 574,509 shares during the last quarter. LSV Asset Management lifted its stake in shares of Columbia Banking System by 333.8% in the 2nd quarter. LSV Asset Management now owns 639,042 shares of the financial services provider’s stock valued at $12,711,000 after purchasing an additional 491,742 shares during the period. Finally, Stieven Capital Advisors L.P. bought a new position in shares of Columbia Banking System in the 2nd quarter worth $9,458,000. Institutional investors and hedge funds own 92.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on COLB. Wedbush increased their target price on Columbia Banking System from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Wells Fargo & Company lifted their price objective on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. 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. Truist Financial lifted their price target on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Columbia Banking System has an average rating of “Hold” and an average price target of $27.12.

Columbia Banking System Trading Up 3.2 %

Shares of COLB opened at $31.64 on Friday. The company’s fifty day simple moving average is $27.78 and its 200 day simple moving average is $23.79. Columbia Banking System, Inc. has a 1-year low of $17.08 and a 1-year high of $31.86. The company has a market cap of $6.63 billion, a price-to-earnings ratio of 13.70 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB) last issued its 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 company had revenue of $765.06 million for the quarter, compared to analysts’ expectations 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 prior year, the firm earned $0.79 EPS. As a group, research analysts forecast that Columbia Banking System, Inc. will post 2.63 earnings per share for the current year.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend is Friday, November 29th. Columbia Banking System’s dividend payout ratio is 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.