Oak Thistle LLC acquired a new position in shares of Columbia Banking System, Inc. (NASDAQ:COLB – Free Report) in the 4th quarter, HoldingsChannel reports. The firm acquired 66,061 shares of the financial services provider’s stock, valued at approximately $1,784,000.
A number of other institutional investors also recently modified their holdings of COLB. Sanctuary Advisors LLC acquired a new stake in Columbia Banking System during the 3rd quarter valued at $288,000. Nordea Investment Management AB grew its holdings in shares of Columbia Banking System by 82.0% during the fourth quarter. Nordea Investment Management AB now owns 391,286 shares of the financial services provider’s stock worth $10,592,000 after purchasing an additional 176,334 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Columbia Banking System by 1.6% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,330,133 shares of the financial services provider’s stock valued at $46,346,000 after buying an additional 36,867 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Columbia Banking System by 15.7% in the third quarter. JPMorgan Chase & Co. now owns 716,673 shares of the financial services provider’s stock valued at $18,712,000 after buying an additional 97,498 shares during the last quarter. Finally, Pathstone Holdings LLC lifted its position in Columbia Banking System by 45.7% during the 3rd quarter. Pathstone Holdings LLC now owns 120,888 shares of the financial services provider’s stock worth $3,156,000 after buying an additional 37,941 shares in the last quarter. Institutional investors own 92.53% of the company’s stock.
Wall Street Analysts Forecast Growth
COLB has been the subject of several research reports. Barclays raised their price objective on shares of Columbia Banking System from $29.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Wedbush boosted their price objective on shares of Columbia Banking System from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods increased their price objective on Columbia Banking System from $30.00 to $34.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Saturday, October 5th. Finally, Truist Financial raised their price target on Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a report on Monday, October 28th. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $29.31.
Columbia Banking System Price Performance
Shares of COLB stock opened at $27.89 on Wednesday. The stock has a market cap of $5.84 billion, a PE ratio of 12.07 and a beta of 0.67. The stock has a 50-day moving average of $29.21 and a 200-day moving average of $26.24. Columbia Banking System, Inc. has a one year low of $17.08 and a one year high of $32.85.
Columbia Banking System (NASDAQ:COLB – Get Free Report) last issued its 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 firm had revenue of $765.06 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm earned $0.79 earnings per share. As a group, research analysts anticipate that Columbia Banking System, Inc. will post 2.63 earnings per share for the current year.
Columbia Banking System Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a dividend of $0.36 per share. The ex-dividend date was Friday, November 29th. This represents a $1.44 annualized dividend and a yield of 5.16%. Columbia Banking System’s dividend payout ratio is presently 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.
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