Columbia Banking System, Inc. (NASDAQ:COLB) Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama boosted its holdings in Columbia Banking System, Inc. (NASDAQ:COLBFree Report) by 0.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 261,930 shares of the financial services provider’s stock after buying an additional 700 shares during the period. Retirement Systems of Alabama owned 0.13% of Columbia Banking System worth $5,068,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Columbia Banking System by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 21,753,210 shares of the financial services provider’s stock worth $580,376,000 after purchasing an additional 123,120 shares during the period. Franklin Resources Inc. raised its holdings in shares of Columbia Banking System by 9.9% in the 4th quarter. Franklin Resources Inc. now owns 7,788,928 shares of the financial services provider’s stock worth $207,809,000 after purchasing an additional 700,643 shares during the period. Wellington Management Group LLP raised its holdings in shares of Columbia Banking System by 16.2% in 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 purchasing an additional 637,212 shares during the period. American Century Companies Inc. raised its holdings in shares of Columbia Banking System by 32.5% in the 3rd quarter. American Century Companies Inc. now owns 3,939,877 shares of the financial services provider’s stock worth $79,980,000 after purchasing an additional 967,009 shares during the period. Finally, Epoch Investment Partners Inc. raised its holdings in shares of Columbia Banking System by 1.3% in the 4th quarter. Epoch Investment Partners Inc. now owns 2,777,708 shares of the financial services provider’s stock worth $74,109,000 after purchasing an additional 36,507 shares during the period. 92.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on COLB. Piper Sandler restated an “overweight” rating and issued a $27.00 price objective on shares of Columbia Banking System in a report on Wednesday, June 5th. Truist Financial cut their price objective on Columbia Banking System from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Monday, April 1st. Keefe, Bruyette & Woods cut their price objective on Columbia Banking System from $25.00 to $23.00 and set a “market perform” rating on the stock in a report on Friday, April 5th. DA Davidson dropped their target price on Columbia Banking System from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, March 13th. Finally, Wells Fargo & Company dropped their target price on Columbia Banking System from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Columbia Banking System has an average rating of “Hold” and a consensus price target of $22.04.

View Our Latest Research Report on Columbia Banking System

Columbia Banking System Stock Down 2.2 %

COLB stock opened at $19.13 on Friday. Columbia Banking System, Inc. has a 52-week low of $17.08 and a 52-week high of $28.11. The stock’s 50 day moving average is $19.30 and its two-hundred day moving average is $20.22. The company has a market capitalization of $4.01 billion, a PE ratio of 8.21 and a beta of 0.66.

Columbia Banking System (NASDAQ:COLBGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.12. Columbia Banking System had a return on equity of 11.58% and a net margin of 16.52%. The company had revenue of $473.72 million for the quarter, compared to the consensus estimate of $480.39 million. During the same period in the previous year, the business earned $0.46 EPS. Columbia Banking System’s revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Columbia Banking System, Inc. will post 2.44 EPS for the current year.

Columbia Banking System Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 24th were given a $0.36 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $1.44 annualized dividend and a dividend yield of 7.53%. Columbia Banking System’s payout ratio is 61.80%.

Columbia Banking System Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Columbia Banking System (NASDAQ:COLB)

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