AQR Capital Management LLC bought a new position in Columbia Banking System, Inc. (NASDAQ:COLB – Free Report) during the second quarter, according to its most recent filing with the SEC. The firm bought 28,820 shares of the financial services provider’s stock, valued at approximately $560,000.
Several other large investors have also bought and sold shares of COLB. Goldman Sachs Group Inc. lifted its stake in Columbia Banking System by 6.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 636,934 shares of the financial services provider’s stock valued at $16,993,000 after acquiring an additional 40,126 shares in the last quarter. Wellington Management Group LLP lifted its stake in 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 valued at $122,158,000 after acquiring an additional 637,212 shares in the last quarter. Vanguard Group Inc. lifted its stake in Columbia Banking System by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 21,753,210 shares of the financial services provider’s stock valued at $580,376,000 after acquiring an additional 123,120 shares in the last quarter. Moody National Bank Trust Division lifted its stake in Columbia Banking System by 44.4% during the 1st quarter. Moody National Bank Trust Division now owns 34,434 shares of the financial services provider’s stock valued at $666,000 after acquiring an additional 10,593 shares in the last quarter. Finally, CWM LLC lifted its stake in Columbia Banking System by 20.9% during the 1st quarter. CWM LLC now owns 7,312 shares of the financial services provider’s stock valued at $141,000 after acquiring an additional 1,263 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on COLB shares. Wedbush raised Columbia Banking System from a “neutral” rating to an “outperform” rating and raised their target price for the company from $28.00 to $31.00 in a research report on Tuesday, September 24th. StockNews.com raised Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Saturday, October 5th. Barclays raised their target price on Columbia Banking System from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Wells Fargo & Company raised their target price on Columbia Banking System from $26.00 to $28.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 1st. Finally, Raymond James raised their target price on Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $25.81.
Columbia Banking System Stock Up 1.0 %
COLB stock opened at $27.16 on Tuesday. The firm has a market capitalization of $5.69 billion, a PE ratio of 11.66 and a beta of 0.64. Columbia Banking System, Inc. has a twelve month low of $17.08 and a twelve month high of $28.11. The stock has a 50-day simple moving average of $24.75 and a two-hundred day simple moving average of $21.71.
Columbia Banking System (NASDAQ:COLB – Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The firm had revenue of $472.15 million during the quarter, compared to the consensus estimate of $476.01 million. Columbia Banking System had a return on equity of 10.89% and a net margin of 15.94%. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter last year, the company posted $0.81 EPS. On average, equities research analysts anticipate that Columbia Banking System, Inc. will post 2.55 EPS for the current fiscal year.
Columbia Banking System Announces Dividend
The company 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 annualized dividend and a yield of 5.30%. The ex-dividend date of this dividend was Friday, August 23rd. Columbia Banking System’s dividend payout ratio is currently 61.80%.
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.
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