Public Employees Retirement System of Ohio Sells 4,173 Shares of Columbia Banking System, Inc. $COLB

Public Employees Retirement System of Ohio trimmed its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 5.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,823 shares of the financial services provider’s stock after selling 4,173 shares during the period. Public Employees Retirement System of Ohio’s holdings in Columbia Banking System were worth $1,562,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. boosted its position in shares of Columbia Banking System by 0.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 12,742,629 shares of the financial services provider’s stock valued at $317,802,000 after acquiring an additional 116,795 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Columbia Banking System by 4.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,667,271 shares of the financial services provider’s stock valued at $191,222,000 after purchasing an additional 351,375 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Columbia Banking System by 18.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,527,612 shares of the financial services provider’s stock valued at $162,791,000 after purchasing an additional 1,012,796 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Columbia Banking System by 221.3% in the 1st quarter. JPMorgan Chase & Co. now owns 5,947,950 shares of the financial services provider’s stock valued at $148,342,000 after purchasing an additional 4,096,733 shares during the period. Finally, Epoch Investment Partners Inc. grew its stake in shares of Columbia Banking System by 13.3% in the 1st quarter. Epoch Investment Partners Inc. now owns 2,703,761 shares of the financial services provider’s stock valued at $67,432,000 after purchasing an additional 316,988 shares during the period. 92.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Raymond James Financial upgraded Columbia Banking System from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $27.00 to $31.00 in a research note on Monday, September 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Columbia Banking System in a research note on Saturday, September 27th. DA Davidson upped their price objective on Columbia Banking System from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, June 10th. Barclays boosted their target price on Columbia Banking System from $27.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, July 28th. Finally, Piper Sandler boosted their target price on Columbia Banking System from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $29.27.

Columbia Banking System Stock Up 1.9%

COLB stock opened at $26.41 on Friday. The business’s fifty day moving average is $25.75 and its 200-day moving average is $24.35. The company has a market cap of $5.55 billion, a P/E ratio of 10.48 and a beta of 0.60. Columbia Banking System, Inc. has a twelve month low of $19.61 and a twelve month high of $32.85.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.66 by $0.10. The business had revenue of $511.55 million for the quarter, compared to the consensus estimate of $492.00 million. Columbia Banking System had a return on equity of 11.31% and a net margin of 17.98%.The firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 EPS. Research analysts anticipate that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend was Friday, August 29th. Columbia Banking System’s dividend payout ratio (DPR) is presently 57.14%.

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.