US Bancorp DE Increases Stock Position in Columbia Banking System, Inc. $COLB

US Bancorp DE raised its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 5.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 58,653 shares of the financial services provider’s stock after buying an additional 3,261 shares during the quarter. US Bancorp DE’s holdings in Columbia Banking System were worth $1,371,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its holdings in shares of Columbia Banking System by 194.6% during the first quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 794 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Columbia Banking System during the first quarter valued at $37,000. Financial Harvest LLC bought a new position in shares of Columbia Banking System during the first quarter valued at $53,000. UMB Bank n.a. increased its holdings in shares of Columbia Banking System by 38.1% during the second quarter. UMB Bank n.a. now owns 2,259 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 623 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of Columbia Banking System by 41.4% during the second quarter. Parallel Advisors LLC now owns 2,679 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 785 shares in the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. TD Cowen assumed coverage on Columbia Banking System in a report on Thursday, September 25th. They set a “hold” rating and a $28.00 price target for the company. JPMorgan Chase & Co. reduced their price target on Columbia Banking System from $26.50 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, July 1st. Wells Fargo & Company lifted their price objective on Columbia Banking System from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 29th. Citigroup reiterated a “neutral” rating and issued a $26.00 price objective (up from $22.00) on shares of Columbia Banking System in a report on Monday, July 28th. Finally, Cowen initiated coverage on Columbia Banking System in a report on Wednesday, September 24th. They issued a “hold” rating for the company. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Columbia Banking System currently has an average rating of “Hold” and a consensus target price of $29.33.

Columbia Banking System Stock Performance

Shares of NASDAQ:COLB opened at $24.07 on Friday. The stock has a market capitalization of $5.06 billion, a price-to-earnings ratio of 9.55 and a beta of 0.60. The stock’s 50-day simple moving average is $26.08 and its two-hundred day simple moving average is $24.39. Columbia Banking System, Inc. has a 52-week low of $19.61 and a 52-week high of $32.85.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Monday, March 4th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter. The business had revenue of $348.47 million for the quarter. Columbia Banking System had a return on equity of 11.31% and a net margin of 17.98%. As a group, equities analysts forecast that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The business 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. The ex-dividend date was Friday, August 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 6.0%. Columbia Banking System’s payout ratio is 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.