Columbia Banking System, Inc. $COLB Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 8.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 79,604 shares of the financial services provider’s stock after purchasing an additional 6,132 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Columbia Banking System were worth $1,861,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of COLB. Verdence Capital Advisors LLC lifted its stake in Columbia Banking System by 2.0% during the 2nd quarter. Verdence Capital Advisors LLC now owns 20,714 shares of the financial services provider’s stock worth $484,000 after acquiring an additional 403 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in Columbia Banking System by 0.9% during the 1st quarter. Louisiana State Employees Retirement System now owns 58,700 shares of the financial services provider’s stock worth $1,464,000 after acquiring an additional 500 shares in the last quarter. State of Michigan Retirement System lifted its stake in Columbia Banking System by 1.0% during the 1st quarter. State of Michigan Retirement System now owns 50,141 shares of the financial services provider’s stock worth $1,251,000 after acquiring an additional 500 shares in the last quarter. Xponance Inc. lifted its stake in Columbia Banking System by 2.2% during the 1st quarter. Xponance Inc. now owns 24,313 shares of the financial services provider’s stock worth $606,000 after acquiring an additional 517 shares in the last quarter. Finally, Mengis Capital Management Inc. lifted its stake in Columbia Banking System by 1.1% during the 2nd quarter. Mengis Capital Management Inc. now owns 50,511 shares of the financial services provider’s stock worth $1,181,000 after acquiring an additional 529 shares in the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Columbia Banking System Stock Performance

Shares of NASDAQ COLB opened at $26.80 on Friday. Columbia Banking System, Inc. has a fifty-two week low of $19.61 and a fifty-two week high of $32.85. The firm has a market capitalization of $5.64 billion, a PE ratio of 10.63 and a beta of 0.60. The stock’s 50-day simple moving average is $26.11 and its 200-day simple moving average is $24.71.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Monday, March 4th. The financial services provider reported $0.76 earnings per share for the quarter. Columbia Banking System had a return on equity of 11.31% and a net margin of 17.98%.The business had revenue of $348.47 million for the quarter. On average, sell-side 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 firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend was Friday, August 29th. Columbia Banking System’s dividend payout ratio (DPR) is 64.86%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on COLB shares. Raymond James Financial raised Columbia Banking System from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $27.00 to $31.00 in a research note on Monday, September 15th. Citigroup increased their target price on Columbia Banking System from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Friday. Keefe, Bruyette & Woods raised Columbia Banking System from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $30.00 to $31.00 in a research note on Friday, October 10th. Royal Bank Of Canada increased their target price on Columbia Banking System from $27.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Friday, October 10th. Finally, Barclays decreased their target price on Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $29.54.

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.