Columbia Banking System, Inc. $COLB Shares Bought by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC grew its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 25.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 604,200 shares of the financial services provider’s stock after acquiring an additional 122,638 shares during the period. Ceredex Value Advisors LLC owned about 0.29% of Columbia Banking System worth $14,126,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Columbia Banking System during the second quarter worth $23,813,000. Quadrant Capital Group LLC boosted its position in shares of Columbia Banking System by 7.2% in the 2nd quarter. Quadrant Capital Group LLC now owns 37,440 shares of the financial services provider’s stock worth $875,000 after buying an additional 2,503 shares in the last quarter. Clifford Capital Partners LLC acquired a new stake in Columbia Banking System in the 2nd quarter valued at about $7,379,000. Jefferies Financial Group Inc. acquired a new position in Columbia Banking System during the second quarter worth about $234,000. Finally, Prudential Financial Inc. lifted its holdings in shares of Columbia Banking System by 1,773.2% in the second quarter. Prudential Financial Inc. now owns 767,114 shares of the financial services provider’s stock valued at $17,935,000 after purchasing an additional 726,163 shares in the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Zacks Research downgraded Columbia Banking System from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Piper Sandler set a $33.00 price target on Columbia Banking System in a research report on Monday, November 3rd. 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 report on Monday, September 15th. Cowen initiated coverage on Columbia Banking System in a research report on Wednesday, September 24th. They set a “hold” rating for the company. Finally, Keefe, Bruyette & Woods upgraded shares of Columbia Banking System from a “market perform” rating to an “outperform” rating and upped their target price for the company from $30.00 to $31.00 in a report on Friday, October 10th. 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’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $29.38.

Columbia Banking System Price Performance

COLB opened at $27.79 on Friday. Columbia Banking System, Inc. has a 12 month low of $19.61 and a 12 month high of $31.61. The business has a 50-day moving average of $26.29 and a two-hundred day moving average of $25.24. The stock has a market capitalization of $8.31 billion, a price-to-earnings ratio of 11.03 and a beta of 0.67.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Monday, March 4th. The financial services provider reported $0.76 EPS for the quarter. The business had revenue of $348.47 million during the quarter. Columbia Banking System had a return on equity of 11.31% and a net margin of 17.98%. Equities research analysts anticipate that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 5.3%. The ex-dividend date is Friday, November 28th. This is a positive change from Columbia Banking System’s previous quarterly dividend of $0.36. Columbia Banking System’s dividend payout ratio (DPR) is presently 66.67%.

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.