Fisher Asset Management LLC Has $46.81 Million Stake in Columbia Banking System, Inc. $COLB

Fisher Asset Management LLC trimmed its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 8.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,002,014 shares of the financial services provider’s stock after selling 175,987 shares during the period. Fisher Asset Management LLC owned approximately 0.95% of Columbia Banking System worth $46,807,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of COLB. Verdence Capital Advisors LLC boosted its stake in shares of 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 valued at $484,000 after buying an additional 403 shares during the period. Mengis Capital Management Inc. increased its stake in shares of Columbia Banking System by 1.1% in the second 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 during the last quarter. Blue Trust Inc. raised its holdings in shares of Columbia Banking System by 26.6% during the second quarter. Blue Trust Inc. now owns 2,718 shares of the financial services provider’s stock worth $64,000 after acquiring an additional 571 shares in the last quarter. UMB Bank n.a. boosted its position in 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 purchasing an additional 623 shares during the last quarter. Finally, Bessemer Group Inc. boosted its position in Columbia Banking System by 53.5% during the second quarter. Bessemer Group Inc. now owns 1,790 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 624 shares during the last quarter. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Columbia Banking System Stock Performance

Shares of COLB opened at $27.67 on Wednesday. The company has a market cap of $8.28 billion, a price-to-earnings ratio of 12.46 and a beta of 0.62. The stock has a fifty day moving average price of $26.35 and a two-hundred day moving average price of $25.28. Columbia Banking System, Inc. has a 52-week low of $19.61 and a 52-week high of $31.34.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Monday, March 4th. The financial services provider reported $0.76 earnings per share for the quarter. Columbia Banking System had a net margin of 15.98% and a return on equity of 11.13%. The firm had revenue of $348.47 million during the quarter. As a group, research analysts predict that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, November 28th. This is an increase from Columbia Banking System’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a yield of 5.3%. Columbia Banking System’s payout ratio is presently 66.67%.

Analysts Set New Price Targets

Several research firms have commented on COLB. Raymond James Financial raised shares of Columbia Banking System from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $27.00 to $31.00 in a research report on Monday, September 15th. Piper Sandler set a $33.00 price objective on shares of Columbia Banking System in a report on Monday, November 3rd. Barclays decreased their price target on Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. Royal Bank Of Canada boosted their price objective on shares of 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, Keefe, Bruyette & Woods raised shares of Columbia Banking System from a “market perform” rating to an “outperform” rating and upped their price objective for the stock 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 assigned a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $29.38.

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.