Columbia Banking System, Inc. $COLB Shares Bought by Amalgamated Bank

Amalgamated Bank lifted its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLBFree Report) by 42.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,370 shares of the financial services provider’s stock after acquiring an additional 40,435 shares during the quarter. Amalgamated Bank owned 0.06% of Columbia Banking System worth $3,510,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. True Wealth Design LLC lifted its holdings in shares of Columbia Banking System by 612.8% during the third quarter. True Wealth Design LLC now owns 1,005 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 864 shares during the last quarter. West Oak Capital LLC acquired a new stake in Columbia Banking System during the 3rd quarter worth about $28,000. Quent Capital LLC purchased a new stake in Columbia Banking System during the third quarter valued at about $29,000. Geneos Wealth Management Inc. lifted its stake in 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 buying an additional 794 shares in the last quarter. Finally, First Horizon Corp acquired a new position in shares of Columbia Banking System in the third quarter worth about $31,000. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Columbia Banking System

Here are the key news stories impacting Columbia Banking System this week:

Columbia Banking System Stock Performance

Shares of NASDAQ COLB opened at $29.67 on Friday. The business has a 50 day simple moving average of $28.34 and a 200 day simple moving average of $26.58. Columbia Banking System, Inc. has a 52 week low of $19.61 and a 52 week high of $30.28. The stock has a market cap of $8.87 billion, a price-to-earnings ratio of 13.36 and a beta of 0.60.

Columbia Banking System (NASDAQ:COLBGet Free Report) last issued its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.10. The firm had revenue of $715.00 million for the quarter, compared to analyst estimates of $693.23 million. Columbia Banking System had a net margin of 15.98% and a return on equity of 11.13%. During the same quarter last year, the firm earned $0.71 earnings per share. On average, analysts predict that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend was Friday, November 28th. This is a boost from Columbia Banking System’s previous quarterly dividend of $0.36. Columbia Banking System’s dividend payout ratio (DPR) is presently 66.67%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on COLB. UBS Group restated a “neutral” rating and set a $30.00 price target on shares of Columbia Banking System in a report on Tuesday, January 6th. JPMorgan Chase & Co. boosted their target price on shares of Columbia Banking System from $31.00 to $33.00 and gave the company a “neutral” rating in a research note on Tuesday, December 16th. Barclays increased their target price on Columbia Banking System from $29.00 to $30.00 and gave the company an “equal weight” rating in a report on Friday, December 19th. Royal Bank Of Canada set a $30.00 price target on Columbia Banking System and gave the company a “sector perform” rating in a report on Monday, January 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Columbia Banking System in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $30.08.

View Our Latest Analysis on COLB

Columbia Banking System Profile

(Free Report)

Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.

The company’s offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.

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Institutional Ownership by Quarter for Columbia Banking System (NASDAQ:COLB)

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