Columbia Banking System, Inc. $COLB Stock Holdings Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 145.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,019,088 shares of the financial services provider’s stock after purchasing an additional 4,157,835 shares during the period. Bank of New York Mellon Corp owned 3.34% of Columbia Banking System worth $180,671,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Columbia Banking System during the second quarter worth $2,187,000. Massachusetts Financial Services Co. MA grew its stake in Columbia Banking System by 25.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,495,780 shares of the financial services provider’s stock valued at $192,941,000 after purchasing an additional 1,497,177 shares in the last quarter. Highland Capital Management LLC acquired a new position in Columbia Banking System in the 3rd quarter worth about $4,461,000. Louisiana State Employees Retirement System raised its stake in shares of Columbia Banking System by 40.8% during the 3rd quarter. Louisiana State Employees Retirement System now owns 83,200 shares of the financial services provider’s stock worth $2,142,000 after purchasing an additional 24,100 shares in the last quarter. Finally, HoldCo Asset Management LP acquired a new stake in shares of Columbia Banking System during the 2nd quarter valued at about $104,819,000. 92.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on COLB. Keefe, Bruyette & Woods increased their price objective on Columbia Banking System from $31.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. TD Cowen restated a “hold” rating on shares of Columbia Banking System in a research note on Wednesday, January 7th. Citigroup lifted their price objective on shares of Columbia Banking System from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday. UBS Group reissued a “neutral” rating and set a $30.00 target price on shares of Columbia Banking System in a research report on Tuesday, January 6th. Finally, Royal Bank Of Canada boosted their price target on Columbia Banking System from $30.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, Columbia Banking System currently has an average rating of “Hold” and a consensus target price of $31.65.

Columbia Banking System Stock Up 1.4%

COLB stock opened at $29.44 on Friday. Columbia Banking System, Inc. has a twelve month low of $19.61 and a twelve month high of $31.11. The company has a market cap of $8.81 billion, a PE ratio of 13.03 and a beta of 0.60. The business’s 50-day simple moving average is $28.66 and its 200 day simple moving average is $26.75.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.10. Columbia Banking System had a return on equity of 11.40% and a net margin of 17.11%.The company had revenue of $715.00 million during the quarter, compared to the consensus estimate of $693.23 million. During the same quarter last year, the company earned $0.71 EPS. On average, equities research analysts anticipate that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were issued a $0.37 dividend. This is a boost from Columbia Banking System’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, November 28th. This represents a $1.48 annualized dividend and a yield of 5.0%. Columbia Banking System’s payout ratio is presently 65.49%.

About Columbia Banking System

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.