American Century Companies Inc. Raises Stock Position in Columbia Banking System, Inc. $COLB

American Century Companies Inc. increased its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 11.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,016,178 shares of the financial services provider’s stock after purchasing an additional 1,067,491 shares during the quarter. American Century Companies Inc. owned 4.76% of Columbia Banking System worth $257,816,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. True Wealth Design LLC grew its holdings in Columbia Banking System by 612.8% during the 3rd quarter. True Wealth Design LLC now owns 1,005 shares of the financial services provider’s stock valued at $26,000 after buying an additional 864 shares during the last quarter. West Oak Capital LLC acquired a new position in shares of Columbia Banking System in the third quarter worth $28,000. Quent Capital LLC acquired a new position in shares of Columbia Banking System in the third quarter worth $29,000. First Horizon Corp purchased a new stake in shares of Columbia Banking System in the third quarter valued at $31,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of 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 acquiring an additional 794 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on COLB. Keefe, Bruyette & Woods lifted their price target on shares of Columbia Banking System from $31.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Royal Bank Of Canada upped their price objective on shares of Columbia Banking System from $30.00 to $32.00 and gave the company a “sector perform” rating in a research note on Friday, January 23rd. DA Davidson lifted their target price on shares of Columbia Banking System from $30.00 to $32.50 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. UBS Group reiterated a “neutral” rating and issued a $33.00 price target on shares of Columbia Banking System in a report on Wednesday, February 4th. Finally, Citigroup boosted their price target on Columbia Banking System from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Columbia Banking System currently has an average rating of “Hold” and a consensus target price of $32.04.

Columbia Banking System Price Performance

NASDAQ:COLB opened at $28.45 on Friday. The business’s 50-day moving average is $29.66 and its two-hundred day moving average is $27.73. The firm has a market capitalization of $8.51 billion, a PE ratio of 12.59 and a beta of 0.61. Columbia Banking System, Inc. has a 12 month low of $19.61 and a 12 month high of $32.70.

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

Columbia Banking System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Friday, February 27th. Columbia Banking System’s dividend payout ratio (DPR) is 65.49%.

Insiders Place Their Bets

In other news, Director Steven R. Gardner sold 13,725 shares of Columbia Banking System stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $29.43, for a total value of $403,926.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.68% of the stock is currently owned by corporate insiders.

Columbia Banking System Profile

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.