Vanguard Personalized Indexing Management LLC Acquires 21,586 Shares of Columbia Banking System, Inc. $COLB

Vanguard Personalized Indexing Management LLC increased its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 58.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,319 shares of the financial services provider’s stock after buying an additional 21,586 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Columbia Banking System were worth $1,504,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. HoldCo Asset Management LP bought a new stake in shares of Columbia Banking System during the 2nd quarter worth approximately $104,819,000. Massachusetts Financial Services Co. MA increased its holdings in Columbia Banking System by 25.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,495,780 shares of the financial services provider’s stock worth $192,941,000 after purchasing an additional 1,497,177 shares in the last quarter. American Century Companies Inc. raised its holdings in Columbia Banking System by 18.3% in the 2nd quarter. American Century Companies Inc. now owns 8,948,687 shares of the financial services provider’s stock valued at $209,220,000 after buying an additional 1,381,597 shares during the last quarter. Norges Bank acquired a new position in shares of Columbia Banking System during the second quarter worth $23,813,000. Finally, Prudential Financial Inc. increased its stake 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 buying an additional 726,163 shares during the period. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Price Performance

Columbia Banking System stock opened at $29.44 on Friday. The firm has a market capitalization of $8.81 billion, a P/E ratio of 13.03 and a beta of 0.60. Columbia Banking System, Inc. has a one year low of $19.61 and a one year high of $31.11. The business has a fifty day moving average price of $28.66 and a 200-day moving average price of $26.77.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results 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 analysts’ expectations of $693.23 million. Columbia Banking System had a return on equity of 11.40% and a net margin of 17.11%.During the same period in the prior year, the business posted $0.71 earnings per share. Sell-side analysts expect that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal 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 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 an increase from Columbia Banking System’s previous quarterly dividend of $0.36. Columbia Banking System’s payout ratio is 65.49%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on COLB shares. JPMorgan Chase & Co. lifted their target price on shares of Columbia Banking System from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 16th. Piper Sandler upped their target price on Columbia Banking System from $34.50 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, January 26th. Citigroup raised their price target on shares of Columbia Banking System from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, January 26th. Stephens upped their target price on shares of Columbia Banking System from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Finally, UBS Group reiterated a “neutral” rating and set a $30.00 price target on shares of Columbia Banking System in a report on Tuesday, January 6th. One equities research 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $31.65.

Columbia Banking System Company 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.