Columbia Banking System, Inc. (COLB) Position Raised by Eaton Vance Management

Eaton Vance Management boosted its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 5.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 302,484 shares of the financial services provider’s stock after purchasing an additional 14,829 shares during the period. Eaton Vance Management’s holdings in Columbia Banking System were worth $12,689,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of the stock. BlackRock Inc. lifted its stake in Columbia Banking System by 27.4% in the 4th quarter. BlackRock Inc. now owns 9,307,225 shares of the financial services provider’s stock valued at $404,306,000 after purchasing an additional 2,002,968 shares during the last quarter. Franklin Resources Inc. lifted its stake in Columbia Banking System by 2.2% in the 4th quarter. Franklin Resources Inc. now owns 2,688,586 shares of the financial services provider’s stock valued at $116,792,000 after purchasing an additional 57,000 shares during the last quarter. Cardinal Capital Management LLC CT lifted its stake in Columbia Banking System by 0.3% in the 4th quarter. Cardinal Capital Management LLC CT now owns 2,218,622 shares of the financial services provider’s stock valued at $96,377,000 after purchasing an additional 6,077 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Columbia Banking System by 0.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,212,513 shares of the financial services provider’s stock valued at $96,112,000 after purchasing an additional 17,757 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Columbia Banking System by 11.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,150,303 shares of the financial services provider’s stock valued at $49,968,000 after purchasing an additional 121,284 shares during the last quarter. Institutional investors and hedge funds own 87.25% of the company’s stock.

COLB has been the subject of several recent analyst reports. BidaskClub downgraded shares of Columbia Banking System from a “hold” rating to a “sell” rating in a research note on Tuesday, January 23rd. Royal Bank of Canada reiterated a “hold” rating and issued a $46.00 target price on shares of Columbia Banking System in a research note on Friday, January 26th. Sandler O’Neill reissued a “hold” rating and issued a $48.00 price target on shares of Columbia Banking System in a report on Friday, January 26th. Piper Jaffray set a $52.00 price target on shares of Columbia Banking System and gave the company a “buy” rating in a report on Tuesday, January 30th. Finally, Zacks Investment Research cut shares of Columbia Banking System from a “buy” rating to a “hold” rating in a report on Friday, March 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Columbia Banking System currently has an average rating of “Hold” and a consensus price target of $47.50.

Columbia Banking System stock opened at $42.90 on Thursday. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 18.44, a P/E/G ratio of 1.65 and a beta of 1.07. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.04. Columbia Banking System, Inc. has a twelve month low of $42.29 and a twelve month high of $42.64.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, April 26th. The financial services provider reported $0.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.07). The company had revenue of $138.62 million during the quarter, compared to the consensus estimate of $142.70 million. Columbia Banking System had a net margin of 24.05% and a return on equity of 9.04%. During the same period in the prior year, the company earned $0.50 earnings per share. equities analysts forecast that Columbia Banking System, Inc. will post 2.58 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 23rd. Shareholders of record on Wednesday, May 9th will be issued a $0.26 dividend. This is a boost from Columbia Banking System’s previous quarterly dividend of $0.22. This represents a $1.04 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Tuesday, May 8th. Columbia Banking System’s dividend payout ratio is currently 47.49%.

In other Columbia Banking System news, CFO Clint Stein sold 2,300 shares of the stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $44.16, for a total value of $101,568.00. Following the transaction, the chief financial officer now directly owns 26,610 shares of the company’s stock, valued at approximately $1,175,097.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.23% of the stock is owned by corporate insiders.

About Columbia Banking System

Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in Washington, Oregon, and Idaho. It offers personal banking products and services, including noninterest and interest-bearing checking, saving, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and personal loans; debit and credit cards; and digital banking services.

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

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