Dimensional Fund Advisors LP increased its holdings in Columbia Banking System Inc (NASDAQ:COLB) by 2.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,137,911 shares of the financial services provider’s stock after buying an additional 78,971 shares during the quarter. Dimensional Fund Advisors LP owned about 4.28% of Columbia Banking System worth $121,655,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of COLB. BlackRock Inc. boosted its stake in Columbia Banking System by 3.8% during the 3rd quarter. BlackRock Inc. now owns 10,518,708 shares of the financial services provider’s stock valued at $407,811,000 after purchasing an additional 381,970 shares in the last quarter. Northern Trust Corp boosted its stake in Columbia Banking System by 1.4% during the 2nd quarter. Northern Trust Corp now owns 1,449,181 shares of the financial services provider’s stock valued at $59,271,000 after purchasing an additional 20,630 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Columbia Banking System by 1.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,035,848 shares of the financial services provider’s stock valued at $40,160,000 after purchasing an additional 15,511 shares in the last quarter. Boston Partners boosted its stake in Columbia Banking System by 2.3% during the 2nd quarter. Boston Partners now owns 510,513 shares of the financial services provider’s stock valued at $20,880,000 after purchasing an additional 11,260 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Columbia Banking System by 9.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 457,052 shares of the financial services provider’s stock valued at $18,694,000 after purchasing an additional 38,422 shares in the last quarter. 88.84% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Andy Mcdonald sold 3,074 shares of the stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $38.33, for a total transaction of $117,826.42. Following the completion of the sale, the executive vice president now owns 35,589 shares in the company, valued at approximately $1,364,126.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.23% of the stock is currently owned by corporate insiders.
COLB has been the subject of a number of research reports. Zacks Investment Research raised Columbia Banking System from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Monday, October 29th. Piper Jaffray Companies set a $48.00 price objective on Columbia Banking System and gave the company a “buy” rating in a research report on Saturday, October 27th. Sandler O’Neill upgraded Columbia Banking System from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research report on Monday, November 12th. DA Davidson increased their price objective on Columbia Banking System from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 30th. Finally, BidaskClub upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $44.67.
Shares of NASDAQ:COLB opened at $38.46 on Friday. Columbia Banking System Inc has a one year low of $31.35 and a one year high of $46.71. The firm has a market cap of $2.82 billion, a PE ratio of 16.32, a P/E/G ratio of 2.18 and a beta of 1.04. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82.
Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Columbia Banking System had a net margin of 25.35% and a return on equity of 8.66%. The company had revenue of $143.82 million for the quarter, compared to analyst estimates of $143.24 million. On average, equities research analysts expect that Columbia Banking System Inc will post 2.53 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 21st. Stockholders of record on Wednesday, November 7th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, November 6th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.70%. Columbia Banking System’s dividend payout ratio (DPR) is presently 47.49%.
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Columbia Banking System Company Profile
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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