BNP PARIBAS ASSET MANAGEMENT Holding S.A. Increases Position in Columbia Banking System, Inc. (NASDAQ:COLB)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 23.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 530,997 shares of the financial services provider's stock after purchasing an additional 99,296 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.25% of Columbia Banking System worth $13,864,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Picton Mahoney Asset Management purchased a new stake in shares of Columbia Banking System during the second quarter valued at $33,000. Abich Financial Wealth Management LLC grew its holdings in shares of Columbia Banking System by 85.1% during the first quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider's stock valued at $43,000 after buying an additional 1,020 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Columbia Banking System by 144.0% in the second quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 1,387 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Columbia Banking System by 111.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider's stock worth $52,000 after purchasing an additional 1,380 shares during the period. Finally, Hexagon Capital Partners LLC grew its position in Columbia Banking System by 137,166.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 4,118 shares of the financial services provider's stock worth $82,000 after purchasing an additional 4,115 shares during the period. 92.53% of the stock is owned by institutional investors and hedge funds.

Columbia Banking System Stock Up 3.2 %

COLB traded up $0.97 on Friday, reaching $31.64. The company had a trading volume of 1,334,107 shares, compared to its average volume of 1,564,862. Columbia Banking System, Inc. has a 1 year low of $17.08 and a 1 year high of $31.86. The stock has a market capitalization of $6.63 billion, a PE ratio of 13.70 and a beta of 0.62. The stock has a 50-day moving average price of $27.78 and a 200-day moving average price of $23.84.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.07. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. The firm had revenue of $765.06 million during the quarter, compared to analysts' expectations of $478.80 million. During the same period in the previous year, the company earned $0.79 earnings per share. As a group, analysts expect that Columbia Banking System, Inc. will post 2.63 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.36 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.55%. Columbia Banking System's payout ratio is 62.34%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on COLB shares. Barclays increased their price target on Columbia Banking System from $25.00 to $29.00 and gave the stock an "equal weight" rating in a research report on Friday, October 25th. Wells Fargo & Company increased their price target on Columbia Banking System from $28.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Friday, October 25th. StockNews.com raised Columbia Banking System from a "sell" rating to a "hold" rating in a research report on Saturday, October 5th. Raymond James raised their target price on Columbia Banking System from $26.00 to $28.00 and gave the company an "outperform" rating in a research report on Wednesday, October 2nd. Finally, Truist Financial raised their target price on Columbia Banking System from $28.00 to $30.00 and gave the company a "hold" rating in a research report on Monday, October 28th. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $27.12.

Columbia Banking System Company Profile

Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.