Columbia Banking System, Inc. (NASDAQ:COLB) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC boosted its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 384.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,531 shares of the financial services provider's stock after buying an additional 51,212 shares during the quarter. Cerity Partners LLC's holdings in Columbia Banking System were worth $1,685,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in Columbia Banking System by 812.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,182,655 shares of the financial services provider's stock valued at $63,295,000 after buying an additional 2,833,744 shares in the last quarter. LSV Asset Management raised its position in shares of Columbia Banking System by 333.8% in the 2nd quarter. LSV Asset Management now owns 639,042 shares of the financial services provider's stock valued at $12,711,000 after purchasing an additional 491,742 shares during the last quarter. Stieven Capital Advisors L.P. acquired a new stake in Columbia Banking System in the 2nd quarter worth approximately $9,458,000. American Century Companies Inc. grew its position in Columbia Banking System by 6.7% during the 2nd quarter. American Century Companies Inc. now owns 6,191,704 shares of the financial services provider's stock worth $123,153,000 after purchasing an additional 386,751 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Columbia Banking System by 90.8% during the 2nd quarter. Renaissance Technologies LLC now owns 573,596 shares of the financial services provider's stock worth $11,409,000 after purchasing an additional 273,018 shares during the last quarter. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on COLB. Truist Financial raised their target price on Columbia Banking System from $28.00 to $30.00 and gave the stock a "hold" rating in a report on Monday, October 28th. Barclays lifted their target price on shares of Columbia Banking System from $25.00 to $29.00 and gave the company an "equal weight" rating in a report on Friday, October 25th. Royal Bank of Canada increased their price target on shares of Columbia Banking System from $29.00 to $31.00 and gave the stock a "sector perform" rating in a report on Friday, October 25th. Wells Fargo & Company lifted their price objective on shares of Columbia Banking System from $30.00 to $33.00 and gave the company an "equal weight" rating in a report on Tuesday. Finally, Wedbush increased their target price on shares of Columbia Banking System from $31.00 to $35.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $27.35.

Columbia Banking System Stock Down 1.0 %

Columbia Banking System stock traded down $0.32 during mid-day trading on Tuesday, hitting $30.55. The company had a trading volume of 1,406,747 shares, compared to its average volume of 2,216,616. The business has a fifty day moving average of $28.51 and a 200 day moving average of $24.31. Columbia Banking System, Inc. has a 1 year low of $17.08 and a 1 year high of $32.85. The stock has a market cap of $6.40 billion, a price-to-earnings ratio of 13.23 and a beta of 0.64.

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

Columbia Banking System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.71%. Columbia Banking System's payout ratio is 62.34%.

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.