Columbia Banking System, Inc. (NASDAQ:COLB) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 2.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,109,253 shares of the financial services provider's stock after buying an additional 178,327 shares during the quarter. Charles Schwab Investment Management Inc. owned about 3.39% of Columbia Banking System worth $185,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Columbia Banking System by 2.6% during the first quarter. Vanguard Group Inc. now owns 22,327,719 shares of the financial services provider's stock valued at $432,041,000 after purchasing an additional 574,509 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Columbia Banking System in the 1st quarter valued at $867,000. Price T Rowe Associates Inc. MD grew its stake in Columbia Banking System by 6.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 108,148 shares of the financial services provider's stock valued at $2,093,000 after purchasing an additional 6,351 shares during the last quarter. Silvercrest Asset Management Group LLC grew its position in shares of Columbia Banking System by 21.4% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 4,468,643 shares of the financial services provider's stock worth $86,468,000 after buying an additional 788,383 shares during the last quarter. Finally, Interval Partners LP purchased a new position in Columbia Banking System in the first quarter worth $1,829,000. Institutional investors own 92.53% of the company's stock.

Columbia Banking System Trading Up 3.2 %

COLB stock traded up $0.97 during midday trading on Friday, hitting $31.64. 1,334,107 shares of the company's stock were exchanged, compared to its average volume of 1,564,862. The business has a 50-day simple moving average of $27.78 and a two-hundred day simple moving average of $23.84. The stock has a market capitalization of $6.63 billion, a PE ratio of 13.70 and a beta of 0.62. Columbia Banking System, Inc. has a 1-year low of $17.08 and a 1-year high of $31.86.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.07. The firm 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 prior year, the company earned $0.79 EPS. As a group, research analysts expect that Columbia Banking System, Inc. will post 2.63 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

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

Analyst Ratings Changes

COLB has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Columbia Banking System from $29.00 to $28.00 and set a "neutral" rating for the company in a research report on Wednesday, October 9th. Raymond James raised their target price on Columbia Banking System from $26.00 to $28.00 and gave the stock an "outperform" rating in a report on Wednesday, October 2nd. Royal Bank of Canada lifted their price objective on shares of Columbia Banking System from $29.00 to $31.00 and gave the company a "sector perform" rating in a report on Friday, October 25th. StockNews.com upgraded Columbia Banking System from a "sell" rating to a "hold" rating in a research report on Saturday, October 5th. Finally, Wedbush lifted their target price on shares of Columbia Banking System from $31.00 to $35.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Columbia Banking System currently has an average 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.