Columbia Banking System, Inc. (NASDAQ:COLB) Shares Bought by Jane Street Group LLC

Jane Street Group LLC boosted its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 219.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 212,889 shares of the financial services provider's stock after buying an additional 146,219 shares during the period. Jane Street Group LLC owned 0.10% of Columbia Banking System worth $5,559,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of 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 worth $63,295,000 after acquiring an additional 2,833,744 shares during the period. Wellington Management Group LLP raised its stake in Columbia Banking System by 31.9% during the third quarter. Wellington Management Group LLP now owns 6,659,255 shares of the financial services provider's stock worth $173,873,000 after purchasing an additional 1,611,563 shares during the period. Basswood Capital Management L.L.C. purchased a new position in Columbia Banking System during the third quarter worth about $26,593,000. Holocene Advisors LP boosted its holdings in Columbia Banking System by 1,001.8% in the 3rd quarter. Holocene Advisors LP now owns 962,330 shares of the financial services provider's stock valued at $25,126,000 after purchasing an additional 874,986 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Columbia Banking System by 33.1% in the 3rd quarter. Janus Henderson Group PLC now owns 2,263,432 shares of the financial services provider's stock valued at $59,099,000 after buying an additional 562,467 shares during the period. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Columbia Banking System Stock Performance

Shares of COLB traded up $0.37 during midday trading on Monday, hitting $29.74. The company had a trading volume of 1,380,727 shares, compared to its average volume of 2,182,096. Columbia Banking System, Inc. has a 1 year low of $17.08 and a 1 year high of $32.85. The firm has a market capitalization of $6.23 billion, a P/E ratio of 12.87 and a beta of 0.64. The company's 50-day simple moving average is $29.35 and its 200-day simple moving average is $25.06.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last released its quarterly earnings data 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 business had revenue of $765.06 million during the quarter, compared to analysts' expectations of $478.80 million. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. During the same period in the previous year, the company earned $0.79 EPS. Equities analysts predict 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 disclosed 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 4.84%. Columbia Banking System's payout ratio is currently 62.34%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Barclays upped their price objective on Columbia Banking System from $29.00 to $33.00 and gave the company an "equal weight" rating in a report on Thursday, December 5th. Wedbush upped their price target on Columbia Banking System from $31.00 to $35.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Raymond James increased their price target on Columbia Banking System from $26.00 to $28.00 and gave the stock an "outperform" rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their price objective on shares of Columbia Banking System from $29.00 to $28.00 and set a "neutral" rating on the stock in a report on Wednesday, October 9th. Finally, Royal Bank of Canada lifted their price target on shares of Columbia Banking System from $29.00 to $31.00 and gave the company a "sector perform" rating in a research report on Friday, October 25th. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $28.19.

Columbia Banking System 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.