Columbia Banking System, Inc. (NASDAQ:COLB) Stake Raised by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 15.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 716,673 shares of the financial services provider's stock after buying an additional 97,498 shares during the period. JPMorgan Chase & Co. owned about 0.34% of Columbia Banking System worth $18,712,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in shares of Columbia Banking System by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,109,253 shares of the financial services provider's stock worth $185,623,000 after acquiring an additional 178,327 shares during the last quarter. Wellington Management Group LLP increased its holdings in Columbia Banking System by 31.9% during the 3rd 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 last quarter. American Century Companies Inc. increased its holdings 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. Dimensional Fund Advisors LP raised its position in shares of Columbia Banking System by 812.2% in 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 purchasing an additional 2,833,744 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Columbia Banking System by 1.6% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,330,133 shares of the financial services provider's stock valued at $46,346,000 after buying an additional 36,867 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company's stock.

Wall Street Analyst Weigh In

COLB has been the subject of a number of research analyst reports. Barclays lifted their price target on shares of Columbia Banking System from $29.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 5th. Raymond James increased their price target on shares of Columbia Banking System from $26.00 to $28.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 2nd. StockNews.com raised Columbia Banking System from a "sell" rating to a "hold" rating in a report on Saturday, October 5th. JPMorgan Chase & Co. cut their price objective on Columbia Banking System from $32.00 to $30.00 and set a "neutral" rating on the stock in a research note on Tuesday. Finally, Truist Financial lifted their target price on Columbia Banking System from $28.00 to $30.00 and gave the stock a "hold" rating in a research report on Monday, October 28th. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Columbia Banking System currently has an average rating of "Hold" and an average target price of $29.31.

Columbia Banking System Price Performance

Shares of COLB traded down $0.91 during trading hours on Friday, reaching $26.25. 1,176,645 shares of the company's stock traded hands, compared to its average volume of 1,185,539. Columbia Banking System, Inc. has a twelve month low of $17.08 and a twelve month high of $32.85. The business's fifty day simple moving average is $29.27 and its two-hundred day simple moving average is $26.04. The firm has a market capitalization of $5.50 billion, a price-to-earnings ratio of 11.36 and a beta of 0.67.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.62 by $0.07. The firm had revenue of $765.06 million for 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 quarter last year, the company earned $0.79 EPS. On average, equities research analysts expect that Columbia Banking System, Inc. will post 2.63 EPS for the current year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a $0.36 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.44 dividend on an annualized basis and a yield of 5.49%. Columbia Banking System's dividend payout ratio (DPR) 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.