KBC Group NV Has $3.23 Million Position in Columbia Banking System, Inc. (NASDAQ:COLB)

KBC Group NV increased its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 385.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 119,549 shares of the financial services provider's stock after acquiring an additional 94,916 shares during the period. KBC Group NV owned 0.06% of Columbia Banking System worth $3,229,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in COLB. Sanctuary Advisors LLC bought a new stake in Columbia Banking System during the third quarter valued at about $288,000. Nordea Investment Management AB boosted its stake in Columbia Banking System by 82.0% during the 4th quarter. Nordea Investment Management AB now owns 391,286 shares of the financial services provider's stock valued at $10,592,000 after purchasing an additional 176,334 shares during the period. JPMorgan Chase & Co. grew its holdings in Columbia Banking System by 15.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 716,673 shares of the financial services provider's stock valued at $18,712,000 after buying an additional 97,498 shares during the last quarter. Pathstone Holdings LLC increased its position in Columbia Banking System by 45.7% in the 3rd quarter. Pathstone Holdings LLC now owns 120,888 shares of the financial services provider's stock worth $3,156,000 after buying an additional 37,941 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Columbia Banking System by 439.5% during the third quarter. BNP Paribas Financial Markets now owns 79,877 shares of the financial services provider's stock worth $2,086,000 after buying an additional 65,072 shares during the last quarter. 92.53% of the stock is owned by institutional investors.

Columbia Banking System Trading Up 2.6 %

Shares of Columbia Banking System stock traded up $0.70 during mid-day trading on Tuesday, reaching $28.04. 1,172,735 shares of the stock were exchanged, compared to its average volume of 1,444,952. Columbia Banking System, Inc. has a fifty-two week low of $17.08 and a fifty-two week high of $32.85. The company has a market cap of $5.88 billion, a price-to-earnings ratio of 11.04 and a beta of 0.66. The firm has a 50-day simple moving average of $28.35 and a 200 day simple moving average of $27.04.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.71 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.06. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. On average, research analysts predict that Columbia Banking System, Inc. will post 2.74 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.14%. The ex-dividend date was Friday, November 29th. Columbia Banking System's dividend payout ratio (DPR) is presently 56.69%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on COLB. Barclays raised their price objective 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. Wedbush raised their price target on shares of Columbia Banking System from $31.00 to $35.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. Stephens cut their price objective on shares of Columbia Banking System from $33.00 to $31.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 28th. Truist Financial boosted their price target on Columbia Banking System from $28.00 to $30.00 and gave the company a "hold" rating in a research note on Monday, October 28th. Finally, UBS Group initiated coverage on Columbia Banking System in a research report on Tuesday, December 17th. They issued a "neutral" rating and a $32.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Columbia Banking System has a consensus rating of "Hold" and an average target price of $30.38.

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.