147,300 Shares in Columbia Banking System, Inc. (NASDAQ:COLB) Purchased by LSV Asset Management

LSV Asset Management purchased a new position in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 147,300 shares of the financial services provider's stock, valued at approximately $2,850,000. LSV Asset Management owned approximately 0.07% of Columbia Banking System at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Columbia Banking System by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 21,753,210 shares of the financial services provider's stock worth $580,376,000 after acquiring an additional 123,120 shares in the last quarter. Franklin Resources Inc. grew its position in Columbia Banking System by 9.9% during the 4th quarter. Franklin Resources Inc. now owns 7,788,928 shares of the financial services provider's stock worth $207,809,000 after purchasing an additional 700,643 shares during the last quarter. Wellington Management Group LLP grew its position in Columbia Banking System by 16.2% during the 4th quarter. Wellington Management Group LLP now owns 4,578,618 shares of the financial services provider's stock worth $122,158,000 after purchasing an additional 637,212 shares during the last quarter. Epoch Investment Partners Inc. grew its position in Columbia Banking System by 1.3% during the 4th quarter. Epoch Investment Partners Inc. now owns 2,777,708 shares of the financial services provider's stock worth $74,109,000 after purchasing an additional 36,507 shares during the last quarter. Finally, Pzena Investment Management LLC grew its position in Columbia Banking System by 29.8% during the 1st quarter. Pzena Investment Management LLC now owns 2,456,438 shares of the financial services provider's stock worth $47,532,000 after purchasing an additional 563,674 shares during the last quarter. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Columbia Banking System Stock Performance

COLB stock traded up $0.86 during trading on Monday, reaching $22.30. 2,492,602 shares of the company were exchanged, compared to its average volume of 2,527,143. The company has a market cap of $4.67 billion, a P/E ratio of 9.57 and a beta of 0.66. Columbia Banking System, Inc. has a 52-week low of $17.08 and a 52-week high of $28.11. The stock's 50 day moving average price is $19.47 and its 200 day moving average price is $19.93.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.12. The firm had revenue of $473.72 million for the quarter, compared to the consensus estimate of $480.39 million. Columbia Banking System had a net margin of 16.52% and a return on equity of 11.58%. The firm's revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.46 earnings per share. As a group, equities research analysts forecast that Columbia Banking System, Inc. will post 2.44 EPS for the current year.

Columbia Banking System Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 24th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 6.46%. The ex-dividend date of this dividend was Thursday, May 23rd. Columbia Banking System's payout ratio is currently 61.80%.

Analyst Ratings Changes

Several brokerages have issued reports on COLB. StockNews.com downgraded shares of Columbia Banking System from a "hold" rating to a "sell" rating in a research report on Friday, June 28th. Truist Financial lowered their price objective on shares of Columbia Banking System from $22.00 to $20.00 and set a "hold" rating on the stock in a research report on Monday, April 1st. Royal Bank of Canada lowered their target price on shares of Columbia Banking System from $25.00 to $21.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 9th. Keefe, Bruyette & Woods lowered their target price on shares of Columbia Banking System from $25.00 to $23.00 and set a "market perform" rating on the stock in a report on Friday, April 5th. Finally, Wells Fargo & Company lowered their target price on shares of Columbia Banking System from $25.00 to $22.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $22.04.

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.