Bank of New York Mellon Corp Acquires 23,963 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Bank of New York Mellon Corp grew its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,718,494 shares of the financial services provider's stock after buying an additional 23,963 shares during the quarter. Bank of New York Mellon Corp owned about 2.25% of Columbia Banking System worth $93,851,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in COLB. Vanguard Group Inc. boosted its position in shares of Columbia Banking System by 2.6% during the 1st 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 in the last quarter. Franklin Resources Inc. lifted its position in shares of 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 valued at $207,809,000 after acquiring an additional 700,643 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of 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 valued at $122,158,000 after acquiring an additional 637,212 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its stake in shares of Columbia Banking System by 21.4% during 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 acquiring an additional 788,383 shares in the last quarter. Finally, Epoch Investment Partners Inc. grew its holdings in shares of Columbia Banking System by 1.3% in 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 acquiring an additional 36,507 shares during the last quarter. 92.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Royal Bank of Canada increased their price target on Columbia Banking System from $21.00 to $26.00 and gave the company a "sector perform" rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods raised their target price on shares of Columbia Banking System from $23.00 to $27.00 and gave the stock a "market perform" rating in a report on Friday, July 26th. Truist Financial boosted their price target on shares of Columbia Banking System from $20.00 to $29.00 and gave the company a "hold" rating in a report on Monday, July 29th. Wells Fargo & Company raised their price objective on shares of Columbia Banking System from $22.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Columbia Banking System from $22.00 to $29.00 and gave the company a "neutral" rating in a research note on Tuesday, July 30th. Twelve investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Columbia Banking System presently has an average rating of "Hold" and an average price target of $25.04.

Columbia Banking System Stock Performance

Shares of Columbia Banking System stock traded up $0.16 during trading on Thursday, hitting $25.00. 2,173,937 shares of the stock traded hands, compared to its average volume of 2,431,286. The stock has a market cap of $5.23 billion, a P/E ratio of 10.73 and a beta of 0.65. The company has a fifty day moving average price of $22.68 and a two-hundred day moving average price of $20.19. Columbia Banking System, Inc. has a twelve month low of $17.08 and a twelve month high of $28.11.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.10. The firm had revenue of $472.15 million during the quarter, compared to analysts' expectations of $476.01 million. Columbia Banking System had a net margin of 15.94% and a return on equity of 10.89%. The company's revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.81 earnings per share. On average, equities research analysts expect that Columbia Banking System, Inc. will post 2.51 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 9th. Investors of record on Friday, August 23rd will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 5.76%. The ex-dividend date is Friday, August 23rd. Columbia Banking System's dividend payout ratio is presently 61.80%.

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.