Columbia Banking System, Inc. (NASDAQ:COLB) Shares Bought by Systematic Financial Management LP

Systematic Financial Management LP raised its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 29.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,164,810 shares of the financial services provider's stock after acquiring an additional 265,681 shares during the quarter. Systematic Financial Management LP owned approximately 0.56% of Columbia Banking System worth $30,413,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its holdings in Columbia Banking System by 6.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 108,148 shares of the financial services provider's stock worth $2,093,000 after purchasing an additional 6,351 shares in the last quarter. GAMMA Investing LLC increased its position in Columbia Banking System by 144.0% during the 2nd quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider's stock valued at $47,000 after buying an additional 1,387 shares in the last quarter. CWM LLC raised its stake in Columbia Banking System by 84.2% in the second quarter. CWM LLC now owns 13,468 shares of the financial services provider's stock valued at $268,000 after buying an additional 6,156 shares during the last quarter. Simplicity Wealth LLC boosted its holdings in Columbia Banking System by 12.0% in the second quarter. Simplicity Wealth LLC now owns 24,393 shares of the financial services provider's stock worth $485,000 after acquiring an additional 2,617 shares in the last quarter. Finally, Hexagon Capital Partners LLC raised its position in shares of Columbia Banking System by 137,166.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 4,118 shares of the financial services provider's stock valued at $82,000 after purchasing an additional 4,115 shares during the last quarter. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Columbia Banking System Stock Down 0.1 %

NASDAQ:COLB traded down $0.03 on Thursday, hitting $30.19. The stock had a trading volume of 796,877 shares, compared to its average volume of 2,206,553. The company has a fifty day moving average price of $28.69 and a two-hundred day moving average price of $24.42. The stock has a market cap of $6.33 billion, a price-to-earnings ratio of 13.08 and a beta of 0.64. Columbia Banking System, Inc. has a 1-year low of $17.08 and a 1-year high of $32.85.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.07. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. The business had revenue of $765.06 million during the quarter, compared to analysts' expectations of $478.80 million. During the same period in the prior year, the business posted $0.79 EPS. As a group, analysts anticipate that Columbia Banking System, Inc. will post 2.63 earnings per share for the current year.

Columbia Banking System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend is Friday, November 29th. Columbia Banking System's dividend payout ratio is currently 62.34%.

Analyst Ratings Changes

COLB has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price target on shares of Columbia Banking System from $30.00 to $33.00 and gave the stock an "equal weight" rating in a report on Tuesday. Royal Bank of Canada raised their price objective on Columbia Banking System from $29.00 to $31.00 and gave the stock a "sector perform" rating in a research note on Friday, October 25th. Truist Financial upped their price target on shares of Columbia Banking System from $28.00 to $30.00 and gave the company a "hold" rating in a report on Monday, October 28th. StockNews.com upgraded Columbia Banking System from a "sell" rating to a "hold" rating in a research note on Saturday, October 5th. Finally, Barclays boosted their price target on Columbia Banking System from $29.00 to $33.00 and gave the company an "equal weight" rating in a report on Thursday. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $28.19.

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.