Victory Capital Management Inc. Has $3.53 Million Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

Victory Capital Management Inc. trimmed its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 19.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 135,322 shares of the financial services provider's stock after selling 31,874 shares during the quarter. Victory Capital Management Inc. owned approximately 0.06% of Columbia Banking System worth $3,533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Allworth Financial LP boosted its stake in shares of Columbia Banking System by 0.3% during the 3rd quarter. Allworth Financial LP now owns 175,538 shares of the financial services provider's stock worth $4,583,000 after acquiring an additional 458 shares in the last quarter. Sippican Capital Advisors increased its position in Columbia Banking System by 0.5% in the 3rd quarter. Sippican Capital Advisors now owns 111,172 shares of the financial services provider's stock worth $2,903,000 after buying an additional 552 shares during the period. Signaturefd LLC lifted its holdings in shares of Columbia Banking System by 14.0% during the third quarter. Signaturefd LLC now owns 5,767 shares of the financial services provider's stock worth $151,000 after buying an additional 709 shares during the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of Columbia Banking System by 2.9% during the third quarter. Bleakley Financial Group LLC now owns 25,111 shares of the financial services provider's stock worth $656,000 after buying an additional 718 shares during the last quarter. Finally, Abich Financial Wealth Management LLC boosted its position in shares of Columbia Banking System by 85.1% in the first quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 1,020 shares during the period. Institutional investors own 92.53% of the company's stock.

Columbia Banking System Stock Up 3.2 %

COLB stock traded up $0.97 during midday trading on Friday, reaching $31.64. 1,334,107 shares of the company's stock traded hands, compared to its average volume of 1,564,862. The company has a 50-day simple moving average of $27.78 and a two-hundred day simple moving average of $23.84. Columbia Banking System, Inc. has a 1-year low of $17.08 and a 1-year high of $31.86. The company has a market cap of $6.63 billion, a price-to-earnings ratio of 13.70 and a beta of 0.62.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.07. The business had revenue of $765.06 million during the quarter, compared to analysts' expectations of $478.80 million. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. During the same period in the previous year, the business posted $0.79 earnings per share. Equities research analysts forecast that Columbia Banking System, Inc. will post 2.63 EPS for the current year.

Columbia Banking System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.36 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.44 annualized dividend and a dividend yield of 4.55%. Columbia Banking System's dividend payout ratio (DPR) is currently 62.34%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Friday, October 25th. StockNews.com upgraded shares of Columbia Banking System from a "sell" rating to a "hold" rating in a report on Saturday, October 5th. Royal Bank of Canada upped their price objective on shares of Columbia Banking System from $29.00 to $31.00 and gave the company a "sector perform" rating in a research report on Friday, October 25th. JPMorgan Chase & Co. decreased their target price on Columbia Banking System from $29.00 to $28.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 9th. Finally, Truist Financial upped their price target on Columbia Banking System from $28.00 to $30.00 and gave the company a "hold" rating in a report on Monday, October 28th. 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 a consensus price target of $27.12.

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.