Municipal Employees Retirement System of Michigan raised its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 59.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,890 shares of the financial services provider’s stock after buying an additional 8,160 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Columbia Banking System were worth $922,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. New York State Common Retirement Fund increased its stake in Columbia Banking System by 12.7% during the 3rd quarter. New York State Common Retirement Fund now owns 88,153 shares of the financial services provider’s stock valued at $3,712,000 after buying an additional 9,918 shares during the period. Sei Investments Co. grew its stake in shares of Columbia Banking System by 10.0% in the 3rd quarter. Sei Investments Co. now owns 13,070 shares of the financial services provider’s stock worth $551,000 after purchasing an additional 1,183 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Columbia Banking System by 82.2% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 33,910 shares of the financial services provider’s stock worth $1,428,000 after purchasing an additional 15,298 shares during the last quarter. Boston Partners grew its stake in shares of Columbia Banking System by 4.7% in the 3rd quarter. Boston Partners now owns 537,430 shares of the financial services provider’s stock worth $22,631,000 after purchasing an additional 24,004 shares during the last quarter. Finally, AMG National Trust Bank grew its stake in shares of Columbia Banking System by 26.5% in the 3rd quarter. AMG National Trust Bank now owns 26,267 shares of the financial services provider’s stock worth $1,106,000 after purchasing an additional 5,498 shares during the last quarter. 77.28% of the stock is currently owned by hedge funds and other institutional investors.

Columbia Banking System, Inc. (NASDAQ COLB) opened at $43.69 on Friday. The firm has a market cap of $3,189.83, a P/E ratio of 19.86, a PEG ratio of 1.99 and a beta of 1.24. Columbia Banking System, Inc. has a 1 year low of $35.67 and a 1 year high of $45.68.

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, October 26th. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.18. The business had revenue of $126.00 million for the quarter, compared to the consensus estimate of $119.16 million. Columbia Banking System had a net margin of 27.72% and a return on equity of 9.93%. The firm’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period last year, the firm posted $0.47 earnings per share. sell-side analysts anticipate that Columbia Banking System, Inc. will post 2.2 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Monday, October 30th. Columbia Banking System’s dividend payout ratio (DPR) is currently 40.00%.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub cut shares of Columbia Banking System from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Piper Jaffray Companies raised shares of Columbia Banking System from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $43.00 to $46.00 in a research note on Monday, July 31st. DA Davidson reaffirmed a “buy” rating and issued a $48.00 price objective (up previously from $45.00) on shares of Columbia Banking System in a research note on Tuesday, October 17th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $42.00 price objective on shares of Columbia Banking System in a research note on Friday, September 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Columbia Banking System has an average rating of “Hold” and a consensus price target of $45.60.

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About Columbia Banking System

Columbia Banking System, Inc (Columbia) is a bank holding company for Columbia State Bank (the Bank) and Columbia Trust Company (Columbia Trust). The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals. It offers products and services, which include Personal Banking, Business Banking and Wealth Management.

Institutional Ownership by Quarter for Columbia Banking System (NASDAQ:COLB)

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