Columbia Banking System, Inc. (NASDAQ:COLB) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. lifted its position in shares of Columbia Banking System, Inc. (NASDAQ:COLBGet Rating) by 16.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,361,099 shares of the financial services provider’s stock after buying an additional 605,659 shares during the quarter. Franklin Resources Inc. owned approximately 0.06% of Columbia Banking System worth $124,946,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mutual of America Capital Management LLC raised its stake in Columbia Banking System by 5.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 11,201 shares of the financial services provider’s stock valued at $361,000 after purchasing an additional 580 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Columbia Banking System by 14.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 84,082 shares of the financial services provider’s stock valued at $2,713,000 after purchasing an additional 10,373 shares during the last quarter. Victory Capital Management Inc. raised its stake in Columbia Banking System by 23.5% in the 1st quarter. Victory Capital Management Inc. now owns 413,663 shares of the financial services provider’s stock valued at $12,005,000 after purchasing an additional 78,788 shares during the last quarter. Prospera Financial Services Inc acquired a new position in Columbia Banking System in the 1st quarter valued at about $129,000. Finally, Advisor Group Holdings Inc. raised its stake in Columbia Banking System by 19.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 12,359 shares of the financial services provider’s stock valued at $518,000 after purchasing an additional 2,021 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Columbia Banking System Trading Down 0.5 %

NASDAQ COLB opened at $33.76 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.66 and a quick ratio of 0.66. Columbia Banking System, Inc. has a 12 month low of $26.97 and a 12 month high of $37.65. The company has a market cap of $2.66 billion, a P/E ratio of 11.76 and a beta of 0.68. The company has a 50-day moving average of $31.60 and a 200-day moving average of $30.34.

Columbia Banking System Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 28th. Stockholders of record on Monday, October 17th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date was Friday, October 14th. Columbia Banking System’s payout ratio is currently 41.81%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Royal Bank of Canada upped their price objective on shares of Columbia Banking System from $34.00 to $35.00 and gave the company a “sector perform” rating in a research note on Friday, October 21st. StockNews.com assumed coverage on shares of Columbia Banking System in a research note on Wednesday, October 12th. They set a “hold” rating for the company.

Columbia Banking System Company Profile

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Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in the United States. It offers personal banking products and services, including noninterest and interest-bearing checking, savings, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and other personal loans; debit and credit cards; and digital banking services.

Further Reading

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

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