Cooke & Bieler LP Lowers Position in Columbia Banking System, Inc. $COLB

Cooke & Bieler LP decreased its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,145,351 shares of the financial services provider’s stock after selling 5,290 shares during the quarter. Cooke & Bieler LP owned 1.02% of Columbia Banking System worth $50,158,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. lifted its stake in shares of Columbia Banking System by 194.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 794 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Columbia Banking System in the 1st quarter valued at $37,000. Bessemer Group Inc. lifted its stake in shares of Columbia Banking System by 53.5% in the 2nd quarter. Bessemer Group Inc. now owns 1,790 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 624 shares during the period. Financial Harvest LLC acquired a new position in shares of Columbia Banking System in the 1st quarter valued at $53,000. Finally, UMB Bank n.a. lifted its stake in shares of Columbia Banking System by 38.1% in the 2nd quarter. UMB Bank n.a. now owns 2,259 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 623 shares during the period. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Columbia Banking System Stock Up 3.0%

COLB opened at $26.80 on Friday. Columbia Banking System, Inc. has a twelve month low of $19.61 and a twelve month high of $32.85. The company has a 50-day moving average price of $26.11 and a 200 day moving average price of $24.69. The company has a market cap of $5.64 billion, a PE ratio of 10.63 and a beta of 0.60.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Monday, March 4th. The financial services provider reported $0.76 earnings per share for the quarter. Columbia Banking System had a net margin of 17.98% and a return on equity of 11.31%. The firm had revenue of $348.47 million during the quarter. As a group, sell-side analysts expect that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend was Friday, August 29th. Columbia Banking System’s dividend payout ratio is currently 64.86%.

Analysts Set New Price Targets

COLB has been the subject of several analyst reports. TD Cowen initiated coverage on shares of Columbia Banking System in a research note on Thursday, September 25th. They issued a “hold” rating and a $28.00 target price for the company. Royal Bank Of Canada boosted their target price on shares of Columbia Banking System from $27.00 to $28.00 and gave the company a “sector perform” rating in a research note on Friday, October 10th. Keefe, Bruyette & Woods raised Columbia Banking System from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $30.00 to $31.00 in a research note on Friday, October 10th. Barclays reduced their target price on Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Columbia Banking System in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $29.54.

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.