Vanguard Group Inc. Has $768.38 Million Stock Position in Columbia Banking System, Inc. $COLB

Vanguard Group Inc. increased its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 41.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,851,392 shares of the financial services provider’s stock after purchasing an additional 8,730,937 shares during the period. Vanguard Group Inc. owned approximately 14.19% of Columbia Banking System worth $768,375,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COLB. HoldCo Asset Management LP bought a new position in shares of Columbia Banking System in the second quarter worth about $104,819,000. Bank of New York Mellon Corp boosted its stake in shares of Columbia Banking System by 145.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,019,088 shares of the financial services provider’s stock valued at $180,671,000 after purchasing an additional 4,157,835 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Columbia Banking System by 25.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,495,780 shares of the financial services provider’s stock worth $192,941,000 after purchasing an additional 1,497,177 shares during the period. American Century Companies Inc. lifted its stake in shares of Columbia Banking System by 18.3% in the second quarter. American Century Companies Inc. now owns 8,948,687 shares of the financial services provider’s stock valued at $209,220,000 after buying an additional 1,381,597 shares in the last quarter. Finally, Norges Bank acquired a new position in Columbia Banking System during the 2nd quarter valued at about $23,813,000. 92.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Columbia Banking System news, Director Steven R. Gardner sold 13,725 shares of Columbia Banking System stock in a transaction on Friday, January 30th. The stock was sold at an average price of $29.43, for a total value of $403,926.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on COLB. Royal Bank Of Canada increased their price objective on shares of Columbia Banking System from $30.00 to $32.00 and gave the company a “sector perform” rating in a research note on Friday, January 23rd. Keefe, Bruyette & Woods lifted their price objective on shares of Columbia Banking System from $31.00 to $33.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Citigroup increased their price objective on Columbia Banking System from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, January 26th. TD Cowen reaffirmed a “hold” rating on shares of Columbia Banking System in a research note on Wednesday, January 7th. Finally, DA Davidson upped their target price on Columbia Banking System from $30.00 to $32.50 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Columbia Banking System currently has a consensus rating of “Hold” and a consensus target price of $31.88.

Columbia Banking System Price Performance

Shares of Columbia Banking System stock opened at $31.76 on Monday. The firm has a market cap of $9.50 billion, a price-to-earnings ratio of 14.05 and a beta of 0.61. The company has a 50-day moving average of $29.57 and a 200 day moving average of $27.56. Columbia Banking System, Inc. has a 1 year low of $19.61 and a 1 year high of $32.70.

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, January 22nd. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.72 by $0.10. The business had revenue of $715.00 million for the quarter, compared to the consensus estimate of $693.23 million. Columbia Banking System had a return on equity of 11.40% and a net margin of 17.11%.During the same period in the previous year, the company posted $0.71 earnings per share. On average, equities analysts anticipate that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be given a $0.37 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.48 annualized dividend and a yield of 4.7%. Columbia Banking System’s dividend payout ratio is 65.49%.

About Columbia Banking System

Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.

The company’s offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.