Columbia Banking System, Inc. (NASDAQ:COLB) Stock Holdings Boosted by Eagle Asset Management Inc.

Eagle Asset Management Inc. increased its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 3.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 397,612 shares of the financial services provider’s stock after acquiring an additional 12,381 shares during the period. Eagle Asset Management Inc.’s holdings in Columbia Banking System were worth $10,382,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. First Hawaiian Bank increased its stake in shares of Columbia Banking System by 81.4% in the second quarter. First Hawaiian Bank now owns 52,594 shares of the financial services provider’s stock valued at $1,046,000 after purchasing an additional 23,597 shares during the period. Vanguard Group Inc. grew its holdings in Columbia Banking System by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 22,327,719 shares of the financial services provider’s stock worth $432,041,000 after buying an additional 574,509 shares in the last quarter. Interval Partners LP acquired a new stake in Columbia Banking System in the 1st quarter valued at approximately $1,829,000. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Columbia Banking System by 1.6% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,330,133 shares of the financial services provider’s stock valued at $46,346,000 after acquiring an additional 36,867 shares in the last quarter. Finally, Leuthold Group LLC acquired a new position in Columbia Banking System during the 3rd quarter worth $3,181,000. 92.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on COLB. JPMorgan Chase & Co. lowered their price target on Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Wells Fargo & Company boosted their price target 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. Truist Financial increased their price objective on shares of Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a report on Monday, October 28th. StockNews.com raised Columbia Banking System from a “sell” rating to a “hold” rating in a report on Saturday, October 5th. Finally, Raymond James increased their price target on Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $27.12.

Columbia Banking System Stock Up 3.2 %

NASDAQ:COLB opened at $31.64 on Friday. The stock has a fifty day simple moving average of $27.78 and a 200 day simple moving average of $23.81. The firm has a market capitalization of $6.63 billion, a price-to-earnings ratio of 13.70 and a beta of 0.62. Columbia Banking System, Inc. has a 1-year low of $17.08 and a 1-year high of $31.86.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.62 by $0.07. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. The company had revenue of $765.06 million during the quarter, compared to analysts’ expectations of $478.80 million. During the same period last year, the company posted $0.79 earnings per share. Equities analysts predict that Columbia Banking System, Inc. will post 2.63 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend is Friday, November 29th. Columbia Banking System’s payout ratio is 62.34%.

About Columbia Banking System

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.