Bleakley Financial Group LLC Raises Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

Bleakley Financial Group LLC increased its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 5.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,362 shares of the financial services provider’s stock after acquiring an additional 1,251 shares during the period. Bleakley Financial Group LLC’s holdings in Columbia Banking System were worth $712,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of COLB. Sanctuary Advisors LLC acquired a new stake in shares of Columbia Banking System during the 3rd quarter worth approximately $288,000. Nordea Investment Management AB grew its position in Columbia Banking System by 82.0% during the fourth quarter. Nordea Investment Management AB now owns 391,286 shares of the financial services provider’s stock valued at $10,592,000 after buying an additional 176,334 shares during the period. JPMorgan Chase & Co. increased its holdings in Columbia Banking System by 15.7% in the third quarter. JPMorgan Chase & Co. now owns 716,673 shares of the financial services provider’s stock valued at $18,712,000 after buying an additional 97,498 shares in the last quarter. Pathstone Holdings LLC raised its position in shares of Columbia Banking System by 45.7% in the third quarter. Pathstone Holdings LLC now owns 120,888 shares of the financial services provider’s stock worth $3,156,000 after acquiring an additional 37,941 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in shares of Columbia Banking System by 439.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 79,877 shares of the financial services provider’s stock worth $2,086,000 after acquiring an additional 65,072 shares in the last quarter. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Columbia Banking System Price Performance

COLB opened at $27.79 on Monday. The company’s 50 day simple moving average is $28.16 and its two-hundred day simple moving average is $27.13. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of 10.94 and a beta of 0.66. Columbia Banking System, Inc. has a 1-year low of $17.08 and a 1-year high of $32.85.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. On average, equities analysts anticipate that Columbia Banking System, Inc. will post 2.72 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date of this dividend was Friday, November 29th. Columbia Banking System’s dividend payout ratio is currently 56.69%.

Analysts Set New Price Targets

Several brokerages recently weighed in on COLB. Truist Financial lifted their price target on Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, October 28th. Keefe, Bruyette & Woods reduced their target price on Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating for the company in a research note on Friday, January 24th. Royal Bank of Canada increased their target price on Columbia Banking System from $29.00 to $31.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Stephens cut their price target on shares of Columbia Banking System from $33.00 to $31.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Finally, Wells Fargo & Company raised shares of Columbia Banking System from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $33.00 to $35.00 in a report on Monday, January 6th. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $30.38.

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.