Pathstone Holdings LLC Purchases 37,941 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Pathstone Holdings LLC grew its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 45.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,888 shares of the financial services provider’s stock after acquiring an additional 37,941 shares during the period. Pathstone Holdings LLC’s holdings in Columbia Banking System were worth $3,156,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Columbia Banking System by 2.6% during the first quarter. Vanguard Group Inc. now owns 22,327,719 shares of the financial services provider’s stock worth $432,041,000 after purchasing an additional 574,509 shares during the period. American Century Companies Inc. boosted its stake in shares of Columbia Banking System by 6.7% during the 2nd quarter. American Century Companies Inc. now owns 6,191,704 shares of the financial services provider’s stock worth $123,153,000 after acquiring an additional 386,751 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Columbia Banking System by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,718,494 shares of the financial services provider’s stock worth $93,851,000 after acquiring an additional 23,963 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Columbia Banking System by 812.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,182,655 shares of the financial services provider’s stock valued at $63,295,000 after acquiring an additional 2,833,744 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its holdings 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 purchasing an additional 36,867 shares during the last quarter. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

COLB has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Barclays increased their target price on Columbia Banking System from $25.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Royal Bank of Canada increased their price objective on Columbia Banking System from $29.00 to $31.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Wedbush raised their price target on shares of Columbia Banking System from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, StockNews.com raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a report on Saturday, October 5th. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $27.12.

Columbia Banking System Price Performance

Shares of COLB opened at $31.64 on Monday. The firm has a 50 day simple moving average of $27.78 and a two-hundred day simple moving average of $23.84. The company has a market cap of $6.63 billion, a P/E ratio of 13.70 and a beta of 0.62. Columbia Banking System, Inc. has a one year low of $17.08 and a one year high of $31.86.

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

Columbia Banking System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.55%. The ex-dividend date is Friday, November 29th. Columbia Banking System’s dividend payout ratio (DPR) is presently 62.34%.

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.