Columbia Banking System, Inc. (NASDAQ:COLB) Stake Increased by Fisher Asset Management LLC

Fisher Asset Management LLC increased its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 3.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,614,940 shares of the financial services provider’s stock after buying an additional 53,847 shares during the quarter. Fisher Asset Management LLC owned 0.77% of Columbia Banking System worth $42,166,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its position in Columbia Banking System by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,109,253 shares of the financial services provider’s stock worth $185,623,000 after acquiring an additional 178,327 shares during the period. American Century Companies Inc. boosted its holdings in shares of Columbia Banking System by 6.7% during the second quarter. American Century Companies Inc. now owns 6,191,704 shares of the financial services provider’s stock worth $123,153,000 after purchasing an additional 386,751 shares during the period. Bank of New York Mellon Corp grew its position in Columbia Banking System by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 4,718,494 shares of the financial services provider’s stock valued at $93,851,000 after purchasing an additional 23,963 shares in the last quarter. Dimensional Fund Advisors LP increased 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 buying an additional 2,833,744 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in Columbia Banking System by 1.6% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,330,133 shares of the financial services provider’s stock worth $46,346,000 after buying an additional 36,867 shares in the last quarter. 92.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on COLB shares. StockNews.com upgraded shares of Columbia Banking System from a “sell” rating to a “hold” rating in a report on Saturday, October 5th. Barclays upped their target price on Columbia Banking System from $25.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. reduced their price target on Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Wedbush increased their price objective on Columbia Banking System from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Truist Financial lifted their target price on shares of Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, October 28th. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the 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 Trading Down 0.9 %

NASDAQ:COLB opened at $31.72 on Wednesday. The firm has a market capitalization of $6.65 billion, a PE ratio of 13.73 and a beta of 0.62. Columbia Banking System, Inc. has a 1 year low of $17.08 and a 1 year high of $32.85. The firm’s fifty day simple moving average is $27.93 and its 200 day simple moving average is $23.92.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating 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 company had revenue of $765.06 million for the quarter, compared to the consensus estimate of $478.80 million. During the same period last year, the business posted $0.79 earnings per share. As a group, analysts anticipate that Columbia Banking System, Inc. will post 2.63 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.54%. Columbia Banking System’s dividend payout ratio (DPR) is presently 62.34%.

Columbia Banking System Company 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.