WINTON GROUP Ltd bought a new position in shares of Columbia Banking System, Inc. (NASDAQ:COLB – Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 423,672 shares of the financial services provider’s stock, valued at approximately $11,842,000.
Several other large investors also recently bought and sold shares of the stock. Principal Financial Group Inc. raised its position in shares of Columbia Banking System by 39.4% in the third quarter. Principal Financial Group Inc. now owns 664,110 shares of the financial services provider’s stock valued at $17,094,000 after purchasing an additional 187,551 shares during the period. JPMorgan Chase & Co. raised its position in shares of Columbia Banking System by 14.1% in the third quarter. JPMorgan Chase & Co. now owns 7,536,008 shares of the financial services provider’s stock valued at $193,977,000 after purchasing an additional 929,862 shares during the period. Savant Capital LLC grew its stake in shares of Columbia Banking System by 78.9% in the third quarter. Savant Capital LLC now owns 69,234 shares of the financial services provider’s stock worth $1,782,000 after acquiring an additional 30,537 shares during the last quarter. Linden Thomas Advisory Services LLC grew its stake in shares of Columbia Banking System by 66.5% in the third quarter. Linden Thomas Advisory Services LLC now owns 121,972 shares of the financial services provider’s stock worth $3,140,000 after acquiring an additional 48,702 shares during the last quarter. Finally, HoldCo Asset Management LP grew its stake in shares of Columbia Banking System by 27.6% in the third quarter. HoldCo Asset Management LP now owns 5,722,786 shares of the financial services provider’s stock worth $147,305,000 after acquiring an additional 1,239,489 shares during the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.
Columbia Banking System Price Performance
COLB opened at $29.66 on Friday. Columbia Banking System, Inc. has a fifty-two week low of $21.91 and a fifty-two week high of $32.70. The firm’s fifty day moving average price is $29.04 and its two-hundred day moving average price is $28.84. The company has a market capitalization of $8.59 billion, a P/E ratio of 11.82 and a beta of 0.63.
Columbia Banking System Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.37 per share. The ex-dividend date is Friday, May 29th. This represents a $1.48 dividend on an annualized basis and a yield of 5.0%. Columbia Banking System’s payout ratio is currently 58.96%.
Wall Street Analysts Forecast Growth
COLB has been the topic of several research analyst reports. Weiss Ratings upgraded shares of Columbia Banking System from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, April 1st. Piper Sandler raised their price objective on shares of Columbia Banking System from $34.00 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Wells Fargo & Company raised their price objective on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Monday, March 30th. Barclays lowered their price objective on shares of Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 7th. Finally, Citigroup raised their price objective on shares of Columbia Banking System from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, Columbia Banking System has an average rating of “Hold” and a consensus price target of $32.13.
View Our Latest Stock Report on Columbia Banking System
Columbia Banking System Profile
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.
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