Boston Partners Has $29.85 Million Holdings in Columbia Banking System, Inc. $COLB

Boston Partners trimmed its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 0.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,269,820 shares of the financial services provider’s stock after selling 4,791 shares during the period. Boston Partners’ holdings in Columbia Banking System were worth $29,850,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Allworth Financial LP lifted its stake in shares of Columbia Banking System by 3.4% in the second quarter. Allworth Financial LP now owns 199,213 shares of the financial services provider’s stock valued at $4,658,000 after buying an additional 6,465 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in Columbia Banking System in the 2nd quarter valued at approximately $2,187,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Columbia Banking System in the 2nd quarter worth approximately $303,000. Wedbush Securities Inc. grew its holdings in shares of Columbia Banking System by 11.8% during the 2nd quarter. Wedbush Securities Inc. now owns 9,492 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Savant Capital LLC grew its holdings in shares of Columbia Banking System by 157.2% during the 2nd quarter. Savant Capital LLC now owns 38,697 shares of the financial services provider’s stock worth $905,000 after purchasing an additional 23,652 shares in the last quarter. Institutional investors own 92.53% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Keefe, Bruyette & Woods upgraded Columbia Banking System from a “market perform” rating to an “outperform” rating and upped their target price for the company from $30.00 to $31.00 in a research note on Friday, October 10th. TD Cowen began coverage on shares of Columbia Banking System in a report on Thursday, September 25th. They issued a “hold” rating and a $28.00 price target on the stock. Citigroup increased their price objective on shares of Columbia Banking System from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Piper Sandler set a $33.00 target price on shares of Columbia Banking System in a research report on Monday, November 3rd. Finally, Zacks Research cut shares of Columbia Banking System from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Columbia Banking System currently has a consensus rating of “Hold” and a consensus target price of $29.38.

Columbia Banking System Stock Performance

Shares of NASDAQ COLB opened at $27.14 on Thursday. Columbia Banking System, Inc. has a 52-week low of $19.61 and a 52-week high of $32.85. The business has a fifty day moving average of $26.09 and a two-hundred day moving average of $24.95. The stock has a market cap of $5.71 billion, a PE ratio of 10.77 and a beta of 0.67.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Monday, March 4th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter. Columbia Banking System had a net margin of 17.98% and a return on equity of 11.31%. The business had revenue of $348.47 million during the quarter. Analysts predict that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a $0.36 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.3%. Columbia Banking System’s payout ratio is 64.86%.

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.