Signaturefd LLC Acquires 709 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Signaturefd LLC increased its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 14.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,767 shares of the financial services provider’s stock after acquiring an additional 709 shares during the period. Signaturefd LLC’s holdings in Columbia Banking System were worth $151,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of COLB. Vanguard Group Inc. boosted its stake in shares of 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 valued at $432,041,000 after purchasing an additional 574,509 shares during the period. American Century Companies Inc. lifted its holdings in 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 valued at $123,153,000 after buying an additional 386,751 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Columbia Banking System by 0.5% in the 2nd 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 buying an additional 23,963 shares during the period. Silvercrest Asset Management Group LLC grew its stake in Columbia Banking System by 21.4% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 4,468,643 shares of the financial services provider’s stock worth $86,468,000 after acquiring an additional 788,383 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Columbia Banking System by 812.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,182,655 shares of the financial services provider’s stock worth $63,295,000 after acquiring an additional 2,833,744 shares during the period. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Analyst Upgrades and Downgrades

COLB has been the subject of a number of research reports. Wedbush boosted their price target on Columbia Banking System from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Friday. Truist Financial lowered their target price on Columbia Banking System from $29.00 to $28.00 and set a “hold” rating for the company in a report on Friday, September 20th. JPMorgan Chase & Co. dropped their price target on 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. Royal Bank of Canada lifted their price objective on Columbia Banking System from $29.00 to $31.00 and gave the company a “sector perform” rating in a report on Friday. Finally, Wells Fargo & Company increased their target price on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Friday. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $26.96.

Columbia Banking System Stock Down 1.3 %

Shares of COLB opened at $27.90 on Monday. The company has a 50 day moving average of $25.49 and a two-hundred day moving average of $22.26. Columbia Banking System, Inc. has a twelve month low of $17.08 and a twelve month high of $28.62. The company has a market cap of $5.84 billion, a price-to-earnings ratio of 11.97 and a beta of 0.64.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results 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 10.89% and a net margin of 15.94%. The firm had revenue of $765.06 million for the quarter, compared to the consensus estimate of $478.80 million. During the same period in the previous year, the business earned $0.79 EPS. On average, sell-side analysts expect that Columbia Banking System, Inc. will post 2.55 EPS for the current year.

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.44 annualized dividend and a dividend yield of 5.16%. Columbia Banking System’s dividend payout ratio (DPR) is currently 61.80%.

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.