Sanctuary Advisors LLC Takes $288,000 Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Sanctuary Advisors LLC acquired a new position in Columbia Banking System, Inc. (NASDAQ:COLB) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 11,015 shares of the financial services provider’s stock, valued at approximately $288,000.

A number of other institutional investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its position in shares of Columbia Banking System by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,109,253 shares of the financial services provider’s stock worth $185,623,000 after purchasing an additional 178,327 shares during the period. Wellington Management Group LLP raised its position in shares of Columbia Banking System by 31.9% in the 3rd quarter. Wellington Management Group LLP now owns 6,659,255 shares of the financial services provider’s stock valued at $173,873,000 after buying an additional 1,611,563 shares in the last quarter. American Century Companies Inc. lifted its holdings 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. Dimensional Fund Advisors LP boosted its position in shares of Columbia Banking System by 812.2% during the 2nd 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 in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its stake in Columbia Banking System by 1.6% in the second 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 acquiring an additional 36,867 shares during the last quarter. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Trading Down 1.3 %

Shares of Columbia Banking System stock opened at $27.14 on Friday. The business has a 50-day moving average price of $29.43 and a two-hundred day moving average price of $25.51. Columbia Banking System, Inc. has a 1-year low of $17.08 and a 1-year high of $32.85. The company has a market cap of $5.69 billion, a P/E ratio of 11.75 and a beta of 0.64.

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

Columbia Banking System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a dividend of $0.36 per share. The ex-dividend date was Friday, November 29th. This represents a $1.44 annualized dividend and a yield of 5.31%. Columbia Banking System’s payout ratio is 62.34%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. UBS Group began coverage on Columbia Banking System in a research note on Tuesday, December 17th. They set a “neutral” rating and a $32.00 target price for the company. Keefe, Bruyette & Woods increased their target price on shares of Columbia Banking System from $30.00 to $34.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Barclays raised their target price on shares of Columbia Banking System from $29.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Wells Fargo & Company increased their target price on Columbia Banking System from $30.00 to $33.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Finally, StockNews.com raised Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $29.00.

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.