Creative Planning Has $837,000 Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Creative Planning boosted its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 39.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 42,063 shares of the financial services provider’s stock after acquiring an additional 11,836 shares during the quarter. Creative Planning’s holdings in Columbia Banking System were worth $837,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Retirement Systems of Alabama raised its position in Columbia Banking System by 0.3% during the first quarter. Retirement Systems of Alabama now owns 261,930 shares of the financial services provider’s stock valued at $5,068,000 after acquiring an additional 700 shares in the last quarter. Abich Financial Wealth Management LLC raised its position in Columbia Banking System by 85.1% during the first quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 1,020 shares in the last quarter. Arizona State Retirement System raised its position in Columbia Banking System by 1.9% during the second quarter. Arizona State Retirement System now owns 58,406 shares of the financial services provider’s stock valued at $1,162,000 after acquiring an additional 1,085 shares in the last quarter. State of Michigan Retirement System raised its position in Columbia Banking System by 2.4% during the first quarter. State of Michigan Retirement System now owns 51,241 shares of the financial services provider’s stock valued at $992,000 after acquiring an additional 1,200 shares in the last quarter. Finally, CWM LLC raised its position in Columbia Banking System by 20.9% during the first quarter. CWM LLC now owns 7,312 shares of the financial services provider’s stock valued at $141,000 after acquiring an additional 1,263 shares in the last quarter. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Price Performance

COLB opened at $26.90 on Friday. Columbia Banking System, Inc. has a fifty-two week low of $17.08 and a fifty-two week high of $28.11. The firm’s fifty day moving average price is $24.67 and its two-hundred day moving average price is $21.61. The company has a market capitalization of $5.64 billion, a P/E ratio of 11.90 and a beta of 0.64.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. Columbia Banking System had a net margin of 15.94% and a return on equity of 10.89%. The firm had revenue of $472.15 million for the quarter, compared to the consensus estimate of $476.01 million. During the same quarter in the previous year, the company earned $0.81 earnings per share. The business’s revenue was down 9.8% compared to the same quarter last year. On average, equities research analysts expect that Columbia Banking System, Inc. will post 2.55 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 23rd were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.44 dividend on an annualized basis and a yield of 5.35%. Columbia Banking System’s dividend payout ratio is currently 63.72%.

Wall Street Analysts Forecast Growth

COLB has been the topic of a number of recent analyst reports. Barclays lifted their price target on shares of Columbia Banking System from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. StockNews.com raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Saturday, October 5th. JPMorgan Chase & Co. dropped their price target on shares of Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday. Wedbush raised shares of Columbia Banking System from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $28.00 to $31.00 in a research report on Tuesday, September 24th. Finally, Stephens lifted their price target on shares of Columbia Banking System from $22.00 to $26.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $25.81.

Columbia Banking System 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.