Columbia Banking System, Inc. (NASDAQ:COLB) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 15.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 716,673 shares of the financial services provider’s stock after purchasing an additional 97,498 shares during the period. JPMorgan Chase & Co. owned approximately 0.34% of Columbia Banking System worth $18,712,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC grew its holdings in Columbia Banking System by 54.9% during the third quarter. GAMMA Investing LLC now owns 3,640 shares of the financial services provider’s stock worth $95,000 after acquiring an additional 1,290 shares during the period. Farther Finance Advisors LLC boosted its position in Columbia Banking System by 1,507.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,855 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 4,553 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in Columbia Banking System by 26.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,209 shares of the financial services provider’s stock worth $136,000 after purchasing an additional 1,091 shares in the last quarter. Signaturefd LLC grew its stake in shares of Columbia Banking System by 14.0% during the 3rd quarter. Signaturefd LLC now owns 5,767 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 709 shares during the period. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in shares of Columbia Banking System during the 3rd quarter valued at approximately $208,000. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Barclays raised their price target 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. UBS Group initiated coverage on Columbia Banking System in a research report on Tuesday, December 17th. They set a “neutral” rating and a $32.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday. Royal Bank of Canada raised 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, October 25th. Finally, Truist Financial upped their target price on Columbia Banking System from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $29.31.

Columbia Banking System Stock Performance

NASDAQ:COLB opened at $27.16 on Friday. Columbia Banking System, Inc. has a one year low of $17.08 and a one year high of $32.85. The stock has a market cap of $5.69 billion, a PE ratio of 11.76 and a beta of 0.67. The stock has a 50 day moving average price of $29.27 and a 200 day moving average price of $26.04.

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 the consensus estimate of $0.62 by $0.07. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. The business had revenue of $765.06 million for the quarter, compared to analyst estimates of $478.80 million. During the same quarter in the previous year, the firm earned $0.79 EPS. As a group, analysts predict that Columbia Banking System, Inc. will post 2.63 earnings per share 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. Investors of record on Friday, November 29th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date was Friday, November 29th. Columbia Banking System’s payout ratio is 62.34%.

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.