Savant Capital LLC Boosts Stock Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Savant Capital LLC boosted its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 6.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,045 shares of the financial services provider’s stock after purchasing an additional 919 shares during the quarter. Savant Capital LLC’s holdings in Columbia Banking System were worth $433,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its holdings in Columbia Banking System by 2.6% during the 3rd 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 last quarter. Wellington Management Group LLP increased its holdings in Columbia Banking System by 31.9% during the 3rd quarter. Wellington Management Group LLP now owns 6,659,255 shares of the financial services provider’s stock worth $173,873,000 after purchasing an additional 1,611,563 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Columbia Banking System by 33.1% during the 3rd quarter. Janus Henderson Group PLC now owns 2,263,432 shares of the financial services provider’s stock worth $59,099,000 after purchasing an additional 562,467 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Columbia Banking System by 3.4% during the 3rd quarter. Fisher Asset Management LLC now owns 1,614,940 shares of the financial services provider’s stock worth $42,166,000 after purchasing an additional 53,847 shares during the last quarter. Finally, Segall Bryant & Hamill LLC increased its holdings in Columbia Banking System by 14.2% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,534,798 shares of the financial services provider’s stock worth $40,074,000 after purchasing an additional 190,311 shares during the last quarter. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Columbia Banking System Stock Performance

Shares of COLB stock opened at $27.41 on Monday. Columbia Banking System, Inc. has a 1 year low of $17.08 and a 1 year high of $32.85. The stock has a fifty day moving average of $27.87 and a two-hundred day moving average of $27.19. The firm has a market capitalization of $5.74 billion, a PE ratio of 10.79 and a beta of 0.66.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. Equities research analysts predict that Columbia Banking System, Inc. will post 2.72 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 5.25%. Columbia Banking System’s dividend payout ratio (DPR) is presently 56.69%.

Analysts Set New Price Targets

COLB has been the subject of a number of research analyst reports. Wells Fargo & Company upgraded Columbia Banking System from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $33.00 to $35.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods lowered their price target on Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating for the company in a report on Friday, January 24th. UBS Group initiated coverage on Columbia Banking System in a report on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 price target for the company. JPMorgan Chase & Co. lowered 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, January 7th. Finally, Truist Financial boosted their price target on Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a report on Monday, October 28th. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Columbia Banking System has an average rating of “Hold” and a consensus target price of $30.38.

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.