8,896 Shares in Columbia Banking System, Inc. (NASDAQ:COLB) Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. bought a new stake in shares of Columbia Banking System, Inc. (NASDAQ:COLBFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,896 shares of the financial services provider’s stock, valued at approximately $237,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Channing Capital Management LLC purchased a new position in Columbia Banking System in the 4th quarter worth approximately $3,955,000. Keeley Teton Advisors LLC boosted its stake in Columbia Banking System by 11.0% during the third quarter. Keeley Teton Advisors LLC now owns 405,480 shares of the financial services provider’s stock worth $8,231,000 after buying an additional 40,215 shares during the last quarter. Kennedy Capital Management LLC grew its holdings in Columbia Banking System by 1,633.4% in the 3rd quarter. Kennedy Capital Management LLC now owns 1,277,639 shares of the financial services provider’s stock valued at $25,936,000 after buying an additional 1,203,933 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Columbia Banking System by 32.5% in the 3rd quarter. American Century Companies Inc. now owns 3,939,877 shares of the financial services provider’s stock worth $79,980,000 after acquiring an additional 967,009 shares during the last quarter. Finally, First Hawaiian Bank raised its holdings in shares of Columbia Banking System by 12.3% during the 4th quarter. First Hawaiian Bank now owns 20,062 shares of the financial services provider’s stock worth $535,000 after acquiring an additional 2,200 shares during the period. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on COLB. Wells Fargo & Company cut their price objective on shares of Columbia Banking System from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 10th. Keefe, Bruyette & Woods reduced their price target on shares of Columbia Banking System from $25.00 to $23.00 and set a “market perform” rating on the stock in a research report on Friday, April 5th. Piper Sandler lowered their price objective on Columbia Banking System from $36.00 to $29.00 and set an “overweight” rating for the company in a research report on Thursday, January 25th. Raymond James downgraded Columbia Banking System from a “strong-buy” rating to an “outperform” rating and set a $25.00 target price on the stock. in a research report on Thursday, January 25th. Finally, DA Davidson lowered their price target on Columbia Banking System from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, March 13th. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Columbia Banking System presently has an average rating of “Hold” and a consensus price target of $22.19.

View Our Latest Stock Analysis on Columbia Banking System

Columbia Banking System Stock Up 0.2 %

Columbia Banking System stock opened at $20.11 on Wednesday. Columbia Banking System, Inc. has a 52-week low of $17.08 and a 52-week high of $28.11. The firm has a market cap of $4.21 billion, a PE ratio of 8.63 and a beta of 0.69. The company’s 50 day moving average is $19.01 and its two-hundred day moving average is $21.20.

Columbia Banking System (NASDAQ:COLBGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.53 by $0.12. The business had revenue of $473.72 million during the quarter, compared to the consensus estimate of $480.39 million. Columbia Banking System had a net margin of 16.52% and a return on equity of 11.58%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.46 earnings per share. On average, equities research analysts anticipate that Columbia Banking System, Inc. will post 2.44 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, June 10th. Shareholders of record on Friday, May 24th will be paid a $0.36 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $1.44 annualized dividend and a dividend yield of 7.16%. Columbia Banking System’s dividend payout ratio (DPR) is 61.80%.

Columbia Banking System Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Columbia Banking System (NASDAQ:COLB)

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