Allworth Financial LP Purchases 458 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Allworth Financial LP lifted its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 0.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 175,538 shares of the financial services provider’s stock after buying an additional 458 shares during the period. Allworth Financial LP’s holdings in Columbia Banking System were worth $4,583,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Columbia Banking System by 812.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,182,655 shares of the financial services provider’s stock valued at $63,295,000 after purchasing an additional 2,833,744 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its stake in Columbia Banking System by 21.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 4,468,643 shares of the financial services provider’s stock valued at $86,468,000 after acquiring an additional 788,383 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Columbia Banking System by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 22,327,719 shares of the financial services provider’s stock valued at $432,041,000 after acquiring an additional 574,509 shares during the last quarter. Pzena Investment Management LLC grew its stake in shares of Columbia Banking System by 29.8% in the first quarter. Pzena Investment Management LLC now owns 2,456,438 shares of the financial services provider’s stock worth $47,532,000 after acquiring an additional 563,674 shares during the period. Finally, LSV Asset Management raised its holdings in shares of Columbia Banking System by 333.8% during the second quarter. LSV Asset Management now owns 639,042 shares of the financial services provider’s stock valued at $12,711,000 after purchasing an additional 491,742 shares during the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Columbia Banking System Stock Performance

Shares of COLB stock opened at $27.90 on Friday. The stock has a fifty day simple moving average of $25.49 and a two-hundred day simple moving average of $22.24. The firm has a market capitalization of $5.84 billion, a PE ratio of 11.97 and a beta of 0.64. Columbia Banking System, Inc. has a 52-week low of $17.08 and a 52-week high of $28.62.

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.07. Columbia Banking System had a return on equity of 10.89% and a net margin of 15.94%. The firm had revenue of $765.06 million during the quarter, compared to analysts’ expectations of $478.80 million. During the same quarter last year, the business posted $0.79 earnings per share. On average, sell-side analysts forecast that Columbia Banking System, Inc. will post 2.55 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 23rd were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.16%. The ex-dividend date of this dividend was Friday, August 23rd. Columbia Banking System’s dividend payout ratio (DPR) is presently 61.80%.

Analysts Set New Price Targets

A number of research firms have commented on COLB. Stephens lifted their target price on shares of Columbia Banking System from $22.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Wells Fargo & Company lifted their price objective on Columbia Banking System from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Friday. Wedbush increased their target price on Columbia Banking System from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Friday. Raymond James boosted their price target on Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada raised their price objective on shares of Columbia Banking System from $29.00 to $31.00 and gave the stock a “sector perform” rating in a report on Friday. 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 MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $26.96.

About Columbia Banking System

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.