Arizona State Pension System buys 1,085 shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Arizona State Retirement System raised its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB – Free Report) by 1.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 58,406 shares of the financial services provider’s stock after purchasing an additional 1,085 shares during the quarter. Arizona State Retirement System’s holdings in Columbia Banking System were worth $1,162,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in COLB. Norges Bank bought a new stake in Columbia Banking System during the fourth quarter valued at about $63,152,000. Public Employees Retirement Association of Colorado boosted its stake in Columbia Banking System by 3,245.7% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 864,604 shares of the financial services provider’s stock, valued at worth $23,068,000 after buying an additional 838,762 shares during the period. Silvercrest Asset Management Group LLC raised its stake in Columbia Banking System by 21.4% in the first 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 buying an additional 788,383 shares during the period. Franklin Resources Inc. raised its holdings in Columbia Banking System by 9.9% in the 4th quarter. Franklin Resources Inc. now owns 7,788,928 shares of the financial services provider’s stock valued at $207,809,000 after purchasing an additional 700,643 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Columbia Banking System by 16.2% in the 4th quarter. Wellington Management Group LLP now owns 4,578,618 shares of the financial services provider’s stock, valued at $122,158,000 , after acquiring an additional 637,212 shares in the last quarter. Institutional investors own 92.53% of the company’s shares.

Analyst upgrades and downgrades

Several research firms have commented on COLB. Wells Fargo & Company upped their target price on Columbia Banking System from $22.00 to $26.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. StockNews.com cut Columbia Banking System from a “hold” rating to a “sell” rating in a report on Friday, August 30th. Barclays upped their target price on Columbia Banking System from $21.00 to $24.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Truist Financial upped their target price on Columbia Banking System from $20.00 to $29.00 and gave the company a “hold” rating in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods boosted their price target on Columbia Banking System from $23.00 to $27.00 and gave the company a “market perform” rating in a report on Friday. July 26. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $25.04, based on data from MarketBeat.com.

See our latest analysis of Colombia’s banking system

The price performance of the Colombian banking system

NASDAQ COLB opened at $23.55 on Friday. The firm has a market cap of $4.93 billion, a PE ratio of 10.11 and a beta of 0.64. Columbia Banking System, Inc. it has a one year low of $17.08 and a one year high of $28.11. The stock’s 50-day simple moving average is $23.67 and its 200-day simple moving average is $20.58.

Columbia Banking System (NASDAQ:COLB – Get Your Free Report ) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. The company had revenue of $472.15 million during the quarter, compared to analysts’ expectations of $476.01 million. Columbia Banking System had a return on equity of 10.89% and a net margin of 15.94%. The company’s revenue for the quarter was down 9.8% year over year. During the same period last year, the firm earned $0.81 EPS. As a group, equities analysts expect Columbia Banking System, Inc. to post 2.55 earnings per share for the current year.

Columbia Banking System Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 23rd were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, August 23. This represents an annualized dividend of $1.44 and a yield of 6.11%. Columbia Banking System’s dividend payout ratio is currently 61.80%.

Columbia Banking System Company Profile

(Free Report)

Columbia Banking System, Inc operates as the holding company of Umpqua Bank providing banking, private banking, mortgage and other financial services in the United States. The Company offers deposit products, including business, interest-free checking, interest-bearing checking and savings, money market and certificates of deposit accounts; and cash secured sweep and other investment sweep solutions.

See Also

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