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Nordea Investment Management AB increased its holdings in Columbia Banking System, Inc. (NASDAQ:COLB – Free Report) by 5.6% during the 1st quarter, according to the company’s most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 154,253 shares of the financial services provider after acquiring an additional 8,187 shares during the quarter. Nordea Investment Management AB owned about 0.07% of Columbia Banking System worth $2,979,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of COLB. Wellington Management Group LLP acquired a new position in shares of Columbia Banking System in the third quarter valued at $80,011,000. Norges Bank acquired a new position in shares of Columbia Banking System in the fourth quarter valued at about $63,152,000. American Century Companies Inc. increased its position in shares of Columbia Banking System by 32.5% in the third quarter. American Century Companies Inc. now owns 3,939,877 shares of the financial services provider’s stock valued at $79,980,000 after purchasing an additional 967,009 shares in the last quarter. Public Employees Retirement Association of Colorado increased its holdings in Columbia Banking System by 3,245.7% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 864,604 shares of the financial services provider’s stock valued at $23,068,000 after acquiring an additional 838,762 shares during the same period. Finally, Franklin Resources Inc. increased its stake in Columbia Banking System by 9.9% in the fourth quarter. Franklin Resources Inc. now owns 7,788,928 shares of the financial services provider’s stock valued at $207,809,000 after acquiring an additional 700,643 shares during the last quarter. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System share price rises 3.0%

COLB stock opened at $20.77 on Thursday. The company has a market cap of $4.35 billion, a P/E ratio of 8.91 and a beta of 0.66. Columbia Banking System, Inc. has a twelve-month low of $17.08 and a twelve-month high of $28.11. The stock’s 50-day moving average is $19.37 and its 200-day moving average is $20.09.

Columbia Banking System (NASDAQ:COLB – Get Free Report) last released its quarterly earnings results on Thursday, April 25. The financial services provider reported earnings per share of $0.65 for the quarter, beating analysts’ consensus estimates of $0.53 by $0.12. The company had revenue of $473.72 million for the quarter, compared to analyst estimates of $480.39 million. Columbia Banking System had a return on equity of 11.58% and a net margin of 16.52%. Columbia Banking System’s quarterly revenue grew 10.3% compared to the year-ago quarter. During the same period last year, the company reported earnings per share of $0.46. On average, equities analysts expect that Columbia Banking System, Inc. will report earnings per share of $2.44 for the current fiscal year.

Columbia Banking System announces dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 24th were given a dividend of $0.36 per share. This represents an annualized dividend of $1.44 and a dividend yield of 6.93%. The ex-dividend date was Thursday, May 23rd. Columbia Banking System’s payout ratio is currently 61.80%.

Wall Street analysts comment

Several research firms have issued reports on COLB. Wedbush reiterated a “neutral” rating and set a $20.00 price target on shares of Columbia Banking System in a report on Friday, April 26. Keefe, Bruyette & Woods decreased their price target on shares of Columbia Banking System from $25.00 to $23.00 and gave the company a “market perform” rating in a report on Friday, April 5. Royal Bank of Canada decreased their price target on shares of Columbia Banking System from $25.00 to $21.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 9. Wells Fargo & Company decreased their price target on Columbia Banking System from $25.00 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Finally, Citigroup decreased their price target on Columbia Banking System from $25.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, March 13th. One research analyst rated the stock with a sell rating, eleven have given a hold rating, and two have given a buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $22.04.

Get our latest analysis on COLB

Columbia Banking System Company Profile

(Free report)

Columbia Banking System, Inc. is the holding company for Umpqua Bank, which provides banking, private banking, mortgage and other financial services in the United States. The company offers deposit products, including business accounts, non-interest-bearing checking accounts, interest-bearing checking and savings accounts, money market accounts and certificates of deposit, as well as insured cash sweep and other investment sweep solutions.

Selected items

Institutional ownership by quarter for Columbia Banking System (NASDAQ:COLB)



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