Fisher Asset Management LLC Has $42.17 Million Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Fisher Asset Management LLC increased its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 3.4% during the third quarter, Holdings Channel reports. The institutional investor owned 1,614,940 shares of the financial services provider’s stock after purchasing an additional 53,847 shares during the quarter. Fisher Asset Management LLC’s holdings in Columbia Banking System were worth $42,166,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Hawaiian Bank lifted its position in shares of Columbia Banking System by 81.4% in the 2nd quarter. First Hawaiian Bank now owns 52,594 shares of the financial services provider’s stock worth $1,046,000 after acquiring an additional 23,597 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Columbia Banking System by 1.6% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,330,133 shares of the financial services provider’s stock valued at $46,346,000 after purchasing an additional 36,867 shares in the last quarter. Leuthold Group LLC bought a new position in Columbia Banking System in the third quarter worth $3,181,000. Pathstone Holdings LLC boosted its stake in Columbia Banking System by 45.7% during the third quarter. Pathstone Holdings LLC now owns 120,888 shares of the financial services provider’s stock worth $3,156,000 after buying an additional 37,941 shares in the last quarter. Finally, Natixis Advisors LLC increased its holdings in Columbia Banking System by 37.8% in the 2nd quarter. Natixis Advisors LLC now owns 97,911 shares of the financial services provider’s stock valued at $1,947,000 after buying an additional 26,877 shares during the period. 92.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on COLB shares. JPMorgan Chase & Co. reduced their price objective on shares of Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. StockNews.com upgraded shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. Barclays upped their price objective on Columbia Banking System from $25.00 to $29.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Wells Fargo & Company raised their target price on Columbia Banking System from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Finally, Truist Financial upped their price target on Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.12.

Columbia Banking System Trading Down 0.9 %

COLB opened at $31.72 on Wednesday. Columbia Banking System, Inc. has a 1-year low of $17.08 and a 1-year high of $32.85. The stock has a market capitalization of $6.65 billion, a PE ratio of 13.73 and a beta of 0.62. The firm has a 50-day moving average price of $27.93 and a two-hundred day moving average price of $23.92.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.07. The firm had revenue of $765.06 million during the quarter, compared to analysts’ expectations of $478.80 million. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. During the same quarter in the previous year, the company posted $0.79 EPS. On average, research analysts predict that Columbia Banking System, Inc. will post 2.63 EPS for the current year.

Columbia Banking System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.54%. The ex-dividend date is Friday, November 29th. Columbia Banking System’s dividend payout ratio (DPR) is presently 62.34%.

Columbia Banking System 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.