New York State Common Retirement Fund Acquires 45,624 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

New York State Common Retirement Fund raised its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 647,094 shares of the financial services provider’s stock after purchasing an additional 45,624 shares during the quarter. New York State Common Retirement Fund owned approximately 0.31% of Columbia Banking System worth $17,478,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its position in Columbia Banking System by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,109,253 shares of the financial services provider’s stock valued at $185,623,000 after purchasing an additional 178,327 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Columbia Banking System by 31.9% in the 3rd quarter. Wellington Management Group LLP now owns 6,659,255 shares of the financial services provider’s stock valued at $173,873,000 after buying an additional 1,611,563 shares during the period. Janus Henderson Group PLC increased its stake in shares of Columbia Banking System by 33.1% in the 3rd quarter. Janus Henderson Group PLC now owns 2,263,432 shares of the financial services provider’s stock valued at $59,099,000 after buying an additional 562,467 shares during the period. Fisher Asset Management LLC increased its stake in shares of Columbia Banking System by 3.4% in the 3rd quarter. Fisher Asset Management LLC now owns 1,614,940 shares of the financial services provider’s stock valued at $42,166,000 after buying an additional 53,847 shares during the period. Finally, Segall Bryant & Hamill LLC increased its stake in shares of Columbia Banking System by 14.2% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,534,798 shares of the financial services provider’s stock valued at $40,074,000 after buying an additional 190,311 shares during the period. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Trading Down 2.0 %

COLB stock opened at $26.51 on Friday. The business’s 50-day moving average price is $27.63 and its two-hundred day moving average price is $27.29. The firm has a market cap of $5.55 billion, a PE ratio of 10.44 and a beta of 0.66. Columbia Banking System, Inc. has a 1-year low of $17.08 and a 1-year high of $32.85.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.06. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. On average, analysts forecast that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.36 per share. The ex-dividend date is Friday, February 28th. This represents a $1.44 annualized dividend and a yield of 5.43%. Columbia Banking System’s dividend payout ratio is presently 56.69%.

Analysts Set New Price Targets

Several research firms have recently commented on COLB. Barclays lifted their target price on Columbia Banking System from $29.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Citigroup lowered their target price on Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Truist Financial lifted their target price on Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, October 28th. Wells Fargo & Company raised Columbia Banking System from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $33.00 to $35.00 in a research note on Monday, January 6th. Finally, Stephens decreased their price objective on Columbia Banking System from $33.00 to $31.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $30.38.

Columbia Banking System Company 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.