Systematic Financial Management LP Boosts Stock Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Systematic Financial Management LP lifted its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 29.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,164,810 shares of the financial services provider’s stock after purchasing an additional 265,681 shares during the period. Systematic Financial Management LP owned 0.56% of Columbia Banking System worth $30,413,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of COLB. Price T Rowe Associates Inc. MD boosted its holdings in shares of Columbia Banking System by 6.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 108,148 shares of the financial services provider’s stock worth $2,093,000 after purchasing an additional 6,351 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Columbia Banking System by 144.0% during the second quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 1,387 shares during the period. CWM LLC boosted its holdings in shares of Columbia Banking System by 84.2% during the second quarter. CWM LLC now owns 13,468 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 6,156 shares during the period. Simplicity Wealth LLC lifted its holdings in Columbia Banking System by 12.0% in the second quarter. Simplicity Wealth LLC now owns 24,393 shares of the financial services provider’s stock worth $485,000 after buying an additional 2,617 shares during the period. Finally, Hexagon Capital Partners LLC lifted its holdings in Columbia Banking System by 137,166.7% in the second quarter. Hexagon Capital Partners LLC now owns 4,118 shares of the financial services provider’s stock worth $82,000 after buying an additional 4,115 shares during the period. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wedbush raised their price objective on shares of Columbia Banking System from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Truist Financial raised their price objective on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, October 28th. JPMorgan Chase & Co. lowered 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 report on Saturday, October 5th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Columbia Banking System from $30.00 to $34.00 and gave the stock a “market perform” rating in a report on Wednesday. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $27.88.

Columbia Banking System Stock Down 1.1 %

Shares of COLB opened at $30.22 on Thursday. The company has a market capitalization of $6.33 billion, a P/E ratio of 13.08 and a beta of 0.64. The firm has a 50 day moving average of $28.60 and a 200 day moving average of $24.38. Columbia Banking System, Inc. has a twelve month low of $17.08 and a twelve month high of $32.85.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.07. The company had revenue of $765.06 million during the quarter, compared to the consensus estimate 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 last year, the firm earned $0.79 earnings per share. On average, sell-side analysts expect 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. Investors of record on Friday, November 29th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.77%. The ex-dividend date is Friday, November 29th. Columbia Banking System’s dividend payout ratio (DPR) is currently 62.34%.

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.