Columbia Banking System, Inc. (NASDAQ:COLB) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP grew its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 31.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,659,255 shares of the financial services provider’s stock after acquiring an additional 1,611,563 shares during the quarter. Wellington Management Group LLP owned 3.18% of Columbia Banking System worth $173,873,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of COLB. Charles Schwab Investment Management Inc. raised its position in shares of 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. American Century Companies Inc. raised its holdings in shares of Columbia Banking System by 6.7% in the second quarter. American Century Companies Inc. now owns 6,191,704 shares of the financial services provider’s stock worth $123,153,000 after buying an additional 386,751 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Columbia Banking System by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 4,718,494 shares of the financial services provider’s stock worth $93,851,000 after buying an additional 23,963 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Columbia Banking System by 812.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,182,655 shares of the financial services provider’s stock worth $63,295,000 after buying an additional 2,833,744 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Columbia Banking System by 1.6% during 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 buying an additional 36,867 shares during the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Truist Financial raised their target price on Columbia Banking System from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Wedbush lifted their target price on Columbia Banking System from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. StockNews.com upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Saturday, October 5th. Raymond James raised their price target on shares of Columbia Banking System from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company upped their price objective on shares of Columbia Banking System from $30.00 to $33.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $28.19.

Columbia Banking System Stock Performance

COLB stock opened at $30.19 on Monday. Columbia Banking System, Inc. has a one year low of $17.08 and a one year high of $32.85. The firm’s fifty day moving average is $28.86 and its 200 day moving average is $24.60. The firm has a market cap of $6.33 billion, a PE ratio of 13.07 and a beta of 0.64.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The firm had revenue of $765.06 million for the quarter, compared to analysts’ expectations of $478.80 million. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. During the same period last year, the firm earned $0.79 EPS. Research analysts predict that Columbia Banking System, Inc. will post 2.63 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend 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.