Cetera Investment Advisers Raises Stock Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

Cetera Investment Advisers raised its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 135.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 111,009 shares of the financial services provider’s stock after purchasing an additional 63,932 shares during the period. Cetera Investment Advisers owned 0.05% of Columbia Banking System worth $2,208,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Columbia Banking System by 2.6% during the first quarter. Vanguard Group Inc. now owns 22,327,719 shares of the financial services provider’s stock valued at $432,041,000 after buying an additional 574,509 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Columbia Banking System by 6.7% during the second quarter. American Century Companies Inc. now owns 6,191,704 shares of the financial services provider’s stock valued at $123,153,000 after acquiring an additional 386,751 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Columbia Banking System by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 4,718,494 shares of the financial services provider’s stock valued at $93,851,000 after acquiring an additional 23,963 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Columbia Banking System by 16.2% in the 4th quarter. Wellington Management Group LLP now owns 4,578,618 shares of the financial services provider’s stock worth $122,158,000 after purchasing an additional 637,212 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its stake in Columbia Banking System by 21.4% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 4,468,643 shares of the financial services provider’s stock worth $86,468,000 after purchasing an additional 788,383 shares in the last quarter. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

COLB has been the subject of a number of analyst reports. Wedbush upgraded shares of Columbia Banking System from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $28.00 to $31.00 in a research note on Tuesday, September 24th. Keefe, Bruyette & Woods upped their price objective on Columbia Banking System from $23.00 to $27.00 and gave the company a “market perform” rating in a research report on Friday, July 26th. StockNews.com raised Columbia Banking System from a “sell” rating to a “hold” rating in a report on Saturday, October 5th. Wells Fargo & Company upped their price target on Columbia Banking System from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Tuesday, October 1st. Finally, Truist Financial reduced their price objective on Columbia Banking System from $29.00 to $28.00 and set a “hold” rating for the company in a report on Friday, September 20th. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $25.81.

Columbia Banking System Trading Up 3.7 %

COLB opened at $26.90 on Friday. Columbia Banking System, Inc. has a 12-month low of $17.08 and a 12-month high of $28.11. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 11.90 and a beta of 0.64. The company’s 50 day moving average is $24.67 and its 200 day moving average is $21.63.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. Columbia Banking System had a net margin of 15.94% and a return on equity of 10.89%. The firm had revenue of $472.15 million during the quarter, compared to the consensus estimate of $476.01 million. During the same quarter in the previous year, the firm posted $0.81 EPS. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, analysts predict that Columbia Banking System, Inc. will post 2.55 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 23rd were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.35%. The ex-dividend date of this dividend was Friday, August 23rd. Columbia Banking System’s dividend payout ratio (DPR) is currently 63.72%.

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.