Columbia Banking System, Inc. (NASDAQ:COLB) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 0.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,718,494 shares of the financial services provider’s stock after purchasing an additional 23,963 shares during the period. Bank of New York Mellon Corp’s holdings in Columbia Banking System were worth $93,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LSV Asset Management purchased a new position in Columbia Banking System in the first quarter valued at $2,850,000. Channing Capital Management LLC purchased a new position in Columbia Banking System in the fourth quarter valued at $3,955,000. BNP Paribas Financial Markets increased its holdings in Columbia Banking System by 185.1% in the first quarter. BNP Paribas Financial Markets now owns 173,776 shares of the financial services provider’s stock valued at $3,363,000 after buying an additional 112,826 shares in the last quarter. First Hawaiian Bank increased its holdings in Columbia Banking System by 81.4% in the second quarter. First Hawaiian Bank now owns 52,594 shares of the financial services provider’s stock valued at $1,046,000 after buying an additional 23,597 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Columbia Banking System by 2.6% in 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 in the last quarter. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Columbia Banking System Trading Up 0.4 %

Shares of NASDAQ COLB opened at $24.84 on Thursday. Columbia Banking System, Inc. has a 12-month low of $17.08 and a 12-month high of $28.11. The stock has a market cap of $5.20 billion, a PE ratio of 10.66 and a beta of 0.65. The company has a 50-day moving average of $22.55 and a 200 day moving average of $20.15.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. The company had revenue of $472.15 million for the quarter, compared to analyst estimates of $476.01 million. Columbia Banking System had a net margin of 15.94% and a return on equity of 10.89%. Columbia Banking System’s revenue was down 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.81 EPS. On average, sell-side analysts forecast that Columbia Banking System, Inc. will post 2.51 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 9th. Shareholders of record on Friday, August 23rd will be issued a $0.36 dividend. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $1.44 annualized dividend and a yield of 5.80%. Columbia Banking System’s payout ratio is 61.80%.

Analysts Set New Price Targets

A number of analysts have recently commented on COLB shares. Barclays boosted their target price on shares of Columbia Banking System from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Wedbush boosted their target price on shares of Columbia Banking System from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Wells Fargo & Company boosted their target price on shares of Columbia Banking System from $22.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. StockNews.com raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th. Finally, Stephens boosted their target price on shares of Columbia Banking System from $22.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $25.04.

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.