Pathstone Holdings LLC Acquires 37,941 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Pathstone Holdings LLC lifted its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 45.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 120,888 shares of the financial services provider’s stock after purchasing an additional 37,941 shares during the period. Pathstone Holdings LLC owned 0.06% of Columbia Banking System worth $3,156,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COLB. First Hawaiian Bank increased its position in Columbia Banking System by 81.4% in the 2nd quarter. First Hawaiian Bank now owns 52,594 shares of the financial services provider’s stock valued at $1,046,000 after acquiring an additional 23,597 shares in the last quarter. Vanguard Group Inc. raised its position in Columbia Banking System by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 22,327,719 shares of the financial services provider’s stock worth $432,041,000 after purchasing an additional 574,509 shares during the last quarter. Interval Partners LP acquired a new position in Columbia Banking System during the 1st quarter worth $1,829,000. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Columbia Banking System by 1.6% in the 2nd 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. Finally, Leuthold Group LLC acquired a new stake in shares of Columbia Banking System in the 3rd quarter valued at $3,181,000. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on COLB shares. Raymond James raised their price target on Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their target price on shares of Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Wells Fargo & Company boosted their price target on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. StockNews.com raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. Finally, Royal Bank of Canada upped their target price on shares of Columbia Banking System from $29.00 to $31.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $27.12.

Columbia Banking System Trading Up 3.2 %

NASDAQ:COLB opened at $31.64 on Monday. Columbia Banking System, Inc. has a 1 year low of $17.08 and a 1 year high of $31.86. The stock has a 50-day moving average price of $27.78 and a two-hundred day moving average price of $23.84. The stock has a market cap of $6.63 billion, a price-to-earnings ratio of 13.70 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. The business had revenue of $765.06 million during 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 in the prior year, the business earned $0.79 EPS. Sell-side analysts forecast that Columbia Banking System, Inc. will post 2.63 earnings per share for the current year.

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.36 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.44 annualized dividend and a yield of 4.55%. Columbia Banking System’s dividend payout ratio 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.