Swiss National Bank Trims Stock Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

Swiss National Bank cut its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 0.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 408,721 shares of the financial services provider’s stock after selling 2,400 shares during the quarter. Swiss National Bank’s holdings in Columbia Banking System were worth $10,672,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in COLB. Picton Mahoney Asset Management bought a new stake in shares of Columbia Banking System in the second quarter worth $33,000. Abich Financial Wealth Management LLC raised its stake in shares of Columbia Banking System by 85.1% in the 1st quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 1,020 shares in the last quarter. GAMMA Investing LLC lifted its position 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 last quarter. Allspring Global Investments Holdings LLC grew its stake in Columbia Banking System by 111.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 1,380 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased 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 valued at $82,000 after buying an additional 4,115 shares during the last quarter. 92.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

COLB has been the topic of a number of research analyst reports. Royal Bank of Canada increased their target price on Columbia Banking System from $29.00 to $31.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. JPMorgan Chase & Co. decreased 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. Barclays increased their target price on shares of Columbia Banking System from $25.00 to $29.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Raymond James lifted their price target on shares of Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, Wedbush increased their price objective on shares of Columbia Banking System from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Columbia Banking System has an average rating of “Hold” and an average target price of $27.12.

Columbia Banking System Stock Performance

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 business has a fifty day moving average of $27.78 and a 200-day moving average 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 released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. The company had revenue of $765.06 million for 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 period in the previous year, the firm earned $0.79 EPS. On average, equities research analysts predict that Columbia Banking System, Inc. will post 2.63 EPS for the current year.

Columbia Banking System Dividend Announcement

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