First Trust Advisors LP Grows Stock Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

First Trust Advisors LP raised its stake in Columbia Banking System, Inc. (NASDAQ:COLBGet Rating) by 3.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 109,657 shares of the financial services provider’s stock after buying an additional 3,583 shares during the period. First Trust Advisors LP owned about 0.14% of Columbia Banking System worth $3,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. Earnest Partners LLC bought a new stake in shares of Columbia Banking System in the 4th quarter valued at about $27,000. First Horizon Advisors Inc. raised its holdings in shares of Columbia Banking System by 99.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 660 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 329 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Columbia Banking System by 14.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 6,700 shares of the financial services provider’s stock valued at $219,000 after purchasing an additional 850 shares in the last quarter. DeDora Capital Inc. bought a new stake in shares of Columbia Banking System in the 4th quarter valued at about $244,000. Finally, Brown Advisory Inc. bought a new position in shares of Columbia Banking System during the 4th quarter worth approximately $244,000. 94.44% of the stock is owned by institutional investors.

In other Columbia Banking System news, CFO Aaron James Deer acquired 3,000 shares of the company’s stock in a transaction dated Monday, May 2nd. The shares were acquired at an average cost of $28.00 per share, with a total value of $84,000.00. Following the acquisition, the chief financial officer now directly owns 15,427 shares of the company’s stock, valued at $431,956. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.62% of the stock is owned by corporate insiders.

COLB has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Columbia Banking System from a “hold” rating to a “strong-buy” rating and set a $38.00 price objective for the company in a research note on Thursday, March 31st. Raymond James reduced their price objective on shares of Columbia Banking System from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, April 22nd. StockNews.com started coverage on shares of Columbia Banking System in a research note on Thursday, March 31st. They set a “hold” rating for the company. Keefe, Bruyette & Woods started coverage on shares of Columbia Banking System in a research note on Friday, February 11th. They set a “market perform” rating on the stock. Finally, Piper Sandler cut their price target on shares of Columbia Banking System from $35.00 to $31.00 in a research note on Monday, May 2nd. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $36.00.

Shares of Columbia Banking System stock opened at $28.46 on Friday. Columbia Banking System, Inc. has a 12-month low of $27.61 and a 12-month high of $44.20. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 10.16 and a beta of 0.68. The firm’s 50 day simple moving average is $31.46 and its two-hundred day simple moving average is $33.57.

Columbia Banking System (NASDAQ:COLBGet Rating) last released its quarterly earnings data on Thursday, April 21st. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.66 by $0.15. The business had revenue of $170.38 million for the quarter, compared to the consensus estimate of $166.09 million. Columbia Banking System had a net margin of 31.91% and a return on equity of 9.30%. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.73 EPS. Equities research analysts anticipate that Columbia Banking System, Inc. will post 2.6 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 18th. Stockholders of record on Wednesday, May 4th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.22%. The ex-dividend date is Tuesday, May 3rd. Columbia Banking System’s dividend payout ratio (DPR) is currently 42.86%.

Columbia Banking System Profile (Get Rating)

Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in the United States. It offers personal banking products and services, including noninterest and interest-bearing checking, savings, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and other personal loans; debit and credit cards; and digital banking services.

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Institutional Ownership by Quarter for Columbia Banking System (NASDAQ:COLB)

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