Cetera Investment Advisers Has $2.21 Million Holdings in Columbia Banking System, Inc. $COLB

Cetera Investment Advisers decreased its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 18.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 94,585 shares of the financial services provider’s stock after selling 21,255 shares during the period. Cetera Investment Advisers’ holdings in Columbia Banking System were worth $2,211,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in Columbia Banking System by 221.3% during the 1st quarter. JPMorgan Chase & Co. now owns 5,947,950 shares of the financial services provider’s stock worth $148,342,000 after purchasing an additional 4,096,733 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Columbia Banking System by 18.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,527,612 shares of the financial services provider’s stock worth $162,791,000 after buying an additional 1,012,796 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of Columbia Banking System by 528.4% during the first quarter. MetLife Investment Management LLC now owns 742,107 shares of the financial services provider’s stock worth $18,508,000 after buying an additional 624,011 shares in the last quarter. LSV Asset Management boosted its position in shares of Columbia Banking System by 81.5% in the first quarter. LSV Asset Management now owns 1,331,143 shares of the financial services provider’s stock valued at $33,199,000 after acquiring an additional 597,710 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Columbia Banking System in the first quarter valued at about $12,588,000. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Price Performance

Shares of COLB opened at $27.79 on Friday. The firm has a 50 day simple moving average of $26.29 and a two-hundred day simple moving average of $25.24. Columbia Banking System, Inc. has a one year low of $19.61 and a one year high of $31.61. The company has a market cap of $8.31 billion, a P/E ratio of 11.03 and a beta of 0.67.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Monday, March 4th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter. Columbia Banking System had a return on equity of 11.31% and a net margin of 17.98%.The company had revenue of $348.47 million for the quarter. On average, analysts expect that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, November 28th. This is a positive change from Columbia Banking System’s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a yield of 5.3%. Columbia Banking System’s payout ratio is presently 66.67%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Citigroup lifted their price objective on shares of Columbia Banking System from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Columbia Banking System in a research report on Monday, November 24th. Raymond James Financial raised Columbia Banking System from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $27.00 to $31.00 in a research report on Monday, September 15th. Stephens raised Columbia Banking System from an “equal weight” rating to an “overweight” rating and set a $30.00 price objective for the company in a report on Monday, August 4th. Finally, Piper Sandler set a $33.00 target price on Columbia Banking System in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $29.38.

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.