Fisher Asset Management LLC Has $46.81 Million Holdings in Columbia Banking System, Inc. $COLB

Fisher Asset Management LLC lessened its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 8.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,002,014 shares of the financial services provider’s stock after selling 175,987 shares during the period. Fisher Asset Management LLC’s holdings in Columbia Banking System were worth $46,807,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its position in shares of Columbia Banking System by 194.6% in the first quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 794 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Columbia Banking System in the 1st quarter valued at about $37,000. Bessemer Group Inc. raised its holdings in Columbia Banking System by 53.5% in the 2nd quarter. Bessemer Group Inc. now owns 1,790 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 624 shares during the period. UMB Bank n.a. lifted its position in Columbia Banking System by 38.1% during the second quarter. UMB Bank n.a. now owns 2,259 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 623 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in Columbia Banking System by 51.3% during the second quarter. Nomura Asset Management Co. Ltd. now owns 2,270 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 770 shares during the last quarter. 92.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on COLB. JPMorgan Chase & Co. boosted their price target on Columbia Banking System from $28.00 to $31.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Citigroup lifted their target price on Columbia Banking System from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. TD Cowen initiated coverage on shares of Columbia Banking System in a research report on Thursday, September 25th. They issued a “hold” rating and a $28.00 target price for the company. Royal Bank Of Canada raised their price target on shares of Columbia Banking System from $27.00 to $28.00 and gave the stock a “sector perform” rating in a research report on Friday, October 10th. Finally, Keefe, Bruyette & Woods upgraded shares of Columbia Banking System from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $30.00 to $31.00 in a research note on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, Columbia Banking System currently has a consensus rating of “Hold” and a consensus price target of $29.38.

Columbia Banking System Stock Down 1.5%

NASDAQ COLB opened at $27.67 on Wednesday. The company has a market cap of $8.28 billion, a price-to-earnings ratio of 12.46 and a beta of 0.62. Columbia Banking System, Inc. has a twelve month low of $19.61 and a twelve month high of $31.34. The business’s fifty day moving average is $26.35 and its 200 day moving average is $25.28.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Monday, March 4th. The financial services provider reported $0.76 earnings per share for the quarter. The firm had revenue of $348.47 million for the quarter. Columbia Banking System had a net margin of 15.98% and a return on equity of 11.13%. On average, research analysts anticipate 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 declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 5.3%. This is a boost from Columbia Banking System’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, November 28th. Columbia Banking System’s payout ratio is presently 66.67%.

Columbia Banking System 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.