50,738 Shares in Columbia Banking System, Inc. $COLB Bought by Pacer Advisors Inc.

Pacer Advisors Inc. acquired a new stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 50,738 shares of the financial services provider’s stock, valued at approximately $1,306,000.

A number of other institutional investors and hedge funds have also made changes to their positions in COLB. West Oak Capital LLC purchased a new stake in shares of Columbia Banking System during the 3rd quarter valued at about $28,000. Geneos Wealth Management Inc. increased its position in shares of Columbia Banking System by 194.6% during the 1st 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 last quarter. Bessemer Group Inc. raised its holdings in Columbia Banking System by 53.5% during the 2nd quarter. Bessemer Group Inc. now owns 1,790 shares of the financial services provider’s stock valued at $42,000 after buying an additional 624 shares during the period. UMB Bank n.a. lifted its position in Columbia Banking System by 38.1% in the second quarter. UMB Bank n.a. now owns 2,259 shares of the financial services provider’s stock worth $53,000 after buying an additional 623 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its stake 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 buying an additional 770 shares during the period. 92.53% of the stock is owned by hedge funds and other institutional investors.

Columbia Banking System Price Performance

Shares of COLB stock opened at $27.95 on Friday. The company has a market capitalization of $8.36 billion, a P/E ratio of 12.59 and a beta of 0.60. The company’s 50-day simple moving average is $27.64 and its two-hundred day simple moving average is $26.01. Columbia Banking System, Inc. has a one year low of $19.61 and a one year high of $29.61.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly 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 during the quarter. Columbia Banking System had a net margin of 15.98% and a return on equity of 11.13%. On average, research analysts expect that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Cowen began coverage on shares of Columbia Banking System in a research note on Wednesday, September 24th. They issued a “hold” rating on the stock. Citigroup increased 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 report on Friday, October 31st. JPMorgan Chase & Co. boosted their target price on Columbia Banking System from $31.00 to $33.00 and gave the company a “neutral” rating in a research report on Tuesday, December 16th. Raymond James Financial raised Columbia Banking System from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $27.00 to $31.00 in a research note on Monday, September 15th. Finally, TD Cowen initiated coverage on Columbia Banking System in a report on Thursday, September 25th. They issued a “hold” rating and a $28.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $29.58.

About Columbia Banking System

Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.

The company’s offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.