Robertson Stephens Wealth Management LLC Makes New Investment in Columbia Banking System, Inc. $COLB

Robertson Stephens Wealth Management LLC bought a new position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,141 shares of the financial services provider’s stock, valued at approximately $214,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COLB. UMB Bank n.a. lifted its stake in Columbia Banking System by 141.3% during the first quarter. UMB Bank n.a. now owns 1,636 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 958 shares during the last quarter. GAMMA Investing LLC lifted its stake in Columbia Banking System by 34.5% during the first quarter. GAMMA Investing LLC now owns 5,331 shares of the financial services provider’s stock worth $133,000 after purchasing an additional 1,368 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Columbia Banking System by 3.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 40,952 shares of the financial services provider’s stock worth $1,021,000 after purchasing an additional 1,548 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Columbia Banking System by 2.7% during the first quarter. Janney Montgomery Scott LLC now owns 125,545 shares of the financial services provider’s stock worth $3,131,000 after purchasing an additional 3,271 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its stake in Columbia Banking System by 126.8% during the first quarter. QRG Capital Management Inc. now owns 21,959 shares of the financial services provider’s stock worth $548,000 after purchasing an additional 12,275 shares during the last quarter. 92.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Royal Bank Of Canada upped their target price on Columbia Banking System from $27.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Friday. Raymond James Financial upgraded Columbia Banking System from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $27.00 to $31.00 in a research note on Monday, September 15th. Wells Fargo & Company increased their price target on Columbia Banking System from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Columbia Banking System in a research note on Saturday, September 27th. Finally, Keefe, Bruyette & Woods upgraded Columbia Banking System from a “market perform” rating to an “outperform” rating and increased their price target for the company from $30.00 to $31.00 in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Columbia Banking System currently has an average rating of “Hold” and an average target price of $29.33.

Columbia Banking System Stock Down 3.0%

Shares of NASDAQ:COLB opened at $24.90 on Monday. The firm has a market cap of $5.24 billion, a P/E ratio of 9.88 and a beta of 0.60. Columbia Banking System, Inc. has a 12-month low of $19.61 and a 12-month high of $32.85. The business has a fifty day simple moving average of $25.94 and a 200 day simple moving average of $24.36.

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

Columbia Banking System Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was Friday, August 29th. Columbia Banking System’s dividend payout ratio (DPR) is currently 57.14%.

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.