Strs Ohio Has $182,000 Stake in Columbia Banking System, Inc. $COLB

Strs Ohio reduced its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 89.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,076 shares of the financial services provider’s stock after selling 61,718 shares during the quarter. Strs Ohio’s holdings in Columbia Banking System were worth $182,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. HoldCo Asset Management LP acquired a new stake in shares of Columbia Banking System during the second quarter worth $104,819,000. Massachusetts Financial Services Co. MA raised its stake in Columbia Banking System by 25.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,495,780 shares of the financial services provider’s stock worth $192,941,000 after purchasing an additional 1,497,177 shares in the last quarter. American Century Companies Inc. boosted its holdings in Columbia Banking System by 18.3% in the 2nd quarter. American Century Companies Inc. now owns 8,948,687 shares of the financial services provider’s stock valued at $209,220,000 after purchasing an additional 1,381,597 shares during the period. Norges Bank acquired a new position in shares of Columbia Banking System during the 2nd quarter worth approximately $23,813,000. Finally, Prudential Financial Inc. grew its position in shares of Columbia Banking System by 1,773.2% during the 2nd quarter. Prudential Financial Inc. now owns 767,114 shares of the financial services provider’s stock worth $17,935,000 after purchasing an additional 726,163 shares in the last quarter. 92.53% of the stock is owned by institutional investors and hedge funds.

Columbia Banking System Stock Up 0.8%

NASDAQ COLB opened at $29.69 on Tuesday. The company has a market cap of $8.88 billion, a price-to-earnings ratio of 13.14 and a beta of 0.60. The business’s fifty day moving average is $28.70 and its 200 day moving average is $26.83. Columbia Banking System, Inc. has a twelve month low of $19.61 and a twelve month high of $31.11.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.10. Columbia Banking System had a return on equity of 11.40% and a net margin of 17.11%.The company had revenue of $715.00 million during the quarter, compared to the consensus estimate of $693.23 million. During the same quarter in the prior year, the firm posted $0.71 earnings per share. 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 business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was Friday, November 28th. This is a boost from Columbia Banking System’s previous quarterly dividend of $0.36. Columbia Banking System’s dividend payout ratio (DPR) is presently 65.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Columbia Banking System to a “hold” rating in a research report on Saturday, December 27th. JPMorgan Chase & Co. raised their price target on Columbia Banking System from $31.00 to $33.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Columbia Banking System in a research report on Monday, December 29th. Royal Bank Of Canada raised their target price on shares of Columbia Banking System from $30.00 to $32.00 and gave the company a “sector perform” rating in a report on Friday, January 23rd. Finally, TD Cowen reaffirmed a “hold” rating on shares of Columbia Banking System in a report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Columbia Banking System has a consensus rating of “Hold” and an average target price of $31.65.

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.