Columbia Banking System, Inc. (COLB) Shares Bought by Rhumbline Advisers

Rhumbline Advisers boosted its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 3.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 144,834 shares of the financial services provider’s stock after purchasing an additional 4,151 shares during the period. Rhumbline Advisers owned approximately 0.20% of Columbia Banking System worth $6,099,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Columbia Banking System by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 5,452,239 shares of the financial services provider’s stock worth $217,272,000 after purchasing an additional 88,252 shares during the period. Franklin Resources Inc. grew its position in Columbia Banking System by 11.2% in the 2nd quarter. Franklin Resources Inc. now owns 2,708,796 shares of the financial services provider’s stock worth $107,946,000 after purchasing an additional 273,200 shares during the period. Goldman Sachs Group Inc. grew its position in Columbia Banking System by 1.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,114,137 shares of the financial services provider’s stock worth $84,248,000 after purchasing an additional 26,549 shares during the period. Neuberger Berman Group LLC grew its position in Columbia Banking System by 44.7% in the 2nd quarter. Neuberger Berman Group LLC now owns 1,884,233 shares of the financial services provider’s stock worth $75,087,000 after purchasing an additional 581,814 shares during the period. Finally, Jennison Associates LLC grew its position in Columbia Banking System by 0.9% in the 2nd quarter. Jennison Associates LLC now owns 1,499,439 shares of the financial services provider’s stock worth $59,753,000 after purchasing an additional 13,295 shares during the period. 76.57% of the stock is owned by institutional investors and hedge funds.

Shares of Columbia Banking System, Inc. (NASDAQ COLB) opened at $46.31 on Friday. Columbia Banking System, Inc. has a 1 year low of $35.67 and a 1 year high of $47.36. The stock has a market cap of $3,366.16, a price-to-earnings ratio of 20.95, a PEG ratio of 2.10 and a beta of 1.24.

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, October 26th. The financial services provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. Columbia Banking System had a net margin of 27.72% and a return on equity of 9.93%. The company had revenue of $126.00 million for the quarter, compared to analysts’ expectations of $119.16 million. During the same quarter in the previous year, the company earned $0.47 EPS. Columbia Banking System’s revenue for the quarter was up 16.9% on a year-over-year basis. equities analysts anticipate that Columbia Banking System, Inc. will post 2.2 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Monday, October 30th. Columbia Banking System’s dividend payout ratio (DPR) is 40.00%.

A number of brokerages have recently issued reports on COLB. Zacks Investment Research raised shares of Columbia Banking System from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Tuesday, October 31st. DA Davidson reissued a “buy” rating and set a $48.00 price objective (up previously from $45.00) on shares of Columbia Banking System in a research report on Tuesday, October 17th. BidaskClub downgraded shares of Columbia Banking System from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $42.00 price objective on shares of Columbia Banking System in a research report on Friday, September 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Columbia Banking System currently has an average rating of “Hold” and an average price target of $45.60.

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Columbia Banking System Profile

Columbia Banking System, Inc (Columbia) is a bank holding company for Columbia State Bank (the Bank) and Columbia Trust Company (Columbia Trust). The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals. It offers products and services, which include Personal Banking, Business Banking and Wealth Management.

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Institutional Ownership by Quarter for Columbia Banking System (NASDAQ:COLB)

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