Los Angeles Capital Management LLC Purchases 63,030 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Los Angeles Capital Management LLC increased its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 38.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 225,058 shares of the financial services provider’s stock after purchasing an additional 63,030 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.11% of Columbia Banking System worth $6,079,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in COLB. Tidal Investments LLC grew its stake in shares of Columbia Banking System by 1.1% in the third quarter. Tidal Investments LLC now owns 43,184 shares of the financial services provider’s stock worth $1,128,000 after acquiring an additional 464 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Columbia Banking System by 1.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 39,256 shares of the financial services provider’s stock worth $1,025,000 after purchasing an additional 544 shares in the last quarter. Sippican Capital Advisors boosted its stake in Columbia Banking System by 0.5% in the 3rd quarter. Sippican Capital Advisors now owns 111,172 shares of the financial services provider’s stock worth $2,903,000 after purchasing an additional 552 shares in the last quarter. Pacer Advisors Inc. grew its position in Columbia Banking System by 2.0% during the 4th quarter. Pacer Advisors Inc. now owns 31,238 shares of the financial services provider’s stock valued at $844,000 after purchasing an additional 612 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Columbia Banking System by 1.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 49,684 shares of the financial services provider’s stock valued at $1,342,000 after purchasing an additional 621 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Barclays upped their target price on shares of Columbia Banking System from $29.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Wells Fargo & Company raised Columbia Banking System from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $33.00 to $35.00 in a research report on Monday, January 6th. Stephens reduced their target price on Columbia Banking System from $33.00 to $31.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. JPMorgan Chase & Co. lowered their price target on Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Finally, UBS Group began coverage on Columbia Banking System in a research report on Tuesday, December 17th. They set a “neutral” rating and a $32.00 price objective on the stock. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $30.38.

Columbia Banking System Stock Down 0.3 %

Columbia Banking System stock opened at $26.53 on Thursday. Columbia Banking System, Inc. has a 52-week low of $17.08 and a 52-week high of $32.85. The company has a market cap of $5.56 billion, a P/E ratio of 10.44 and a beta of 0.66. The business has a 50-day simple moving average of $27.51 and a two-hundred day simple moving average of $27.36.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. Columbia Banking System had a net margin of 17.99% and a return on equity of 11.21%. Research analysts anticipate that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a $0.36 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.44 annualized dividend and a dividend yield of 5.43%. Columbia Banking System’s dividend payout ratio (DPR) is 56.69%.

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.