BNP PARIBAS ASSET MANAGEMENT Holding S.A. Has $13.86 Million Stock Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 23.0% during the third quarter, Holdings Channel reports. The institutional investor owned 530,997 shares of the financial services provider’s stock after purchasing an additional 99,296 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Columbia Banking System were worth $13,864,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Picton Mahoney Asset Management acquired a new position in shares of Columbia Banking System during the second quarter worth approximately $33,000. Abich Financial Wealth Management LLC raised its holdings in Columbia Banking System by 85.1% during the first quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider’s stock worth $43,000 after buying an additional 1,020 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Columbia Banking System by 144.0% in the second quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider’s stock valued at $47,000 after buying an additional 1,387 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Columbia Banking System by 111.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider’s stock valued at $52,000 after buying an additional 1,380 shares during the last quarter. Finally, Hexagon Capital Partners LLC increased its position in shares of Columbia Banking System by 137,166.7% during the second quarter. Hexagon Capital Partners LLC now owns 4,118 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 4,115 shares in the last quarter. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Stock Up 3.2 %

Shares of NASDAQ:COLB opened at $31.64 on Friday. The company has a 50-day moving average price of $27.78 and a two-hundred day moving average price of $23.81. Columbia Banking System, Inc. has a twelve month low of $17.08 and a twelve month high of $31.86. The firm has a market capitalization of $6.63 billion, a PE ratio of 13.70 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The business had revenue of $765.06 million during the quarter, compared to analyst estimates of $478.80 million. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. During the same period in the previous year, the business earned $0.79 EPS. Analysts anticipate that Columbia Banking System, Inc. will post 2.63 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.44 dividend on an annualized basis and a yield of 4.55%. Columbia Banking System’s dividend payout ratio (DPR) is 62.34%.

Analysts Set New Price Targets

Several brokerages recently weighed in on COLB. Royal Bank of Canada raised their price target on shares of Columbia Banking System from $29.00 to $31.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Raymond James lifted their target price on Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company increased their price target on Columbia Banking System from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Truist Financial lifted their price objective on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, October 28th. Finally, Barclays increased their target price on shares of Columbia Banking System from $25.00 to $29.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $27.12.

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.