Charles Schwab Investment Management Inc. Has $185.62 Million Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

Charles Schwab Investment Management Inc. increased its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 2.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,109,253 shares of the financial services provider’s stock after purchasing an additional 178,327 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Columbia Banking System were worth $185,623,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Picton Mahoney Asset Management bought a new stake in shares of Columbia Banking System in the 2nd quarter valued at about $33,000. Abich Financial Wealth Management LLC lifted its stake in shares of Columbia Banking System by 85.1% in the first quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 1,020 shares during the period. GAMMA Investing LLC boosted its holdings in 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 acquiring an additional 1,387 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Columbia Banking System by 111.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 1,380 shares during the period. Finally, Hexagon Capital Partners LLC lifted its position in shares of Columbia Banking System by 137,166.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 4,118 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 4,115 shares during the period. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

COLB has been the subject of several recent analyst reports. Truist Financial increased their price objective on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Wedbush lifted their price objective on Columbia Banking System from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. dropped their price objective on Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Barclays raised their target price on Columbia Banking System from $25.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Finally, Wells Fargo & Company boosted their price target on Columbia Banking System from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $27.12.

Columbia Banking System Trading Up 3.2 %

NASDAQ COLB opened at $31.64 on Friday. The company has a fifty day simple moving average of $27.78 and a 200 day simple moving average of $23.81. Columbia Banking System, Inc. has a 12-month low of $17.08 and a 12-month high of $31.86. The company has a market cap of $6.63 billion, a P/E ratio of 13.70 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.62 by $0.07. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. The company had revenue of $765.06 million during the quarter, compared to the consensus estimate of $478.80 million. During the same period in the previous year, the firm posted $0.79 earnings per share. Sell-side analysts predict that Columbia Banking System, Inc. will post 2.63 EPS for the current year.

Columbia Banking System Dividend Announcement

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

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.