South Dakota Investment Council Has $6.48 Million Stock Position in Columbia Banking System, Inc. (NASDAQ:COLB)

South Dakota Investment Council trimmed its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 239,820 shares of the financial services provider’s stock after selling 4,025 shares during the period. South Dakota Investment Council owned approximately 0.11% of Columbia Banking System worth $6,478,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Principal Securities Inc. raised its position in Columbia Banking System by 171.3% during the fourth quarter. Principal Securities Inc. now owns 2,127 shares of the financial services provider’s stock valued at $57,000 after buying an additional 1,343 shares during the period. Farther Finance Advisors LLC raised its position in Columbia Banking System by 1,507.6% during the third quarter. Farther Finance Advisors LLC now owns 4,855 shares of the financial services provider’s stock valued at $127,000 after buying an additional 4,553 shares during the period. Signaturefd LLC raised its position in Columbia Banking System by 14.0% during the third quarter. Signaturefd LLC now owns 5,767 shares of the financial services provider’s stock valued at $151,000 after buying an additional 709 shares during the period. Blue Trust Inc. increased its position in Columbia Banking System by 14.9% in the 4th quarter. Blue Trust Inc. now owns 6,745 shares of the financial services provider’s stock worth $176,000 after purchasing an additional 875 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in Columbia Banking System in the 3rd quarter worth about $208,000. 92.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

COLB has been the topic of several research reports. UBS Group initiated coverage on Columbia Banking System in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 target price on the stock. Wells Fargo & Company raised Columbia Banking System from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $33.00 to $35.00 in a research report on Monday, January 6th. Stephens dropped their target price on Columbia Banking System from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Truist Financial upped their price target on Columbia Banking System from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Finally, Keefe, Bruyette & Woods decreased their price target on Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating for the company in a research note on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Columbia Banking System presently has an average rating of “Hold” and a consensus price target of $30.38.

Columbia Banking System Price Performance

COLB stock opened at $26.51 on Friday. The business has a fifty day moving average price of $27.63 and a 200 day moving average price of $27.29. Columbia Banking System, Inc. has a fifty-two week low of $17.08 and a fifty-two week high of $32.85. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of 10.44 and a beta of 0.66.

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

Columbia Banking System Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a dividend of $0.36 per share. The ex-dividend date is Friday, February 28th. This represents a $1.44 dividend on an annualized basis and a yield of 5.43%. Columbia Banking System’s dividend payout ratio 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.