Pzena Investment Management LLC Has $36.05 Million Stock Holdings in Columbia Banking System, Inc. $COLB

Pzena Investment Management LLC grew its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 8.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,541,697 shares of the financial services provider’s stock after purchasing an additional 121,758 shares during the period. Pzena Investment Management LLC’s holdings in Columbia Banking System were worth $36,045,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. boosted its stake in shares of Columbia Banking System by 194.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 794 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Columbia Banking System in the first quarter valued at about $37,000. UMB Bank n.a. raised its holdings in shares of Columbia Banking System by 141.3% in the first quarter. UMB Bank n.a. now owns 1,636 shares of the financial services provider’s stock valued at $41,000 after buying an additional 958 shares during the last quarter. Financial Harvest LLC bought a new position in shares of Columbia Banking System in the first quarter valued at about $53,000. Finally, Parallel Advisors LLC raised its holdings in shares of Columbia Banking System by 41.4% in the second quarter. Parallel Advisors LLC now owns 2,679 shares of the financial services provider’s stock valued at $63,000 after buying an additional 785 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Columbia Banking System Stock Down 3.0%

NASDAQ:COLB opened at $24.90 on Monday. Columbia Banking System, Inc. has a 12-month low of $19.61 and a 12-month high of $32.85. The firm has a market capitalization of $5.24 billion, a P/E ratio of 9.88 and a beta of 0.60. The stock’s fifty day simple moving average is $25.94 and its 200-day simple moving average is $24.36.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings results on Monday, March 4th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter. Columbia Banking System had a return on equity of 11.31% and a net margin of 17.98%.The business had revenue of $348.47 million for the quarter. As a group, equities research analysts expect that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a $0.36 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.8%. Columbia Banking System’s dividend payout ratio is 57.14%.

Analysts Set New Price Targets

COLB has been the subject of a number of research analyst reports. Cowen initiated coverage on Columbia Banking System in a report on Wednesday, September 24th. They issued a “hold” rating for the company. Barclays cut their price target on Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating for the company in a report on Wednesday. Citigroup reaffirmed a “neutral” rating and issued a $26.00 price target (up from $22.00) on shares of Columbia Banking System in a report on Monday, July 28th. Raymond James Financial raised Columbia Banking System from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $27.00 to $31.00 in a report on Monday, September 15th. Finally, Piper Sandler boosted their price objective on Columbia Banking System from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $29.33.

About Columbia Banking System

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.