Nordea Investment Management AB Has $12.35 Million Stake in Columbia Banking System, Inc. $COLB

Nordea Investment Management AB raised its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 33.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 526,244 shares of the financial services provider’s stock after buying an additional 132,489 shares during the quarter. Nordea Investment Management AB’s holdings in Columbia Banking System were worth $12,351,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. New York State Teachers Retirement System lifted its stake in Columbia Banking System by 2.2% in the second quarter. New York State Teachers Retirement System now owns 290,672 shares of the financial services provider’s stock valued at $6,796,000 after buying an additional 6,185 shares during the period. Verdence Capital Advisors LLC lifted its stake in Columbia Banking System by 2.0% in the second quarter. Verdence Capital Advisors LLC now owns 20,714 shares of the financial services provider’s stock valued at $484,000 after buying an additional 403 shares during the period. Sequoia Financial Advisors LLC acquired a new position in Columbia Banking System in the second quarter valued at about $289,000. Pzena Investment Management LLC lifted its stake in Columbia Banking System by 8.6% in the second quarter. Pzena Investment Management LLC now owns 1,541,697 shares of the financial services provider’s stock valued at $36,045,000 after buying an additional 121,758 shares during the period. Finally, Sippican Capital Advisors lifted its stake in Columbia Banking System by 2.6% in the second quarter. Sippican Capital Advisors now owns 110,842 shares of the financial services provider’s stock valued at $2,591,000 after buying an additional 2,815 shares during the period. Institutional investors and hedge funds own 92.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Zacks Research lowered Columbia Banking System from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Barclays dropped their price target on Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Columbia Banking System in a research report on Tuesday, October 14th. Royal Bank Of Canada raised their price target on Columbia Banking System from $27.00 to $28.00 and gave the stock a “sector perform” rating in a research report on Friday, October 10th. Finally, Wells Fargo & Company raised their price target on Columbia Banking System from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and thirteen have given a Hold rating to the company’s stock. According to MarketBeat.com, Columbia Banking System presently has an average rating of “Hold” and a consensus price target of $29.33.

Columbia Banking System Stock Performance

Shares of Columbia Banking System stock opened at $24.32 on Monday. The business’s 50 day simple moving average is $26.08 and its 200 day simple moving average is $24.39. Columbia Banking System, Inc. has a 52-week low of $19.61 and a 52-week high of $32.85. The firm has a market cap of $5.11 billion, a PE ratio of 9.65 and a beta of 0.60.

Columbia Banking System (NASDAQ:COLB) last announced its 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 predict that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend was Friday, August 29th. Columbia Banking System’s dividend payout ratio (DPR) is currently 57.14%.

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.