Linden Thomas Advisory Services LLC Acquires 1,779 Shares of Columbia Banking System, Inc. $COLB

Linden Thomas Advisory Services LLC increased its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 2.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,270 shares of the financial services provider’s stock after buying an additional 1,779 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Columbia Banking System were worth $1,713,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Geneos Wealth Management Inc. grew its holdings in Columbia Banking System by 194.6% during the first quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock worth $30,000 after buying an additional 794 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Columbia Banking System during the first quarter worth $37,000. Financial Harvest LLC bought a new stake in Columbia Banking System during the first quarter worth $53,000. UMB Bank n.a. grew its holdings in Columbia Banking System by 38.1% during the second quarter. UMB Bank n.a. now owns 2,259 shares of the financial services provider’s stock worth $53,000 after buying an additional 623 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in Columbia Banking System by 41.4% during the second quarter. Parallel Advisors LLC now owns 2,679 shares of the financial services provider’s stock worth $63,000 after buying an additional 785 shares in the last quarter. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Price Performance

Shares of COLB stock opened at $25.54 on Friday. The stock has a market capitalization of $5.37 billion, a PE ratio of 10.13 and a beta of 0.60. Columbia Banking System, Inc. has a 1-year low of $19.61 and a 1-year high of $32.85. The business has a 50-day moving average of $26.06 and a 200 day moving average of $24.53.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Monday, March 4th. The financial services provider reported $0.76 earnings per share for the quarter. The company had revenue of $348.47 million during the quarter. Columbia Banking System had a return on equity of 11.31% and a net margin of 17.98%. Analysts anticipate that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a $0.36 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.44 annualized dividend and a yield of 5.6%. Columbia Banking System’s dividend payout ratio (DPR) is 57.14%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on COLB shares. Zacks Research downgraded Columbia Banking System from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Barclays cut their price objective 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. JPMorgan Chase & Co. cut their price objective on Columbia Banking System from $26.50 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 1st. Raymond James Financial raised Columbia Banking System from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $27.00 to $31.00 in a research report on Monday, September 15th. Finally, Wells Fargo & Company boosted their price objective 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 research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $28.93.

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.