Handelsbanken Fonder AB Has $1.20 Million Holdings in Columbia Banking System, Inc. $COLB

Handelsbanken Fonder AB trimmed its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 6.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,421 shares of the financial services provider’s stock after selling 3,800 shares during the period. Handelsbanken Fonder AB’s holdings in Columbia Banking System were worth $1,202,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in shares of Columbia Banking System by 221.3% during the first quarter. JPMorgan Chase & Co. now owns 5,947,950 shares of the financial services provider’s stock worth $148,342,000 after purchasing an additional 4,096,733 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Columbia Banking System by 18.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,527,612 shares of the financial services provider’s stock worth $162,791,000 after buying an additional 1,012,796 shares in the last quarter. MetLife Investment Management LLC lifted its position in Columbia Banking System by 528.4% during the 1st quarter. MetLife Investment Management LLC now owns 742,107 shares of the financial services provider’s stock worth $18,508,000 after buying an additional 624,011 shares in the last quarter. LSV Asset Management grew its holdings in Columbia Banking System by 81.5% during the 1st quarter. LSV Asset Management now owns 1,331,143 shares of the financial services provider’s stock worth $33,199,000 after acquiring an additional 597,710 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in Columbia Banking System in the 1st quarter valued at about $12,588,000. Institutional investors own 92.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on COLB shares. Citigroup upped their target price on shares of Columbia Banking System from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Stephens upgraded shares of Columbia Banking System from an “equal weight” rating to an “overweight” rating and set a $30.00 price objective for the company in a research report on Monday, August 4th. Keefe, Bruyette & Woods upgraded Columbia Banking System from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $30.00 to $31.00 in a research report on Friday, October 10th. Royal Bank Of Canada lifted their target price on Columbia Banking System from $27.00 to $28.00 and gave the company a “sector perform” rating in a research note on Friday, October 10th. Finally, Cowen started coverage on Columbia Banking System in a research report on Wednesday, September 24th. They set a “hold” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, Columbia Banking System has a consensus rating of “Hold” and a consensus price target of $29.38.

Columbia Banking System Stock Performance

Shares of Columbia Banking System stock opened at $28.36 on Friday. The firm has a fifty day moving average of $26.26 and a two-hundred day moving average of $25.23. The stock has a market capitalization of $8.48 billion, a price-to-earnings ratio of 11.25 and a beta of 0.67. Columbia Banking System, Inc. has a 52 week low of $19.61 and a 52 week high of $32.24.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Monday, March 4th. The financial services provider reported $0.76 EPS for the quarter. The business 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%. As a group, research analysts forecast that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be paid a $0.37 dividend. This is a boost from Columbia Banking System’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.2%. Columbia Banking System’s dividend payout ratio (DPR) is currently 66.67%.

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.