ZWJ Investment Counsel Inc. Raises Stake in Columbia Banking System, Inc. $COLB

ZWJ Investment Counsel Inc. grew its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 11.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 246,906 shares of the financial services provider’s stock after acquiring an additional 26,236 shares during the period. ZWJ Investment Counsel Inc.’s holdings in Columbia Banking System were worth $6,355,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. West Oak Capital LLC bought a new position in Columbia Banking System during the 3rd quarter valued at approximately $28,000. Geneos Wealth Management Inc. increased its holdings in shares of 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 valued at $30,000 after acquiring an additional 794 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Columbia Banking System by 53.5% during the second quarter. Bessemer Group Inc. now owns 1,790 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 624 shares in the last quarter. UMB Bank n.a. raised its position in shares of Columbia Banking System by 38.1% in the 2nd quarter. UMB Bank n.a. now owns 2,259 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 623 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its stake in Columbia Banking System by 51.3% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 2,270 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 770 shares in the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Columbia Banking System Stock Down 0.3%

Shares of NASDAQ:COLB opened at $28.51 on Thursday. Columbia Banking System, Inc. has a twelve month low of $19.61 and a twelve month high of $29.61. The stock has a market capitalization of $8.53 billion, a PE ratio of 12.84 and a beta of 0.62. The firm’s 50 day moving average price is $27.24 and its 200-day moving average price is $25.83.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Monday, March 4th. The financial services provider reported $0.76 earnings per share for the quarter. The business had revenue of $348.47 million for the quarter. Columbia Banking System had a net margin of 15.98% and a return on equity of 11.13%. Analysts expect that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 5.2%. This is an increase from Columbia Banking System’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, November 28th. Columbia Banking System’s dividend payout ratio is 66.67%.

Wall Street Analyst Weigh In

COLB has been the subject of a number of analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Columbia Banking System in a research note on Monday. Zacks Research cut shares of Columbia Banking System from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Cowen assumed coverage on shares of Columbia Banking System in a research report on Wednesday, September 24th. They set a “hold” rating for the company. Citigroup increased their target price on Columbia Banking System from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Finally, JPMorgan Chase & Co. boosted their price target on Columbia Banking System from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $29.58.

Columbia Banking System Profile

Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.

The company’s offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.