Sei Investments Co. Has $19.69 Million Holdings in Columbia Banking System, Inc. $COLB

Sei Investments Co. increased its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 13.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 717,785 shares of the financial services provider’s stock after purchasing an additional 82,379 shares during the period. Sei Investments Co.’s holdings in Columbia Banking System were worth $19,689,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Wellington Management Group LLP raised its position in Columbia Banking System by 31.4% during the 4th quarter. Wellington Management Group LLP now owns 18,106,228 shares of the financial services provider’s stock worth $506,069,000 after purchasing an additional 4,324,006 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Columbia Banking System by 3.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 13,549,603 shares of the financial services provider’s stock valued at $371,656,000 after buying an additional 408,087 shares during the last quarter. State Street Corp increased its stake in shares of Columbia Banking System by 32.5% in the third quarter. State Street Corp now owns 13,407,671 shares of the financial services provider’s stock valued at $345,113,000 after buying an additional 3,290,560 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Columbia Banking System by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,564,529 shares of the financial services provider’s stock valued at $351,179,000 after buying an additional 163,543 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Columbia Banking System by 140.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,666,769 shares of the financial services provider’s stock worth $242,237,000 after acquiring an additional 5,063,212 shares during the last quarter. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Columbia Banking System news, CMO Devine David Moore sold 3,872 shares of Columbia Banking System stock in a transaction on Monday, June 8th. The shares were sold at an average price of $29.77, for a total value of $115,269.44. Following the completion of the sale, the chief marketing officer directly owned 18,636 shares of the company’s stock, valued at approximately $554,793.72. The trade was a 17.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Stephens lifted their price objective on Columbia Banking System from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Fundamental Research set a $35.00 price target on shares of Columbia Banking System in a report on Wednesday, July 1st. UBS Group initiated coverage on shares of Columbia Banking System in a research report on Tuesday, April 7th. They issued a “neutral” rating and a $30.00 price target on the stock. Barclays upped their price objective on shares of Columbia Banking System from $29.00 to $31.00 and gave the company an “equal weight” rating in a research note on Friday, July 24th. Finally, Piper Sandler increased their price objective on shares of Columbia Banking System from $34.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $33.27.

Columbia Banking System Price Performance

NASDAQ COLB opened at $30.78 on Thursday. The stock has a market capitalization of $8.91 billion, a P/E ratio of 12.26, a P/E/G ratio of 2.14 and a beta of 0.62. The business has a 50 day simple moving average of $31.10 and a 200 day simple moving average of $29.75. Columbia Banking System, Inc. has a one year low of $22.77 and a one year high of $33.67.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.03. The firm had revenue of $680.00 million for the quarter, compared to analyst estimates of $687.40 million. Columbia Banking System had a return on equity of 11.33% and a net margin of 19.96%.During the same period in the previous year, the firm earned $0.76 earnings per share. Equities analysts expect that Columbia Banking System, Inc. will post 3.03 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.48 annualized dividend and a yield of 4.8%. Columbia Banking System’s dividend payout ratio is currently 58.96%.

About Columbia Banking System

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.