Gamco Investors INC. ET AL Has $1.94 Million Stock Holdings in Columbia Banking System, Inc. $COLB

Gamco Investors INC. ET AL trimmed its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 45.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,842 shares of the financial services provider’s stock after selling 58,246 shares during the period. Gamco Investors INC. ET AL’s holdings in Columbia Banking System were worth $1,943,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP grew its stake in Columbia Banking System by 31.4% in the fourth quarter. Wellington Management Group LLP now owns 18,106,228 shares of the financial services provider’s stock valued at $506,069,000 after purchasing an additional 4,324,006 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Columbia Banking System by 3.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 13,549,603 shares of the financial services provider’s stock worth $371,656,000 after purchasing an additional 408,087 shares in the last quarter. State Street Corp lifted its holdings in shares of Columbia Banking System by 32.5% during the 3rd 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 last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Columbia Banking System by 1.3% during the 4th 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 last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Columbia Banking System by 140.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,666,769 shares of the financial services provider’s stock valued at $242,237,000 after buying an additional 5,063,212 shares in the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Piper Sandler increased their price objective on Columbia Banking System from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Royal Bank Of Canada lifted their target price on shares of Columbia Banking System from $34.00 to $35.00 and gave the company a “sector perform” rating in a research note on Friday, July 24th. Fundamental Research set a $35.00 target price on shares of Columbia Banking System in a research report on Wednesday, July 1st. Wells Fargo & Company boosted their target price on shares of Columbia Banking System from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. Finally, Stephens increased their price target on shares of Columbia Banking System from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $33.27.

Columbia Banking System Price Performance

Shares of NASDAQ:COLB opened at $31.27 on Wednesday. The stock has a market capitalization of $9.05 billion, a P/E ratio of 12.46, a P/E/G ratio of 2.11 and a beta of 0.62. The business has a 50-day moving average of $31.08 and a two-hundred day moving average of $29.74. Columbia Banking System, Inc. has a fifty-two week low of $22.77 and a fifty-two week high of $33.67.

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

Columbia Banking System Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend was Friday, May 29th. Columbia Banking System’s dividend payout ratio (DPR) is currently 58.96%.

Insider Activity

In other news, CMO Devine David Moore sold 3,872 shares of Columbia Banking System stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $29.77, for a total value of $115,269.44. Following the transaction, the chief marketing officer directly owned 18,636 shares in the company, 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. Corporate insiders own 0.57% of the company’s stock.

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.