Dimensional Fund Advisors LP Has $371.66 Million Stock Position in Columbia Banking System, Inc. $COLB

Dimensional Fund Advisors LP lifted its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 3.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 13,549,603 shares of the financial services provider’s stock after buying an additional 408,087 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Columbia Banking System were worth $371,656,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in COLB. AQR Capital Management LLC lifted its position in shares of Columbia Banking System by 35.4% in the 1st quarter. AQR Capital Management LLC now owns 56,675 shares of the financial services provider’s stock valued at $1,402,000 after acquiring an additional 14,824 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Columbia Banking System by 23.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 82,719 shares of the financial services provider’s stock worth $2,063,000 after purchasing an additional 15,845 shares in the last quarter. Millennium Management LLC grew its position in Columbia Banking System by 572.7% during the 1st quarter. Millennium Management LLC now owns 484,730 shares of the financial services provider’s stock worth $12,089,000 after purchasing an additional 412,674 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Columbia Banking System by 28.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 492,775 shares of the financial services provider’s stock worth $12,290,000 after purchasing an additional 108,994 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Columbia Banking System by 1.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 887,267 shares of the financial services provider’s stock valued at $22,128,000 after purchasing an additional 16,165 shares during the period. 92.53% of the stock is owned by hedge funds and other institutional investors.

Columbia Banking System Stock Performance

Shares of COLB opened at $32.85 on Wednesday. The company has a market capitalization of $9.51 billion, a PE ratio of 13.09, a PEG ratio of 2.23 and a beta of 0.62. The company’s 50 day moving average price is $30.80 and its 200 day moving average price is $29.63. Columbia Banking System, Inc. has a 52 week low of $22.77 and a 52 week high of $33.67.

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The company had revenue of $675.00 million during the quarter, compared to the consensus estimate of $677.34 million. Columbia Banking System had a net margin of 19.28% and a return on equity of 11.41%. The company’s revenue was up 37.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.67 EPS. On average, equities analysts forecast that Columbia Banking System, Inc. will post 3.05 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.5%. Columbia Banking System’s dividend payout ratio is 58.96%.

Insider Buying and Selling at Columbia Banking System

In related news, CMO Devine David Moore sold 3,872 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $29.77, for a total transaction of $115,269.44. Following the completion of the sale, the chief marketing officer directly owned 18,636 shares in the company, valued at approximately $554,793.72. This trade represents a 17.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

COLB has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on Columbia Banking System from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Wednesday, July 1st. Wells Fargo & Company lifted their price target on Columbia Banking System from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Piper Sandler upped their price target on Columbia Banking System from $34.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. UBS Group began coverage on Columbia Banking System in a research note on Tuesday, April 7th. They issued a “neutral” rating and a $30.00 price objective for the company. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Columbia Banking System in a research note on Monday, June 29th. One 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. According to data from MarketBeat.com, Columbia Banking System has a consensus rating of “Hold” and an average price target of $32.81.

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.