Columbia Banking System, Inc. $COLB Stock Purchased by ZWJ Investment Counsel Inc.

by · The Cerbat Gem

ZWJ Investment Counsel Inc. raised its stake in Columbia Banking System, Inc. (NASDAQ:COLB – Free Report) by 6.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 332,845 shares of the financial services provider’s stock after acquiring an additional 21,164 shares during the period. ZWJ Investment Counsel Inc.’s holdings in Columbia Banking System were worth $9,519,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Columbia Banking System during the 2nd quarter worth $29,000. Cedar Mountain Advisors LLC raised its stake in Columbia Banking System by 571.7% in the first quarter. Cedar Mountain Advisors LLC now owns 1,115 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 949 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in Columbia Banking System in the second quarter valued at about $31,000. Elevation Wealth Partners LLC raised its stake in Columbia Banking System by 213.7% in the third quarter. Elevation Wealth Partners LLC now owns 1,352 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 921 shares in the last quarter. Finally, MBM Wealth Consultants LLC bought a new stake in Columbia Banking System during the first quarter worth about $49,000. 92.53% of the stock is currently owned by institutional investors.

Columbia Banking System Stock Performance

Shares of COLB stock opened at $28.03 on Thursday. Columbia Banking System, Inc. has a fifty-two week low of $23.83 and a fifty-two week high of $33.67. The stock’s fifty day moving average price is $30.04 and its two-hundred day moving average price is $30.17. The company has a market cap of $7.93 billion, a PE ratio of 11.17, a P/E/G ratio of 1.69 and a beta of 0.66.

Columbia Banking System (NASDAQ:COLB – Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. Columbia Banking System had a return on equity of 11.33% and a net margin of 19.96%. The company had revenue of $677.00 million during the quarter, compared to analysts’ expectations of $687.40 million. During the same quarter in the previous year, the firm earned $0.76 EPS. On average, equities analysts predict that Columbia Banking System, Inc. will post 3.04 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Friday, August 28th were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, August 28th. This represents a $1.48 annualized dividend and a yield of 5.3%. Columbia Banking System’s dividend payout ratio (DPR) is 58.96%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on COLB. DA Davidson raised shares of Columbia Banking System from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $33.00 to $36.00 in a research report on Tuesday, September 1st. Citigroup decreased their target price on shares of Columbia Banking System from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, September 22nd. Weiss Ratings upgraded shares of Columbia Banking System from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Columbia Banking System in a report on Tuesday. They set a “hold” rating and a $32.00 price target for the company. Finally, Zacks Research raised shares of Columbia Banking System from a “strong sell” rating to a “hold” rating in a report on Monday, August 31st. Five investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $33.23.

View Our Latest Analysis on COLB

Columbia Banking System Profile

(Free Report)

Columbia Banking System, Inc (NASDAQ: COLB) is a bank holding company headquartered in Tacoma, Washington. Through its subsidiary, Umpqua Bank, the company provides a range of banking and financial services to individuals, families, businesses and institutions.

Umpqua Bank’s offerings include deposit accounts, consumer and commercial lending, real estate finance, treasury management, cash management, investment services and other business banking solutions. The bank serves small and middle-market companies as well as retail customers through branches, digital banking platforms and relationship-based financial services.

Columbia Banking System traces its history to the formation of Columbia Bank in Washington in 1993.

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