Dimensional Fund Advisors LP Raises Stake in Columbia Banking System, Inc. (NASDAQ:COLB)

Dimensional Fund Advisors LP raised its position in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 10.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,514,816 shares of the financial services provider's stock after purchasing an additional 512,542 shares during the period. Dimensional Fund Advisors LP owned 2.63% of Columbia Banking System worth $148,956,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tidal Investments LLC boosted its position in shares of Columbia Banking System by 1.1% in the 3rd quarter. Tidal Investments LLC now owns 43,184 shares of the financial services provider's stock valued at $1,128,000 after purchasing an additional 464 shares during the period. Arizona State Retirement System lifted its stake in Columbia Banking System by 0.8% in the fourth quarter. Arizona State Retirement System now owns 60,758 shares of the financial services provider's stock valued at $1,641,000 after buying an additional 469 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Columbia Banking System by 1.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 39,256 shares of the financial services provider's stock valued at $1,025,000 after acquiring an additional 544 shares during the period. Treasurer of the State of North Carolina grew its position in shares of Columbia Banking System by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 91,679 shares of the financial services provider's stock worth $2,476,000 after acquiring an additional 580 shares during the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of Columbia Banking System by 2.0% in the 4th quarter. Pacer Advisors Inc. now owns 31,238 shares of the financial services provider's stock valued at $844,000 after acquiring an additional 612 shares during the period. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Columbia Banking System Trading Down 1.3 %

Shares of NASDAQ:COLB traded down $0.30 during trading on Wednesday, hitting $22.42. 1,869,519 shares of the stock were exchanged, compared to its average volume of 1,773,742. The company has a market cap of $4.71 billion, a PE ratio of 8.83 and a beta of 0.53. The company has a fifty day moving average price of $23.79 and a two-hundred day moving average price of $26.93. Columbia Banking System, Inc. has a 12-month low of $18.11 and a 12-month high of $32.85.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.04. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. The company had revenue of $481.92 million for the quarter, compared to the consensus estimate of $482.86 million. During the same period in the previous year, the business earned $0.65 earnings per share. Columbia Banking System's quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts anticipate that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 6.42%. The ex-dividend date of this dividend was Friday, February 28th. Columbia Banking System's dividend payout ratio (DPR) is presently 61.02%.

Insider Activity

In related news, VP Torran B. Nixon sold 4,481 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $25.99, for a total value of $116,461.19. Following the sale, the vice president now owns 104,869 shares of the company's stock, valued at approximately $2,725,545.31. This represents a 4.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.68% of the company's stock.

Analyst Ratings Changes

COLB has been the subject of a number of recent research reports. Keefe, Bruyette & Woods decreased their price target on shares of Columbia Banking System from $33.00 to $30.00 and set a "market perform" rating for the company in a research note on Thursday, April 24th. Barclays raised their price target on Columbia Banking System from $27.00 to $32.00 and gave the stock an "equal weight" rating in a report on Friday, April 25th. Stephens reduced their price objective on Columbia Banking System from $33.00 to $31.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 28th. Wells Fargo & Company increased their price objective on Columbia Banking System from $26.00 to $29.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Finally, Citigroup dropped their target price on Columbia Banking System from $31.00 to $30.00 and set a "neutral" rating on the stock in a report on Monday, January 27th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $29.85.

Columbia Banking System Profile

Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.