American Century Companies Inc. Has $188.72 Million Stock Position in Columbia Banking System, Inc. $COLB

Key Points

• American Century Companies Inc. reduced its stake in Columbia Banking System by 0.5%, now owning approximately 3.60% of the company, valued at $188.72 million.
• Columbia Banking System recently reported $0.76 EPS for the quarter, exceeding estimates, and an 8.2% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.36, translating to an annualized yield of 5.6% and a payout ratio of 57.14%.

American Century Companies Inc. reduced its stake in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 0.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,567,090 shares of the financial services provider's stock after selling 35,481 shares during the period. American Century Companies Inc. owned 3.60% of Columbia Banking System worth $188,723,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. T. Rowe Price Investment Management Inc. boosted its position in shares of Columbia Banking System by 0.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 12,625,834 shares of the financial services provider's stock worth $341,024,000 after purchasing an additional 33,477 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Columbia Banking System by 4.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 7,667,271 shares of the financial services provider's stock worth $191,222,000 after acquiring an additional 351,375 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Columbia Banking System by 18.4% during the first quarter. Dimensional Fund Advisors LP now owns 6,527,612 shares of the financial services provider's stock worth $162,791,000 after acquiring an additional 1,012,796 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Columbia Banking System by 221.3% during the first quarter. JPMorgan Chase & Co. now owns 5,947,950 shares of the financial services provider's stock worth $148,342,000 after acquiring an additional 4,096,733 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Columbia Banking System by 4.9% during the first quarter. Invesco Ltd. now owns 2,578,297 shares of the financial services provider's stock worth $64,303,000 after acquiring an additional 121,333 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors.

Columbia Banking System Price Performance

Shares of COLB traded down $0.1950 during midday trading on Wednesday, hitting $25.6150. The stock had a trading volume of 998,888 shares, compared to its average volume of 1,967,605. The company has a 50 day simple moving average of $24.14 and a two-hundred day simple moving average of $24.34. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of 10.18 and a beta of 0.62. Columbia Banking System, Inc. has a twelve month low of $19.61 and a twelve month high of $32.85.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.10. The business had revenue of $511.55 million for the quarter, compared to the consensus estimate of $492.00 million. Columbia Banking System had a return on equity of 11.31% and a net margin of 17.98%.Columbia Banking System's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.67 earnings per share. Analysts forecast that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a $0.36 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.6%. Columbia Banking System's payout ratio is currently 57.14%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on COLB shares. Wells Fargo & Company lifted their target price on Columbia Banking System from $27.00 to $28.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. reduced their target price on Columbia Banking System from $26.50 to $24.00 and set a "neutral" rating on the stock in a report on Tuesday, July 1st. Jefferies Financial Group started coverage on Columbia Banking System in a report on Wednesday, May 21st. They set a "hold" rating and a $27.00 target price on the stock. Zacks Research upgraded Columbia Banking System to a "strong-buy" rating in a report on Monday, August 11th. Finally, DA Davidson lifted their target price on Columbia Banking System from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $28.86.

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.