Amundi Boosts Stock Holdings in Columbia Banking System, Inc. $COLB

Key Points

• Amundi increased its Columbia Banking System stake by 52.7% in the second quarter, bringing its holdings to 102,500 shares valued at approximately $3.29 million. Institutional investors collectively own 92.53% of the company.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $33.62, above its recent $30.11 opening price.
• Columbia Banking System reported quarterly EPS of $0.76, exceeding estimates of $0.73, and declared a quarterly dividend of $0.37 per share, representing a 4.9% annualized yield.

Amundi boosted its stake in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 52.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 102,500 shares of the financial services provider's stock after purchasing an additional 35,365 shares during the quarter. Amundi's holdings in Columbia Banking System were worth $3,285,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in COLB. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Columbia Banking System in the second quarter worth about $29,000. Geneos Wealth Management Inc. grew its holdings in Columbia Banking System by 194.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider's stock valued at $30,000 after buying an additional 794 shares in the last quarter. Cedar Mountain Advisors LLC increased its stake in Columbia Banking System by 571.7% in the 1st quarter. Cedar Mountain Advisors LLC now owns 1,115 shares of the financial services provider's stock worth $31,000 after acquiring an additional 949 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in Columbia Banking System in the 2nd quarter worth approximately $31,000. Finally, Rossby Financial LCC purchased a new stake in shares of Columbia Banking System during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 92.53% of the company's stock.

Wall Street Analysts Forecast Growth

COLB has been the subject of a number of recent research reports. Wells Fargo & Company raised their target price on shares of Columbia Banking System from $32.00 to $34.00 and gave the company an "equal weight" rating in a report on Monday, August 10th. Royal Bank Of Canada increased their price objective on shares of Columbia Banking System from $34.00 to $35.00 and gave the company a "sector perform" rating in a research report on Friday, July 24th. Weiss Ratings cut shares of Columbia Banking System from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday. Barclays reduced their target price on shares of Columbia Banking System from $31.00 to $30.00 and set an "equal weight" rating on the stock in a report on Monday, August 3rd. Finally, Fundamental Research set a $35.00 target price on shares of Columbia Banking System in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $33.62.

Columbia Banking System Stock Up 0.2%

Shares of COLB opened at $30.11 on Friday. The company has a market cap of $8.52 billion, a PE ratio of 12.00, a P/E/G ratio of 2.98 and a beta of 0.62. The business has a fifty day moving average of $31.37 and a 200 day moving average of $29.94. Columbia Banking System, Inc. has a 52-week low of $23.83 and a 52-week high of $33.67.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.73 by $0.03. The company had revenue of $677.00 million during 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 period in the previous year, the firm earned $0.76 earnings per share. As a group, research analysts anticipate that Columbia Banking System, Inc. will post 3.03 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 28th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.9%. The ex-dividend date is Friday, August 28th. Columbia Banking System's dividend payout ratio is presently 58.96%.

Columbia Banking System Company Profile

Columbia Banking System, Inc is a regional bank holding company headquartered in Tacoma, Washington. Through its principal subsidiary, Columbia Bank, the company provides banking and financial services to individuals, families, businesses, professionals and public-sector organizations.

Its products and services include consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, lines of credit, treasury management, wealth management, mortgage services and digital banking.

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