Columbia Banking System, Inc. (NASDAQ:COLB) Shares Bought by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Columbia Banking System, owning 7,667,271 shares, which is a 4.8% rise and valued at approximately $191.22 million.
• Columbia Banking System reported earnings of $0.76 per share, surpassing estimates and showing an 8.2% year-over-year revenue increase to $511.55 million.
• The company announced a quarterly dividend of $0.36, representing an annual yield of 6.0% with a payout ratio of 57.14%.

Charles Schwab Investment Management Inc. grew its holdings in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 4.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,667,271 shares of the financial services provider's stock after buying an additional 351,375 shares during the quarter. Charles Schwab Investment Management Inc. owned about 3.65% of Columbia Banking System worth $191,222,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of COLB. UMB Bank n.a. raised its holdings in Columbia Banking System by 141.3% during the first quarter. UMB Bank n.a. now owns 1,636 shares of the financial services provider's stock worth $41,000 after purchasing an additional 958 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in Columbia Banking System during the fourth quarter worth $42,000. Financial Harvest LLC acquired a new position in Columbia Banking System during the first quarter worth $53,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Columbia Banking System in the first quarter worth $95,000. Finally, Reyes Financial Architecture Inc. acquired a new position in shares of Columbia Banking System in the first quarter worth $118,000. 92.53% of the stock is owned by institutional investors and hedge funds.

Columbia Banking System Price Performance

COLB stock traded down $0.42 during trading on Thursday, reaching $25.71. 624,219 shares of the stock traded hands, compared to its average volume of 1,956,277. The business's 50 day moving average price is $23.97 and its 200-day moving average price is $24.43. Columbia Banking System, Inc. has a 52-week low of $19.61 and a 52-week high of $32.85. The firm has a market capitalization of $5.41 billion, a PE ratio of 10.19 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its quarterly 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. Columbia Banking System had a return on equity of 11.31% and a net margin of 17.98%. The firm had revenue of $511.55 million during the quarter, compared to the consensus estimate of $492.00 million. During the same quarter in the previous year, the business earned $0.67 earnings per share. The firm's quarterly revenue was up 8.2% compared to the same quarter last year. On average, equities research analysts predict that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend was Friday, May 30th. Columbia Banking System's payout ratio is 57.14%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Citigroup reissued a "neutral" rating and issued a $26.00 price target (up from $22.00) on shares of Columbia Banking System in a report on Monday, July 28th. Raymond James Financial set a $27.00 price target on Columbia Banking System and gave the stock an "outperform" rating in a report on Thursday, April 24th. DA Davidson boosted their price target on Columbia Banking System from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. Jefferies Financial Group assumed coverage on Columbia Banking System in a report on Wednesday, May 21st. They issued a "hold" rating and a $27.00 price target for the company. Finally, Barclays boosted their price target on Columbia Banking System from $27.00 to $30.00 and gave the stock an "equal weight" rating in a report on Monday, July 28th. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $28.86.

Columbia Banking System Company 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.