Columbia Banking System, Inc. $COLB Shares Purchased by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Columbia Banking System by 0.9% during the first quarter, owning over 12.7 million shares valued at approximately $317.8 million as of its latest SEC filing.
• Columbia Banking System recently announced a quarterly dividend of $0.36 per share, resulting in a 5.6% yield, with a payout ratio of 57.14%.
• Shares of Columbia Banking System are currently priced at $25.61, showing a decrease of 0.8%, with a 52-week range between $19.61 and $32.85.

T. Rowe Price Investment Management Inc. boosted its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,742,629 shares of the financial services provider's stock after buying an additional 116,795 shares during the quarter. T. Rowe Price Investment Management Inc. owned 6.06% of Columbia Banking System worth $317,802,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of COLB. Mariner LLC boosted its stake in Columbia Banking System by 17.0% during the fourth quarter. Mariner LLC now owns 27,221 shares of the financial services provider's stock worth $735,000 after buying an additional 3,950 shares during the period. Guggenheim Capital LLC boosted its stake in Columbia Banking System by 3.5% during the fourth quarter. Guggenheim Capital LLC now owns 30,223 shares of the financial services provider's stock worth $816,000 after buying an additional 1,029 shares during the period. Marshall Wace LLP purchased a new position in Columbia Banking System during the fourth quarter worth about $312,000. Forum Financial Management LP purchased a new position in Columbia Banking System during the fourth quarter worth about $208,000. Finally, First Trust Advisors LP boosted its stake in shares of Columbia Banking System by 13.1% in the fourth quarter. First Trust Advisors LP now owns 1,556,095 shares of the financial services provider's stock valued at $42,030,000 after purchasing an additional 180,323 shares during the period. Hedge funds and other institutional investors own 92.53% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on COLB shares. JPMorgan Chase & Co. lowered their price objective on shares of Columbia Banking System from $26.50 to $24.00 and set a "neutral" rating for the company in a research note on Tuesday, July 1st. Zacks Research raised shares of Columbia Banking System to a "strong-buy" rating in a research note on Monday, August 11th. DA Davidson raised their price objective on shares of Columbia Banking System from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. Wall Street Zen started coverage on shares of Columbia Banking System in a research note on Thursday, May 22nd. They issued a "hold" rating for the company. Finally, Raymond James Financial set a $27.00 price objective on shares of Columbia Banking System and gave the company an "outperform" rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $28.86.

Columbia Banking System Stock Down 0.8%

Shares of Columbia Banking System stock opened at $25.61 on Thursday. Columbia Banking System, Inc. has a 52-week low of $19.61 and a 52-week high of $32.85. The company has a 50 day moving average of $24.18 and a 200 day moving average of $24.35. The company has a market capitalization of $5.39 billion, a P/E ratio of 10.16 and a beta of 0.62.

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

Columbia Banking System Dividend Announcement

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

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.

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