Columbia Banking System, Inc. $COLB Stake Boosted by Jones Financial Companies Lllp

Key Points

• Jones Financial Companies Lllp significantly boosted its stake in Columbia Banking System, increasing its holdings by 15,995.1% during Q1, now owning approximately 0.08% of the company valued at $4.06 million.
• Columbia Banking System's recent earnings report showed $0.76 EPS, surpassing estimates, and an 8.2% year-over-year growth in revenue.
• The company announced a quarterly dividend of $0.36 per share, representing a yield of 5.5%, with a record date of August 29th.

Jones Financial Companies Lllp boosted its holdings in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 15,995.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 162,882 shares of the financial services provider's stock after purchasing an additional 161,870 shares during the quarter. Jones Financial Companies Lllp owned approximately 0.08% of Columbia Banking System worth $4,062,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. T. Rowe Price Investment Management Inc. lifted its position in shares of Columbia Banking System by 0.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 12,742,629 shares of the financial services provider's stock worth $317,802,000 after buying an additional 116,795 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake 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 during the period. Dimensional Fund Advisors LP lifted its holdings in Columbia Banking System by 18.4% in 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 during the last quarter. JPMorgan Chase & Co. boosted its stake in Columbia Banking System by 221.3% in the first quarter. JPMorgan Chase & Co. now owns 5,947,950 shares of the financial services provider's stock valued at $148,342,000 after acquiring an additional 4,096,733 shares during the period. Finally, Epoch Investment Partners Inc. grew its holdings in shares of Columbia Banking System by 13.3% during the first quarter. Epoch Investment Partners Inc. now owns 2,703,761 shares of the financial services provider's stock valued at $67,432,000 after purchasing an additional 316,988 shares during the last quarter. 92.53% of the stock is owned by institutional investors and hedge funds.

Columbia Banking System Price Performance

Shares of NASDAQ:COLB opened at $26.22 on Thursday. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 10.40 and a beta of 0.66. Columbia Banking System, Inc. has a 12 month low of $19.61 and a 12 month high of $32.85. The stock's 50 day moving average price is $25.27 and its 200 day moving average price is $24.26.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $511.55 million for the quarter, compared to analysts' expectations of $492.00 million. During the same period last year, the firm earned $0.67 EPS. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. On average, sell-side analysts expect that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Friday, August 29th. Columbia Banking System's payout ratio is presently 57.14%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on COLB shares. Wall Street Zen initiated coverage on Columbia Banking System in a report on Thursday, May 22nd. They issued a "hold" rating on the stock. Piper Sandler increased their target price on Columbia Banking System from $32.00 to $35.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 2nd. DA Davidson raised their target price on Columbia Banking System from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. Zacks Research upgraded shares of Columbia Banking System to a "strong-buy" rating in a research report on Monday, August 11th. Finally, Barclays increased their price objective on shares of Columbia Banking System from $27.00 to $30.00 and gave the stock an "equal weight" rating in a report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $29.07.

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.

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