Jones Financial Companies Lllp Acquires 161,870 Shares of Columbia Banking System, Inc. $COLB

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 stake in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 15,995.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 162,882 shares of the financial services provider's stock after acquiring an additional 161,870 shares during the period. Jones Financial Companies Lllp owned 0.08% of Columbia Banking System worth $4,062,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. State of Michigan Retirement System boosted its holdings in shares of Columbia Banking System by 1.0% during the 1st quarter. State of Michigan Retirement System now owns 50,141 shares of the financial services provider's stock worth $1,251,000 after buying an additional 500 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Columbia Banking System by 0.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 58,700 shares of the financial services provider's stock worth $1,464,000 after purchasing an additional 500 shares in the last quarter. Xponance Inc. lifted its holdings in shares of Columbia Banking System by 2.2% in the 1st quarter. Xponance Inc. now owns 24,313 shares of the financial services provider's stock worth $606,000 after purchasing an additional 517 shares in the last quarter. Sippican Capital Advisors lifted its holdings in shares of Columbia Banking System by 0.5% in the 1st quarter. Sippican Capital Advisors now owns 108,027 shares of the financial services provider's stock worth $2,694,000 after purchasing an additional 540 shares in the last quarter. Finally, Mengis Capital Management Inc. lifted its holdings in shares of Columbia Banking System by 1.2% in the 1st quarter. Mengis Capital Management Inc. now owns 49,982 shares of the financial services provider's stock worth $1,247,000 after purchasing an additional 572 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors.

Columbia Banking System Price Performance

Shares of Columbia Banking System stock traded down $0.48 during trading hours on Tuesday, hitting $25.36. 4,500,589 shares of the company's stock traded hands, compared to its average volume of 5,497,622. Columbia Banking System, Inc. has a 12-month low of $19.61 and a 12-month high of $32.85. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of 10.06 and a beta of 0.66. The company has a fifty day simple moving average of $25.31 and a 200-day simple moving average of $24.23.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.76 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $492.00 million. During the same quarter last year, the firm posted $0.67 EPS. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. On average, analysts forecast that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a $0.36 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.44 annualized dividend and a yield of 5.7%. Columbia Banking System's dividend payout ratio (DPR) is 57.14%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. DA Davidson increased 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. 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 report on Tuesday, September 2nd. Wells Fargo & Company increased 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. Barclays increased their price target on Columbia Banking System from $27.00 to $30.00 and gave the company an "equal weight" rating in a research report on Monday, July 28th. Finally, Jefferies Financial Group began coverage on Columbia Banking System in a research report on Wednesday, May 21st. They issued a "hold" rating and a $27.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $29.36.

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.