Dimensional Fund Advisors LP Raises Holdings in Columbia Banking System, Inc. $COLB

Key Points

• Dimensional Fund Advisors LP increased its stake in Columbia Banking System by 18.4%, owning over 6.5 million shares valued at approximately $162.8 million.
• Columbia Banking System announced a quarterly dividend of $0.36, representing an annualized yield of 5.6%, to be paid on September 15.
• Analysts have mixed sentiments about Columbia Banking System, with price targets ranging from $24.00 to $28.86, while maintaining a consensus rating of "Hold".

Dimensional Fund Advisors LP raised its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 18.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,527,612 shares of the financial services provider's stock after purchasing an additional 1,012,796 shares during the period. Dimensional Fund Advisors LP owned 3.11% of Columbia Banking System worth $162,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. UMB Bank n.a. boosted its holdings in shares of Columbia Banking System by 141.3% in the 1st 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 period. Kapitalo Investimentos Ltda purchased a new position in Columbia Banking System during the fourth quarter worth $42,000. Financial Harvest LLC purchased a new position in Columbia Banking System during the first quarter worth $53,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Columbia Banking System during the first quarter valued at $95,000. Finally, Reyes Financial Architecture Inc. bought a new position in Columbia Banking System during the first quarter valued at $118,000. 92.53% of the stock is owned by institutional investors.

Columbia Banking System Stock Performance

COLB traded down $0.07 during trading on Monday, hitting $26.90. 3,267,545 shares of the stock were exchanged, compared to its average volume of 2,370,850. The firm has a 50 day simple moving average of $24.39 and a 200 day simple moving average of $24.27. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of 10.67 and a beta of 0.62. Columbia Banking System, Inc. has a 1 year low of $19.61 and a 1 year high of $32.85.

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, topping analysts' consensus estimates of $0.66 by $0.10. The business had revenue of $511.55 million for the quarter, compared to the consensus estimate of $492.00 million. Columbia Banking System had a return on equity of 11.31% and a net margin of 17.98%.The business's revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.67 EPS. As a group, equities 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 firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.4%. The ex-dividend date is Friday, August 29th. Columbia Banking System's dividend payout ratio is presently 57.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Citigroup restated a "neutral" rating and issued a $26.00 target price (up previously from $22.00) on shares of Columbia Banking System in a report on Monday, July 28th. Piper Sandler increased their price objective on shares of Columbia Banking System from $30.00 to $32.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Wall Street Zen initiated coverage on Columbia Banking System in a research report on Thursday, May 22nd. They set a "hold" rating for the company. JPMorgan Chase & Co. cut their target price on Columbia Banking System from $26.50 to $24.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 1st. Finally, Jefferies Financial Group began coverage on Columbia Banking System in a report on Wednesday, May 21st. They issued a "hold" rating and a $27.00 price target on the stock. One 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 company. Based on data from MarketBeat.com, the stock 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.