Columbia Banking System, Inc. $COLB Shares Purchased by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Columbia Banking System by 4.9% during Q1, owning approximately 1.23% of the company worth $64.3 million.
• Columbia Banking System reported a Q2 EPS of $0.76, beating estimates by $0.10, with revenue of $511.55 million, surpassing expectations of $492 million.
• The company declared a quarterly dividend of $0.36, resulting in a 5.6% yield, with shares scheduled to be paid on September 15th.

Invesco Ltd. lifted its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 4.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,578,297 shares of the financial services provider's stock after acquiring an additional 121,333 shares during the quarter. Invesco Ltd. owned 1.23% of Columbia Banking System worth $64,303,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of COLB. Bank of Montreal Can lifted its stake in Columbia Banking System by 6.4% in the 4th quarter. Bank of Montreal Can now owns 42,545 shares of the financial services provider's stock valued at $1,149,000 after buying an additional 2,565 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Columbia Banking System in the 4th quarter valued at approximately $22,476,000. Mariner LLC lifted its stake in Columbia Banking System by 17.0% in the 4th quarter. Mariner LLC now owns 27,221 shares of the financial services provider's stock valued at $735,000 after buying an additional 3,950 shares in the last quarter. Guggenheim Capital LLC lifted its stake in Columbia Banking System by 3.5% in the 4th quarter. Guggenheim Capital LLC now owns 30,223 shares of the financial services provider's stock valued at $816,000 after buying an additional 1,029 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in Columbia Banking System in the 4th quarter valued at approximately $797,000. Hedge funds and other institutional investors own 92.53% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on COLB shares. DA Davidson boosted their price target on Columbia Banking System from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. Barclays boosted their price target on Columbia Banking System from $27.00 to $30.00 and gave the company an "equal weight" rating in a report on Monday, July 28th. Raymond James Financial set a $27.00 price target on Columbia Banking System and gave the company an "outperform" rating in a report on Thursday, April 24th. Wells Fargo & Company boosted their price target on Columbia Banking System from $27.00 to $28.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Finally, Wall Street Zen started coverage on Columbia Banking System in a report on Thursday, May 22nd. They issued a "hold" rating for the company. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $28.86.

Columbia Banking System Stock Down 1.1%

Shares of COLB stock traded down $0.29 on Thursday, reaching $25.32. 1,984,437 shares of the stock were exchanged, compared to its average volume of 2,513,797. The stock has a market cap of $5.32 billion, a P/E ratio of 10.05 and a beta of 0.62. The firm has a 50 day moving average of $24.22 and a two-hundred day moving average of $24.34. 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 released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.10. The business had revenue of $511.55 million during 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 for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.67 EPS. On average, equities research analysts predict that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders 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 dividend yield of 5.7%. The ex-dividend date is Friday, August 29th. Columbia Banking System's dividend payout ratio is presently 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.