Invesco Ltd. Has $64.30 Million Stock Holdings in Columbia Banking System, Inc. $COLB

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

Several other institutional investors and hedge funds have also modified their holdings of COLB. State of Michigan Retirement System raised its position in Columbia Banking System by 1.0% in 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 purchasing an additional 500 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Columbia Banking System by 0.9% during the first quarter. Louisiana State Employees Retirement System now owns 58,700 shares of the financial services provider's stock valued at $1,464,000 after acquiring an additional 500 shares during the period. Xponance Inc. lifted its stake in shares of Columbia Banking System by 2.2% during the first quarter. Xponance Inc. now owns 24,313 shares of the financial services provider's stock valued at $606,000 after acquiring an additional 517 shares during the period. Sippican Capital Advisors boosted its holdings in Columbia Banking System by 0.5% in the first quarter. Sippican Capital Advisors now owns 108,027 shares of the financial services provider's stock valued at $2,694,000 after acquiring an additional 540 shares during the last quarter. Finally, Mengis Capital Management Inc. increased its position in Columbia Banking System by 1.2% in the first 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 during the period. 92.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COLB has been the topic of a number of research reports. Royal Bank Of Canada cut their target price on shares of Columbia Banking System from $32.00 to $27.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 24th. Piper Sandler raised their price objective on shares of Columbia Banking System from $30.00 to $32.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. DA Davidson lifted their target price on shares of Columbia Banking System from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. Citigroup reissued a "neutral" rating and issued a $26.00 price target (up previously from $22.00) on shares of Columbia Banking System in a research note on Monday, July 28th. Finally, Stephens upgraded Columbia Banking System from an "equal weight" rating to an "overweight" rating and set a $30.00 price target on the stock in a research report on Monday, August 4th. 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. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $28.86.

Columbia Banking System Stock Performance

COLB stock traded down $0.2650 during midday trading on Wednesday, hitting $25.5450. 724,584 shares of the company's stock were exchanged, compared to its average volume of 1,965,861. Columbia Banking System, Inc. has a one year low of $19.61 and a one year high of $32.85. The company has a market cap of $5.37 billion, a PE ratio of 10.14 and a beta of 0.62. The stock's fifty day moving average price is $24.14 and its 200-day moving average price is $24.34.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last released its quarterly earnings results 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. 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 analyst estimates of $492.00 million. During the same quarter last year, the firm posted $0.67 earnings per share. Columbia Banking System's revenue was up 8.2% compared to the same quarter last year. On average, analysts expect that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.44 annualized dividend and a dividend yield of 5.6%. Columbia Banking System's dividend 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.