Columbia Banking System, Inc. (NASDAQ:COLB) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. raised its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 126.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,959 shares of the financial services provider's stock after acquiring an additional 12,275 shares during the quarter. QRG Capital Management Inc.'s holdings in Columbia Banking System were worth $548,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC lifted its holdings in Columbia Banking System by 2.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 125,545 shares of the financial services provider's stock worth $3,131,000 after buying an additional 3,271 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Columbia Banking System by 3.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 40,952 shares of the financial services provider's stock valued at $1,021,000 after acquiring an additional 1,548 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Columbia Banking System by 34.5% during the 1st quarter. GAMMA Investing LLC now owns 5,331 shares of the financial services provider's stock valued at $133,000 after acquiring an additional 1,368 shares in the last quarter. Range Financial Group LLC lifted its stake in Columbia Banking System by 3.5% during the first quarter. Range Financial Group LLC now owns 71,509 shares of the financial services provider's stock worth $1,783,000 after purchasing an additional 2,429 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in Columbia Banking System by 141.3% during the first 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 last quarter. 92.53% of the stock is owned by institutional investors and hedge funds.

Columbia Banking System Stock Down 0.6%

COLB stock traded down $0.14 during trading on Wednesday, reaching $22.92. 1,694,981 shares of the company's stock were exchanged, compared to its average volume of 1,794,020. Columbia Banking System, Inc. has a 1-year low of $18.41 and a 1-year high of $32.85. The firm has a market cap of $4.82 billion, a PE ratio of 9.71 and a beta of 0.63. The company's fifty day moving average price is $23.42 and its 200-day moving average price is $25.29.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.04. The company had revenue of $481.92 million for the quarter, compared to the consensus estimate of $482.86 million. Columbia Banking System had a net margin of 16.85% and a return on equity of 11.12%. Columbia Banking System's revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.65 EPS. As a group, sell-side analysts expect that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.44 annualized dividend and a yield of 6.28%. Columbia Banking System's payout ratio is 61.02%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of Columbia Banking System from $26.00 to $29.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Wall Street Zen started coverage on shares of Columbia Banking System in a research note on Thursday, May 22nd. They set a "hold" rating on the stock. DA Davidson lifted 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. Barclays upped their target price on Columbia Banking System from $27.00 to $32.00 and gave the company an "equal weight" rating in a report on Friday, April 25th. Finally, Jefferies Financial Group assumed coverage on Columbia Banking System in a research report on Wednesday, May 21st. They set a "hold" rating and a $27.00 price objective for the company. Eleven research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $29.71.

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.