Russell Investments Group Ltd. Has $8.72 Million Stake in Columbia Banking System, Inc. $COLB

Key Points

• Russell Investments Group Ltd. increased its stake in Columbia Banking System by 33%, owning 349,836 shares valued at approximately $8.7 million after purchasing an additional 86,817 shares in the first quarter.
• Several institutional investors, including JPMorgan Chase & Co. and LSV Asset Management, significantly increased their holdings in Columbia Banking System during the first quarter, indicating strong interest from the investment community.
• The company's stock has a consensus rating of "Hold" with a target price of $28.86, and it recently declared a dividend of $0.36, yielding 5.6% annually.

Russell Investments Group Ltd. raised its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 33.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 349,836 shares of the financial services provider's stock after purchasing an additional 86,817 shares during the period. Russell Investments Group Ltd. owned 0.17% of Columbia Banking System worth $8,724,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. UMB Bank n.a. lifted its position in shares of Columbia Banking System by 141.3% during 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 last quarter. Kapitalo Investimentos Ltda bought a new position in Columbia Banking System in the 4th quarter worth approximately $42,000. Financial Harvest LLC acquired a new position in shares of Columbia Banking System during the first quarter worth approximately $53,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Columbia Banking System in the first quarter valued at approximately $95,000. Finally, Reyes Financial Architecture Inc. acquired a new stake in shares of Columbia Banking System in the first quarter worth $118,000. Institutional investors own 92.53% of the company's stock.

Columbia Banking System Stock Performance

Columbia Banking System stock traded up $1.65 during trading hours on Friday, hitting $26.97. 4,283,958 shares of the stock were exchanged, compared to its average volume of 2,453,158. The stock has a market capitalization of $5.67 billion, a P/E ratio of 10.70 and a beta of 0.62. The business's 50-day moving average is $24.31 and its two-hundred day moving average is $24.33. Columbia Banking System, Inc. has a 12 month low of $19.61 and a 12 month high of $32.85.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate 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%.Columbia Banking System's revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.67 EPS. On average, equities analysts predict 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. Stockholders 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 dividend yield of 5.3%. The ex-dividend date is Friday, August 29th. Columbia Banking System's dividend payout ratio is presently 57.14%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Piper Sandler increased their price target on shares of Columbia Banking System from $30.00 to $32.00 and gave the company an "overweight" 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 research note on Thursday, April 24th. Royal Bank Of Canada cut their price target on Columbia Banking System from $32.00 to $27.00 and set a "sector perform" rating for the company in a report on Thursday, April 24th. Stephens upgraded Columbia Banking System from an "equal weight" rating to an "overweight" rating and set a $30.00 target price for the company in a research note on Monday, August 4th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Columbia Banking System from $33.00 to $30.00 and set a "market perform" rating on the stock in a research report on Thursday, April 24th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price 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.