Teacher Retirement System of Texas Buys 11,637 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Teacher Retirement System of Texas increased its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 23.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 61,990 shares of the financial services provider's stock after buying an additional 11,637 shares during the quarter. Teacher Retirement System of Texas' holdings in Columbia Banking System were worth $1,546,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in COLB. Sippican Capital Advisors boosted its holdings in Columbia Banking System by 0.5% during the first quarter. Sippican Capital Advisors now owns 108,027 shares of the financial services provider's stock worth $2,694,000 after purchasing an additional 540 shares during the last quarter. Capital Advisors Wealth Management LLC grew its stake in Columbia Banking System by 3.5% during the first quarter. Capital Advisors Wealth Management LLC now owns 122,099 shares of the financial services provider's stock worth $3,045,000 after buying an additional 4,152 shares in the last quarter. CWC Advisors LLC. increased its stake in Columbia Banking System by 33.4% in the first quarter. CWC Advisors LLC. now owns 12,476 shares of the financial services provider's stock valued at $311,000 after acquiring an additional 3,127 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Columbia Banking System by 12.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 170,750 shares of the financial services provider's stock worth $4,223,000 after buying an additional 19,130 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC boosted its stake in Columbia Banking System by 3.7% in the first quarter. Hunter Perkins Capital Management LLC now owns 197,851 shares of the financial services provider's stock valued at $4,934,000 after buying an additional 7,113 shares in the last quarter. 92.53% of the stock is owned by institutional investors and hedge funds.

Columbia Banking System Trading Down 3.5%

Shares of COLB stock traded down $0.88 during trading hours on Tuesday, hitting $24.05. 799,053 shares of the company were exchanged, compared to its average volume of 1,861,983. Columbia Banking System, Inc. has a 52-week low of $19.61 and a 52-week high of $32.85. The firm has a fifty day simple moving average of $23.89 and a 200 day simple moving average of $24.92. The stock has a market capitalization of $5.06 billion, a price-to-earnings ratio of 10.19 and a beta of 0.62.

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

Columbia Banking System Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.99%. The ex-dividend date of this dividend was Friday, May 30th. Columbia Banking System's dividend payout ratio (DPR) is presently 61.02%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on COLB shares. Royal Bank Of Canada reduced their price target on shares of Columbia Banking System from $32.00 to $27.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 24th. Jefferies Financial Group assumed coverage on Columbia Banking System in a research note on Wednesday, May 21st. They set a "hold" rating and a $27.00 price target on the stock. Barclays dropped their price target on shares of Columbia Banking System from $32.00 to $27.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 8th. Wall Street Zen initiated coverage on shares of Columbia Banking System in a research note on Thursday, May 22nd. They issued a "hold" rating on the stock. Finally, Raymond James Financial set a $27.00 target price on Columbia Banking System and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $28.79.

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.