Columbia Banking System, Inc. (NASDAQ:COLB) Shares Bought by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. lifted its holdings in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 23.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 162,561 shares of the financial services provider's stock after acquiring an additional 30,425 shares during the quarter. ZWJ Investment Counsel Inc. owned 0.08% of Columbia Banking System worth $4,055,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COLB. Aster Capital Management DIFC Ltd bought a new stake in Columbia Banking System during the 4th quarter valued at $29,000. SBI Securities Co. Ltd. purchased a new position in shares of Columbia Banking System during the fourth quarter valued at about $32,000. UMB Bank n.a. increased its position in shares of 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 valued at $41,000 after buying an additional 958 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Columbia Banking System during the fourth quarter valued at about $42,000. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Columbia Banking System during the fourth quarter valued at about $42,000. 92.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods reduced their price target 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. Jefferies Financial Group initiated coverage on shares of Columbia Banking System in a report on Wednesday, May 21st. They issued a "hold" rating and a $27.00 price objective on the stock. Royal Bank Of Canada dropped 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 note on Thursday, April 24th. Wall Street Zen began coverage on shares of Columbia Banking System in a research note on Thursday, May 22nd. They issued a "hold" rating on the stock. Finally, Wells Fargo & Company raised 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. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Columbia Banking System presently has an average rating of "Hold" and an average price target of $29.29.

Columbia Banking System Price Performance

COLB stock traded up $0.38 during midday trading on Friday, hitting $25.45. 2,244,870 shares of the stock traded hands, compared to its average volume of 1,818,652. The firm has a market cap of $5.35 billion, a P/E ratio of 10.78 and a beta of 0.62. The stock's fifty day simple moving average is $23.68 and its 200-day simple moving average is $25.02. Columbia Banking System, Inc. has a 1-year low of $19.08 and a 1-year high of $32.85.

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

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.66%. The ex-dividend date was Friday, May 30th. Columbia Banking System's dividend payout ratio is presently 61.02%.

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.