BNP PARIBAS ASSET MANAGEMENT Holding S.A. Has $13.86 Million Stock Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 23.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 530,997 shares of the financial services provider’s stock after purchasing an additional 99,296 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.25% of Columbia Banking System worth $13,864,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Allworth Financial LP grew its stake in Columbia Banking System by 0.3% in the 3rd quarter. Allworth Financial LP now owns 175,538 shares of the financial services provider’s stock valued at $4,583,000 after buying an additional 458 shares during the last quarter. Sippican Capital Advisors grew its position in shares of Columbia Banking System by 0.5% in the third quarter. Sippican Capital Advisors now owns 111,172 shares of the financial services provider’s stock valued at $2,903,000 after purchasing an additional 552 shares during the last quarter. Caprock Group LLC increased its stake in shares of Columbia Banking System by 2.5% during the third quarter. Caprock Group LLC now owns 28,371 shares of the financial services provider’s stock worth $741,000 after purchasing an additional 682 shares during the period. Signaturefd LLC lifted its holdings in Columbia Banking System by 14.0% during the 3rd quarter. Signaturefd LLC now owns 5,767 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 709 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its stake in Columbia Banking System by 2.9% in the 3rd quarter. Bleakley Financial Group LLC now owns 25,111 shares of the financial services provider’s stock valued at $656,000 after purchasing an additional 718 shares during the period. 92.53% of the stock is owned by institutional investors.

Columbia Banking System Stock Up 3.2 %

COLB stock opened at $31.64 on Friday. The firm has a market cap of $6.63 billion, a price-to-earnings ratio of 13.70 and a beta of 0.62. The company’s fifty day simple moving average is $27.78 and its 200 day simple moving average is $23.81. Columbia Banking System, Inc. has a 12-month low of $17.08 and a 12-month high of $31.86.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. The company had revenue of $765.06 million for the quarter, compared to the consensus estimate of $478.80 million. During the same period in the previous year, the business earned $0.79 EPS. Research analysts expect that Columbia Banking System, Inc. will post 2.63 earnings per share for the current year.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date of this dividend is Friday, November 29th. Columbia Banking System’s payout ratio is 62.34%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Wells Fargo & Company lifted their price objective on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Truist Financial increased their target price on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. StockNews.com upgraded shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Saturday, October 5th. Finally, Royal Bank of Canada increased their price target on Columbia Banking System from $29.00 to $31.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Columbia Banking System has an average rating of “Hold” and an average target price of $27.12.

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.