Charles Schwab Investment Management Inc. Has $185.62 Million Stock Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Charles Schwab Investment Management Inc. raised its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 2.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,109,253 shares of the financial services provider’s stock after acquiring an additional 178,327 shares during the period. Charles Schwab Investment Management Inc. owned approximately 3.39% of Columbia Banking System worth $185,623,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Columbia Banking System by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 22,327,719 shares of the financial services provider’s stock worth $432,041,000 after purchasing an additional 574,509 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Columbia Banking System by 6.7% during the second quarter. American Century Companies Inc. now owns 6,191,704 shares of the financial services provider’s stock worth $123,153,000 after buying an additional 386,751 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Columbia Banking System by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 4,718,494 shares of the financial services provider’s stock valued at $93,851,000 after acquiring an additional 23,963 shares during the period. Silvercrest Asset Management Group LLC grew its stake in shares of Columbia Banking System by 21.4% in the first quarter. Silvercrest Asset Management Group LLC now owns 4,468,643 shares of the financial services provider’s stock valued at $86,468,000 after acquiring an additional 788,383 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Columbia Banking System by 812.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,182,655 shares of the financial services provider’s stock worth $63,295,000 after acquiring an additional 2,833,744 shares during the period. Institutional investors and hedge funds own 92.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wedbush increased their target price on shares of Columbia Banking System from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Wells Fargo & Company increased their price target on Columbia Banking System from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Royal Bank of Canada lifted their price objective on Columbia Banking System from $29.00 to $31.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Raymond James upped their target price on Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Barclays raised their price target on Columbia Banking System from $25.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $27.12.

Columbia Banking System Trading Up 3.2 %

Shares of Columbia Banking System stock opened at $31.64 on Friday. The firm’s 50 day moving average is $27.78 and its 200 day moving average is $23.81. The firm has a market capitalization of $6.63 billion, a PE ratio of 13.70 and a beta of 0.62. Columbia Banking System, Inc. has a 1 year low of $17.08 and a 1 year high of $31.86.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The firm had revenue of $765.06 million for the quarter, compared to analyst estimates of $478.80 million. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. During the same quarter last year, the business posted $0.79 earnings per share. As a group, research analysts anticipate that Columbia Banking System, Inc. will post 2.63 earnings per share for the current year.

Columbia Banking System Dividend Announcement

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

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.