Pzena Investment Management LLC Has $58.12 Million Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

Pzena Investment Management LLC trimmed its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 8.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,225,764 shares of the financial services provider’s stock after selling 206,683 shares during the period. Pzena Investment Management LLC’s holdings in Columbia Banking System were worth $58,115,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management acquired a new stake in shares of Columbia Banking System in the second quarter valued at approximately $33,000. Abich Financial Wealth Management LLC increased its holdings in shares of Columbia Banking System by 85.1% during the 1st quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 1,020 shares during the last quarter. GAMMA Investing LLC raised its stake in Columbia Banking System by 144.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 1,387 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Columbia Banking System by 111.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 1,380 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its position in Columbia Banking System by 137,166.7% during the second quarter. Hexagon Capital Partners LLC now owns 4,118 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 4,115 shares during the last quarter. 92.53% of the stock is owned by institutional investors.

Columbia Banking System Stock Down 0.5 %

NASDAQ:COLB traded down $0.14 during trading hours on Wednesday, hitting $30.01. 228,693 shares of the company traded hands, compared to its average volume of 2,244,209. Columbia Banking System, Inc. has a one year low of $17.08 and a one year high of $31.86. The company has a market cap of $6.29 billion, a PE ratio of 13.05 and a beta of 0.62. The firm’s 50-day simple moving average is $27.37 and its 200-day simple moving average is $23.62.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. The company had revenue of $765.06 million for the quarter, compared to analysts’ expectations of $478.80 million. During the same quarter in the previous year, the firm posted $0.79 EPS. As a group, equities research analysts expect that Columbia Banking System, Inc. will post 2.62 EPS for the current year.

Columbia Banking System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, November 29th. This represents a $1.44 annualized dividend and a dividend yield of 4.80%. Columbia Banking System’s dividend payout ratio is currently 62.34%.

Analyst Ratings Changes

A number of research analysts have commented on COLB shares. StockNews.com raised Columbia Banking System from a “sell” rating to a “hold” rating in a report on Saturday, October 5th. Keefe, Bruyette & Woods raised their price target on shares of Columbia Banking System from $23.00 to $27.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Stephens boosted their price objective on shares of Columbia Banking System from $22.00 to $26.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Raymond James increased their target price on shares of Columbia Banking System from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Barclays boosted their price target on Columbia Banking System from $25.00 to $29.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Columbia Banking System has a consensus rating of “Hold” and a consensus price target of $27.12.

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.