Envestnet Asset Management Inc. holds $2.71 million stake in Columbia Banking System, Inc. (NASDAQ:COLB)


Envestnet Asset Management Inc. increased its stake in Columbia Banking System, Inc. (NASDAQ:COLBGet a rating) by 14.1% in the 1st quarter, according to its last filing with the Securities & Exchange Commission. The institutional investor held 84,082 shares of the financial services provider after purchasing an additional 10,373 shares during the quarter. Envestnet Asset Management Inc. owned 0.11% of Columbia Banking System worth $2,713,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its position in shares of Columbia Banking System by 38.2% in the fourth quarter. State Street Corp now owns 4,957,374 shares of the financial services provider valued at $162,205,000 after buying an additional 1,370,893 shares last quarter. Millennium Management LLC acquired a new position in Columbia Banking System in Q4 worth $35,816,000. Westwood Holdings Group Inc. increased its stake in Columbia Banking System by 45.8% in the fourth quarter. Westwood Holdings Group Inc. now owns 2,009,137 shares of the financial services provider valued at $65,739,000 after acquiring an additional 631,265 shares last quarter. Thrivent Financial for Lutherans increased its position in Columbia Banking System shares by 36.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,810,456 shares of the financial services provider valued at $59,238,000 after acquiring an additional 480,745 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings of Columbia Banking System shares by 15.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,348,653 shares of the financial services provider worth $109,568,000 after buying an additional 458,588 shares in the last quarter. Institutional investors hold 94.44% of the company’s shares.

Insider buying and selling

In other Columbia Banking System news, Director Craig D. Eerkes bought 1,694 shares of the company in a trade on Friday, June 10. The shares were purchased at an average cost of $28.52 per share, for a total transaction of $48,312.88. Following the transaction, the administrator now owns 20,227 shares of the company, valued at approximately $576,874.04. The transaction was disclosed in a legal filing with the SEC, accessible via this hyperlink. Insiders acquired a total of 2,713 shares of the company worth $74,593 over the past ninety days. Insiders of the company hold 0.62% of the shares of the company.

Columbia Banking System Price Performance

Shares of Columbia Banking System Action opened at $32.76 on Wednesday. The company’s 50-day moving average price is $29.44 and its two-hundred-day moving average price is $31.29. The company has a market capitalization of $2.58 billion, a P/E ratio of 11.78 and a beta of 0.67. Columbia Banking System, Inc. has a fifty-two week low of $26.97 and a fifty-two week high of $40.78.

Colombian banking system (NASDAQ:COLBGet a rating) last released its quarterly earnings data on Thursday, July 21. The financial services provider reported earnings per share of $0.75 for the quarter, missing the consensus estimate of $0.77 per ($0.02). Columbia Banking System had a net margin of 31.28% and a return on equity of 9.68%. During the same period last year, the company posted EPS of $0.77. On average, analysts expect Columbia Banking System, Inc. to post earnings per share of 2.71 for the current year.

Columbia Banking System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 17. Investors of record on Wednesday, August 3 will receive a dividend of $0.30. The ex-dividend date is Tuesday, August 2. This represents a dividend of $1.20 on an annualized basis and a yield of 3.66%. Columbia Banking System’s dividend payout ratio (DPR) is currently 43.17%.

A Wall Street analyst gives his opinion

Several research companies have recently weighed in on COLB. Royal Bank of Canada raised its price target on Columbia Banking System shares from $35.00 to $36.00 and gave the stock an ‘sector performance’ rating in a Friday research report April 22. Raymond James lowered his price target on Columbia Banking System shares from $38.00 to $34.00 and gave the stock an “outperform” rating in a Thursday, July 7 research note. Finally, Piper Sandler reduced her target price on Columbia Banking System from $35.00 to $31.00 in a Monday, May 2 research note. Four research analysts gave the stock a hold rating and two gave the stock a buy rating. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $34.80.

About the Columbia Banking System

(Get a rating)

Columbia Banking System, Inc operates as a bank holding company for Columbia State Bank which provides a range of banking services to small and medium-sized businesses, professionals and individuals in the United States. It offers personal banking products and services, including interest-free and interest-bearing checks, savings accounts, money market and certificates of deposit; home mortgages for purchases and refinances, home equity loans and lines of credit and other personal loans; debit and credit cards; and digital banking.

See also

Institutional ownership by quarter for Columbia Banking System (NASDAQ:COLB)

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