Principal Financial Group Inc. Raises Position in Columbia Banking System, Inc. (COLB)

Principal Financial Group Inc. increased its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 13.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 545,824 shares of the financial services provider’s stock after purchasing an additional 65,278 shares during the quarter. Principal Financial Group Inc. owned approximately 0.94% of Columbia Banking System worth $21,751,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First National Bank of Omaha purchased a new stake in shares of Columbia Banking System during the second quarter worth approximately $1,066,000. Tudor Investment Corp ET AL increased its position in shares of Columbia Banking System by 70.4% during the first quarter. Tudor Investment Corp ET AL now owns 9,313 shares of the financial services provider’s stock worth $363,000 after purchasing an additional 3,849 shares in the last quarter. Nationwide Fund Advisors increased its position in shares of Columbia Banking System by 2.9% during the first quarter. Nationwide Fund Advisors now owns 88,645 shares of the financial services provider’s stock worth $3,456,000 after purchasing an additional 2,534 shares in the last quarter. BlackRock Inc. increased its position in shares of Columbia Banking System by 49,309.5% during the first quarter. BlackRock Inc. now owns 7,207,371 shares of the financial services provider’s stock worth $281,015,000 after purchasing an additional 7,192,784 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its position in shares of Columbia Banking System by 6.5% during the first quarter. Great West Life Assurance Co. Can now owns 80,938 shares of the financial services provider’s stock worth $3,154,000 after purchasing an additional 4,974 shares in the last quarter. Hedge funds and other institutional investors own 96.75% of the company’s stock.

Several analysts recently commented on the company. Royal Bank Of Canada reiterated a “hold” rating and set a $42.00 price target on shares of Columbia Banking System in a research report on Friday, September 8th. BidaskClub cut Columbia Banking System from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Zacks Investment Research upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Piper Jaffray Companies upgraded Columbia Banking System from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $43.00 to $46.00 in a research report on Monday, July 31st. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $44.00 price target on shares of Columbia Banking System in a research report on Friday, June 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $44.40.

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Columbia Banking System, Inc. (COLB) opened at 37.77 on Wednesday. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 19.18 and a beta of 1.24. Columbia Banking System, Inc. has a 1-year low of $31.60 and a 1-year high of $45.68. The firm’s 50-day moving average price is $37.87 and its 200-day moving average price is $38.79.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.01). Columbia Banking System had a net margin of 25.82% and a return on equity of 8.99%. The firm had revenue of $110.30 million during the quarter, compared to analysts’ expectations of $112.27 million. During the same period in the previous year, the business earned $0.44 earnings per share. On average, equities research analysts anticipate that Columbia Banking System, Inc. will post $2.03 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.33%. The ex-dividend date was Monday, August 7th. Columbia Banking System’s payout ratio is currently 44.67%.

In related news, CFO Clint Stein sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $40.09, for a total value of $320,720.00. Following the completion of the transaction, the chief financial officer now directly owns 22,877 shares of the company’s stock, valued at approximately $917,138.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.23% of the company’s stock.

About Columbia Banking System

Columbia Banking System, Inc (Columbia) is a bank holding company for Columbia State Bank (the Bank) and Columbia Trust Company (Columbia Trust). The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals. It offers products and services, which include Personal Banking, Business Banking and Wealth Management.

Institutional Ownership by Quarter for Columbia Banking System (NASDAQ:COLB)

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