Nordea Investment Management AB Increases Position in Columbia Banking System, Inc. $COLB

Nordea Investment Management AB raised its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 14.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 602,984 shares of the financial services provider’s stock after acquiring an additional 76,740 shares during the period. Nordea Investment Management AB owned approximately 0.29% of Columbia Banking System worth $15,370,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in COLB. True Wealth Design LLC increased its holdings in shares of Columbia Banking System by 612.8% in the third quarter. True Wealth Design LLC now owns 1,005 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 864 shares during the last quarter. West Oak Capital LLC purchased a new stake in Columbia Banking System in the 3rd quarter valued at $28,000. Geneos Wealth Management Inc. increased its stake in shares of Columbia Banking System by 194.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 794 shares during the last quarter. First Horizon Corp purchased a new position in shares of Columbia Banking System during the 3rd quarter worth $31,000. Finally, Bessemer Group Inc. raised its holdings in shares of Columbia Banking System by 53.5% during the 2nd quarter. Bessemer Group Inc. now owns 1,790 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 624 shares during the period. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on COLB shares. Royal Bank Of Canada set a $30.00 price objective on shares of Columbia Banking System and gave the company a “sector perform” rating in a report on Monday. Cowen reiterated a “hold” rating on shares of Columbia Banking System in a report on Wednesday, January 7th. Barclays raised their price target on shares of Columbia Banking System from $29.00 to $30.00 and gave the stock an “equal weight” rating in a report on Friday, December 19th. Citigroup upped their price objective on Columbia Banking System from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Finally, TD Cowen increased their price objective on Columbia Banking System from $28.00 to $32.00 and gave the stock a “hold” rating in a research report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, Columbia Banking System presently has a consensus rating of “Hold” and a consensus target price of $30.08.

Columbia Banking System Stock Performance

Columbia Banking System stock opened at $29.25 on Friday. The company’s 50 day simple moving average is $28.13 and its 200-day simple moving average is $26.43. Columbia Banking System, Inc. has a 1 year low of $19.61 and a 1 year high of $29.72. The company has a market capitalization of $8.75 billion, a price-to-earnings ratio of 13.18 and a beta of 0.60.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, October 30th. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.19. The firm had revenue of $577.00 million during the quarter, compared to the consensus estimate of $565.11 million. Columbia Banking System had a net margin of 15.98% and a return on equity of 11.13%. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 EPS. Equities analysts expect that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, November 28th. This is a boost from Columbia Banking System’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.1%. Columbia Banking System’s payout ratio is presently 66.67%.

Columbia Banking System Company Profile

Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.

The company’s offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.