M&T Bank Corp Has $310,000 Stake in Columbia Banking System, Inc. (NASDAQ:COLB)

M&T Bank Corp grew its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 17.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,859 shares of the financial services provider’s stock after purchasing an additional 1,727 shares during the period. M&T Bank Corp’s holdings in Columbia Banking System were worth $310,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Picton Mahoney Asset Management bought a new stake in Columbia Banking System in the 2nd quarter valued at approximately $33,000. Allspring Global Investments Holdings LLC lifted its position in shares of Columbia Banking System by 111.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 1,380 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Columbia Banking System by 54.9% during the third quarter. GAMMA Investing LLC now owns 3,640 shares of the financial services provider’s stock worth $95,000 after purchasing an additional 1,290 shares during the last quarter. Farther Finance Advisors LLC grew its position in Columbia Banking System by 1,507.6% in the third quarter. Farther Finance Advisors LLC now owns 4,855 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 4,553 shares in the last quarter. Finally, Signaturefd LLC grew its position in Columbia Banking System by 44.1% in the second quarter. Signaturefd LLC now owns 5,058 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 1,548 shares in the last quarter. 92.53% of the stock is owned by institutional investors and hedge funds.

Columbia Banking System Price Performance

Shares of Columbia Banking System stock opened at $26.80 on Thursday. The business has a fifty day simple moving average of $29.43 and a two-hundred day simple moving average of $25.14. Columbia Banking System, Inc. has a 1 year low of $17.08 and a 1 year high of $32.85. The company has a market capitalization of $5.62 billion, a price-to-earnings ratio of 11.60 and a beta of 0.64.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. The company had revenue of $765.06 million during the quarter, compared to analysts’ expectations 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 company posted $0.79 EPS. As a group, equities analysts anticipate that Columbia Banking System, Inc. will post 2.63 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date was Friday, November 29th. Columbia Banking System’s dividend payout ratio is presently 62.34%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Truist Financial boosted their price target on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Raymond James upped their target price on Columbia Banking System from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. StockNews.com upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. Royal Bank of Canada upped their price objective on Columbia Banking System from $29.00 to $31.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods increased their price objective on Columbia Banking System from $30.00 to $34.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Columbia Banking System currently has a consensus rating of “Hold” and an average target price of $29.00.

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.