State of Alaska Department of Revenue grew its holdings in Columbia Banking System, Inc. (NASDAQ:COLB – Get Rating) by 8.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 58,897 shares of the financial services provider's stock after purchasing an additional 4,670 shares during the quarter. State of Alaska Department of Revenue owned 0.07% of Columbia Banking System worth $1,687,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in COLB. Apella Capital LLC acquired a new stake in Columbia Banking System in the second quarter valued at approximately $359,000. Bank of America Corp DE raised its holdings in Columbia Banking System by 28.5% in the first quarter. Bank of America Corp DE now owns 425,972 shares of the financial services provider's stock valued at $13,747,000 after acquiring an additional 94,497 shares in the last quarter. Walleye Capital LLC acquired a new stake in Columbia Banking System in the first quarter valued at approximately $398,000. Keeley Teton Advisors LLC raised its holdings in Columbia Banking System by 21.6% in the first quarter. Keeley Teton Advisors LLC now owns 151,612 shares of the financial services provider's stock valued at $4,893,000 after acquiring an additional 26,926 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC acquired a new stake in Columbia Banking System in the first quarter valued at approximately $5,324,000. Hedge funds and other institutional investors own 94.45% of the company's stock.

Analyst Ratings Changes

Separately, Raymond James reduced their target price on shares of Columbia Banking System from $38.00 to $34.00 and set an "outperform" rating on the stock in a report on Thursday, July 7th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Columbia Banking System presently has an average rating of "Hold" and an average price target of $34.80.

Columbia Banking System Trading Down 1.0 %

Columbia Banking System (NASDAQ:COLB – Get Rating) last announced its earnings results on Thursday, July 21st. The financial services provider reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.02. The business had revenue of $172.46 million for the quarter, compared to analysts' expectations of $177.77 million. Columbia Banking System had a net margin of 31.28% and a return on equity of 9.68%. During the same period in the previous year, the company posted $0.77 EPS. On average, equities research analysts predict that Columbia Banking System, Inc. will post 2.8 earnings per share for the current year.

Columbia Banking System Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 17th. Stockholders of record on Wednesday, August 3rd were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 2nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.03%. Columbia Banking System's payout ratio is 43.17%.

About Columbia Banking System

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Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that 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 noninterest and interest-bearing checking, savings, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and other personal loans; debit and credit cards; and digital banking services.

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