Farther Finance Advisors LLC cut its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB – Free Report) by 11.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,291 shares of the financial services provider’s stock after selling 564 shares during the period. Farther Finance Advisors LLC’s holdings in Columbia Banking System were worth $116,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Janney Montgomery Scott LLC lifted its holdings in Columbia Banking System by 3.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 122,274 shares of the financial services provider’s stock worth $3,303,000 after buying an additional 4,408 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Columbia Banking System by 2.0% during the 4th quarter. Pacer Advisors Inc. now owns 31,238 shares of the financial services provider’s stock worth $844,000 after buying an additional 612 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Columbia Banking System during the 3rd quarter worth $288,000. Nordea Investment Management AB lifted its holdings in Columbia Banking System by 82.0% during the 4th quarter. Nordea Investment Management AB now owns 391,286 shares of the financial services provider’s stock worth $10,592,000 after buying an additional 176,334 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Columbia Banking System by 15.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 716,673 shares of the financial services provider’s stock worth $18,712,000 after buying an additional 97,498 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research firms have issued reports on COLB. Keefe, Bruyette & Woods reduced their price objective on Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating on the stock in a report on Friday, January 24th. Barclays increased their price target on Columbia Banking System from $29.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. cut their price target on Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Citigroup cut their price target on Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Finally, UBS Group assumed coverage on Columbia Banking System in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 price target on the stock. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Columbia Banking System presently has an average rating of “Hold” and a consensus target price of $31.25.
Check Out Our Latest Analysis on Columbia Banking System
Columbia Banking System Trading Up 0.4 %
COLB stock opened at $24.72 on Friday. The stock has a 50-day moving average price of $26.81 and a two-hundred day moving average price of $27.43. The stock has a market cap of $5.18 billion, a PE ratio of 9.73 and a beta of 0.62. Columbia Banking System, Inc. has a 1 year low of $17.08 and a 1 year high of $32.85.
Columbia Banking System (NASDAQ:COLB – Get Free Report) last released its earnings results on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. On average, analysts forecast that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.
Columbia Banking System Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.83%. The ex-dividend date of this dividend was Friday, February 28th. Columbia Banking System’s payout ratio is 56.69%.
Insider Activity
In other news, VP Torran B. Nixon sold 4,481 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $25.99, for a total value of $116,461.19. Following the completion of the transaction, the vice president now owns 104,869 shares in the company, valued at $2,725,545.31. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.62% of the stock is owned by corporate insiders.
Columbia Banking System Profile
(Free Report)
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.
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