ARGA Investment Management LP Lowers Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

ARGA Investment Management LP decreased its holdings in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 39.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,047 shares of the financial services provider's stock after selling 59,023 shares during the quarter. ARGA Investment Management LP's holdings in Columbia Banking System were worth $2,432,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of COLB. Allworth Financial LP raised its stake in shares of Columbia Banking System by 0.3% during the third quarter. Allworth Financial LP now owns 175,538 shares of the financial services provider's stock worth $4,583,000 after purchasing an additional 458 shares during the last quarter. Tidal Investments LLC raised its position in Columbia Banking System by 1.1% during the 3rd quarter. Tidal Investments LLC now owns 43,184 shares of the financial services provider's stock worth $1,128,000 after buying an additional 464 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Columbia Banking System by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 39,256 shares of the financial services provider's stock worth $1,025,000 after buying an additional 544 shares during the last quarter. Sippican Capital Advisors lifted its stake in shares of Columbia Banking System by 0.5% in the 3rd quarter. Sippican Capital Advisors now owns 111,172 shares of the financial services provider's stock worth $2,903,000 after acquiring an additional 552 shares during the period. Finally, Pacer Advisors Inc. boosted its holdings in shares of Columbia Banking System by 2.0% in the fourth quarter. Pacer Advisors Inc. now owns 31,238 shares of the financial services provider's stock valued at $844,000 after acquiring an additional 612 shares in the last quarter. Institutional investors and hedge funds own 92.53% of the company's stock.

Columbia Banking System Trading Down 2.6 %

Shares of NASDAQ COLB traded down $0.74 during trading on Friday, reaching $27.79. The company had a trading volume of 1,057,232 shares, compared to its average volume of 1,421,892. The stock has a market capitalization of $5.82 billion, a PE ratio of 10.94 and a beta of 0.66. Columbia Banking System, Inc. has a twelve month low of $17.08 and a twelve month high of $32.85. The stock has a 50-day moving average price of $28.16 and a two-hundred day moving average price of $27.09.

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, beating analysts' consensus estimates of $0.65 by $0.06. Columbia Banking System had a net margin of 17.99% and a return on equity of 11.21%. On average, sell-side analysts predict that Columbia Banking System, Inc. will post 2.72 EPS for the current year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a dividend of $0.36 per share. The ex-dividend date was Friday, November 29th. This represents a $1.44 dividend on an annualized basis and a yield of 5.18%. Columbia Banking System's dividend payout ratio (DPR) is currently 56.69%.

Analysts Set New Price Targets

Several research analysts recently issued reports on COLB shares. Wells Fargo & Company raised shares of Columbia Banking System from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $33.00 to $35.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods cut their target price on Columbia Banking System from $34.00 to $33.00 and set a "market perform" rating for the company in a research note on Friday, January 24th. Royal Bank of Canada lifted their price target on Columbia Banking System from $29.00 to $31.00 and gave the company a "sector perform" rating in a research note on Friday, October 25th. Wedbush increased their price objective on Columbia Banking System from $31.00 to $35.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. Finally, Stephens decreased their target price on shares of Columbia Banking System from $33.00 to $31.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 28th. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Columbia Banking System has a consensus rating of "Hold" and an average price target of $30.38.

About Columbia Banking System

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.