Bank of New York Mellon Corp Sells 206,167 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Bank of New York Mellon Corp lessened its holdings in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 5.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,709,139 shares of the financial services provider's stock after selling 206,167 shares during the period. Bank of New York Mellon Corp owned 1.77% of Columbia Banking System worth $100,184,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Securities Inc. increased its position in Columbia Banking System by 171.3% during the 4th quarter. Principal Securities Inc. now owns 2,127 shares of the financial services provider's stock worth $57,000 after purchasing an additional 1,343 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Columbia Banking System by 1,507.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,855 shares of the financial services provider's stock worth $127,000 after purchasing an additional 4,553 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Columbia Banking System by 14.9% during the fourth quarter. Blue Trust Inc. now owns 6,745 shares of the financial services provider's stock worth $176,000 after buying an additional 875 shares in the last quarter. Wedmont Private Capital acquired a new position in shares of Columbia Banking System in the fourth quarter valued at approximately $209,000. Finally, BSW Wealth Partners purchased a new position in shares of Columbia Banking System during the third quarter valued at approximately $222,000. Hedge funds and other institutional investors own 92.53% of the company's stock.

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Insider Buying and Selling

In related news, VP Torran B. Nixon sold 4,481 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $25.99, for a total value of $116,461.19. Following the completion of the sale, the vice president now owns 104,869 shares in the company, valued at approximately $2,725,545.31. This trade represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.62% of the stock is owned by insiders.

Columbia Banking System Trading Down 0.3 %

Shares of Columbia Banking System stock traded down $0.08 on Wednesday, reaching $25.25. 1,936,585 shares of the company were exchanged, compared to its average volume of 1,431,550. Columbia Banking System, Inc. has a fifty-two week low of $17.08 and a fifty-two week high of $32.85. The stock has a fifty day moving average price of $27.45 and a 200-day moving average price of $27.46. The firm has a market capitalization of $5.29 billion, a price-to-earnings ratio of 9.94 and a beta of 0.66.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its quarterly 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 net margin of 17.99% and a return on equity of 11.21%. On average, equities analysts anticipate that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 5.70%. The ex-dividend date of this dividend is Friday, February 28th. Columbia Banking System's dividend payout ratio is 56.69%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on COLB shares. Stephens cut their price objective on shares of Columbia Banking System from $33.00 to $31.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 28th. Citigroup lowered their price objective on shares of Columbia Banking System from $31.00 to $30.00 and set a "neutral" rating for the company in a research note on Monday, January 27th. UBS Group assumed coverage on Columbia Banking System in a research report on Tuesday, December 17th. They issued a "neutral" rating and a $32.00 target price on the stock. Barclays boosted their price target on Columbia Banking System from $29.00 to $33.00 and gave the company an "equal weight" rating in a research report on Thursday, December 5th. Finally, JPMorgan Chase & Co. cut their price objective on Columbia Banking System from $32.00 to $30.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $30.38.

Columbia Banking System Company 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.