Citigroup Inc. Sells 164,477 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Citigroup Inc. decreased its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 37.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 280,582 shares of the financial services provider's stock after selling 164,477 shares during the period. Citigroup Inc. owned 0.13% of Columbia Banking System worth $7,326,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in shares of Columbia Banking System by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,109,253 shares of the financial services provider's stock worth $185,623,000 after purchasing an additional 178,327 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Columbia Banking System by 6.7% during the second quarter. American Century Companies Inc. now owns 6,191,704 shares of the financial services provider's stock worth $123,153,000 after buying an additional 386,751 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Columbia Banking System by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 4,718,494 shares of the financial services provider's stock worth $93,851,000 after buying an additional 23,963 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Columbia Banking System by 812.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,182,655 shares of the financial services provider's stock valued at $63,295,000 after acquiring an additional 2,833,744 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Columbia Banking System by 1.6% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,330,133 shares of the financial services provider's stock worth $46,346,000 after acquiring an additional 36,867 shares during the last quarter. 92.53% of the stock is currently owned by institutional investors.

Columbia Banking System Trading Down 0.8 %

NASDAQ COLB traded down $0.25 during trading hours on Friday, reaching $31.01. 664,921 shares of the company's stock were exchanged, compared to its average volume of 1,498,795. The firm has a fifty day moving average of $28.41 and a 200-day moving average of $24.21. Columbia Banking System, Inc. has a one year low of $17.08 and a one year high of $32.85. The stock has a market cap of $6.50 billion, a PE ratio of 13.42 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.07. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. The company had revenue of $765.06 million during the quarter, compared to analyst estimates of $478.80 million. During the same period last year, the company posted $0.79 earnings per share. As a group, research analysts forecast that Columbia Banking System, Inc. will post 2.63 EPS for the current year.

Columbia Banking System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.36 per share. The ex-dividend date is Friday, November 29th. This represents a $1.44 annualized dividend and a dividend yield of 4.64%. Columbia Banking System's dividend payout ratio (DPR) is currently 62.34%.

Wall Street Analyst Weigh In

Several research firms recently commented on COLB. JPMorgan Chase & Co. cut their target price on shares of Columbia Banking System from $29.00 to $28.00 and set a "neutral" rating for the company in a research note on Wednesday, October 9th. StockNews.com upgraded shares of Columbia Banking System from a "sell" rating to a "hold" rating in a research note on Saturday, October 5th. Wells Fargo & Company boosted their price target on Columbia Banking System from $28.00 to $30.00 and gave the company an "equal weight" rating in a research note on Friday, October 25th. Raymond James lifted their price objective on Columbia Banking System from $26.00 to $28.00 and gave the stock an "outperform" rating in a report on Wednesday, October 2nd. Finally, Truist Financial upped their target price on Columbia Banking System from $28.00 to $30.00 and gave the company a "hold" rating in a research note on Monday, October 28th. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Columbia Banking System presently has an average rating of "Hold" and a consensus price target of $27.12.

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.