D.A. Davidson & CO. Has $5.17 Million Stock Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

D.A. Davidson & CO. cut its position in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 13.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 198,123 shares of the financial services provider's stock after selling 31,738 shares during the period. D.A. Davidson & CO. owned about 0.09% of Columbia Banking System worth $5,173,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COLB. First Hawaiian Bank increased its stake in Columbia Banking System by 81.4% during the 2nd quarter. First Hawaiian Bank now owns 52,594 shares of the financial services provider's stock worth $1,046,000 after purchasing an additional 23,597 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Columbia Banking System by 1.6% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,330,133 shares of the financial services provider's stock worth $46,346,000 after purchasing an additional 36,867 shares in the last quarter. Pathstone Holdings LLC raised its position in Columbia Banking System by 45.7% in the 3rd quarter. Pathstone Holdings LLC now owns 120,888 shares of the financial services provider's stock valued at $3,156,000 after buying an additional 37,941 shares during the last quarter. Leuthold Group LLC bought a new position in shares of Columbia Banking System during the 3rd quarter worth approximately $3,181,000. Finally, Natixis Advisors LLC raised its holdings in shares of Columbia Banking System by 37.8% in the second quarter. Natixis Advisors LLC now owns 97,911 shares of the financial services provider's stock valued at $1,947,000 after purchasing an additional 26,877 shares during the last quarter. 92.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Columbia Banking System from $29.00 to $28.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 9th. Wells Fargo & Company boosted their price target on Columbia Banking System from $28.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Friday, October 25th. StockNews.com raised Columbia Banking System from a "sell" rating to a "hold" rating in a research report on Saturday, October 5th. Barclays boosted their target price on Columbia Banking System from $25.00 to $29.00 and gave the stock an "equal weight" rating in a report on Friday, October 25th. Finally, Wedbush raised their price target on Columbia Banking System from $31.00 to $35.00 and gave the company an "outperform" rating in a report on Friday, October 25th. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $27.12.

Columbia Banking System Trading Down 0.3 %

NASDAQ COLB traded down $0.10 during trading on Thursday, reaching $31.62. The company's stock had a trading volume of 940,274 shares, compared to its average volume of 2,230,215. Columbia Banking System, Inc. has a 12 month low of $17.08 and a 12 month high of $32.85. The firm has a 50 day moving average price of $28.20 and a 200 day moving average price of $24.06. The firm has a market capitalization of $6.63 billion, a price-to-earnings ratio of 13.69 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.07. The business had revenue of $765.06 million for the quarter, compared to the consensus estimate of $478.80 million. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. During the same quarter in the prior year, the business posted $0.79 earnings per share. On average, equities analysts forecast that Columbia Banking System, Inc. will post 2.63 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date is Friday, November 29th. Columbia Banking System's dividend payout ratio (DPR) is presently 62.34%.

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.