Corient Private Wealth LLC Decreases Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

Corient Private Wealth LLC decreased its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 47.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,092 shares of the financial services provider's stock after selling 22,188 shares during the quarter. Corient Private Wealth LLC's holdings in Columbia Banking System were worth $651,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in shares of Columbia Banking System during the 4th quarter worth $32,000. Smartleaf Asset Management LLC grew its holdings in shares of Columbia Banking System by 62.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,038 shares of the financial services provider's stock valued at $55,000 after purchasing an additional 780 shares during the period. Principal Securities Inc. increased its position in Columbia Banking System by 171.3% during the fourth 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 during the last quarter. Parkside Financial Bank & Trust raised its stake in Columbia Banking System by 36.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,977 shares of the financial services provider's stock worth $80,000 after purchasing an additional 801 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in Columbia Banking System by 22,244.4% in the 4th quarter. Larson Financial Group LLC now owns 6,033 shares of the financial services provider's stock valued at $163,000 after purchasing an additional 6,006 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company's stock.

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Columbia Banking System Price Performance

Shares of NASDAQ COLB traded up $0.37 during midday trading on Wednesday, hitting $25.12. The company's stock had a trading volume of 1,027,559 shares, compared to its average volume of 1,772,835. Columbia Banking System, Inc. has a 1 year low of $17.08 and a 1 year high of $32.85. The business's fifty day simple moving average is $26.32 and its two-hundred day simple moving average is $27.52. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of 9.89 and a beta of 0.62.

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 EPS for the quarter, topping the consensus estimate of $0.65 by $0.06. Columbia Banking System had a net margin of 17.99% and a return on equity of 11.21%. Analysts anticipate that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 5.73%. The ex-dividend date was Friday, February 28th. Columbia Banking System's dividend payout ratio is currently 56.69%.

Insider Activity

In related news, VP Torran B. Nixon sold 4,481 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $25.99, for a total transaction of $116,461.19. Following the sale, the vice president now directly owns 104,869 shares in the company, valued at approximately $2,725,545.31. This 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 the SEC website. Company insiders own 0.62% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on COLB shares. JPMorgan Chase & Co. cut their price target on shares of Columbia Banking System from $32.00 to $30.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Barclays raised their target price on Columbia Banking System from $29.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 5th. Wells Fargo & Company raised Columbia Banking System from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $33.00 to $35.00 in a research note on Monday, January 6th. UBS Group started coverage on shares of 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. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Columbia Banking System from $34.00 to $33.00 and set a "market perform" rating for the company in a research report on Friday, January 24th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Columbia Banking System presently has an average rating of "Hold" and a consensus price target of $31.25.

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.