D.A. Davidson & CO. lessened its holdings in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 26.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 146,248 shares of the financial services provider's stock after selling 51,875 shares during the period. D.A. Davidson & CO. owned about 0.07% of Columbia Banking System worth $3,950,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Sanctuary Advisors LLC purchased a new stake in shares of Columbia Banking System in the 3rd quarter worth approximately $288,000. Nordea Investment Management AB lifted its holdings in Columbia Banking System by 82.0% during the fourth quarter. Nordea Investment Management AB now owns 391,286 shares of the financial services provider's stock valued at $10,592,000 after purchasing an additional 176,334 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Columbia Banking System by 15.7% during the third quarter. JPMorgan Chase & Co. now owns 716,673 shares of the financial services provider's stock valued at $18,712,000 after purchasing an additional 97,498 shares in the last quarter. Pathstone Holdings LLC lifted its holdings in Columbia Banking System by 45.7% during the third quarter. Pathstone Holdings LLC now owns 120,888 shares of the financial services provider's stock valued at $3,156,000 after purchasing an additional 37,941 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of Columbia Banking System by 439.5% in the third quarter. BNP Paribas Financial Markets now owns 79,877 shares of the financial services provider's stock worth $2,086,000 after buying an additional 65,072 shares in the last quarter. Hedge funds and other institutional investors own 92.53% of the company's stock.
Columbia Banking System Trading Down 2.0 %
Shares of COLB traded down $0.53 during trading hours on Friday, reaching $26.51. The company had a trading volume of 1,033,301 shares, compared to its average volume of 1,319,629. The firm has a 50 day simple moving average of $27.68 and a 200-day simple moving average of $27.24. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 10.44 and a beta of 0.66. Columbia Banking System, Inc. has a 12-month low of $17.08 and a 12-month high of $32.85.
Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its quarterly 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%. Sell-side analysts forecast that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.
Columbia Banking System Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.43%. Columbia Banking System's dividend payout ratio is presently 56.69%.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the stock. Barclays raised their price target on shares of 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. Citigroup reduced their target price on shares of Columbia Banking System from $31.00 to $30.00 and set a "neutral" rating on the stock in a research note on Monday, January 27th. Royal Bank of Canada lifted their target price on shares of Columbia Banking System from $29.00 to $31.00 and gave the stock a "sector perform" rating in a research note on Friday, October 25th. UBS Group started coverage on shares of Columbia Banking System in a research note on Tuesday, December 17th. They set a "neutral" rating and a $32.00 target price on the stock. Finally, Stephens reduced 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 note on Tuesday, January 28th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Columbia Banking System has an average rating of "Hold" and an average price target of $30.38.
Check Out Our Latest Analysis on COLB
About Columbia Banking System
(
Free Report)
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.
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