Fmr LLC Trims Stake in Columbia Banking System, Inc. (NASDAQ:COLB)

FMR LLC trimmed its position in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 94.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,321 shares of the financial services provider's stock after selling 516,660 shares during the period. FMR LLC's holdings in Columbia Banking System were worth $766,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in COLB. Charles Schwab Investment Management Inc. grew its position in shares of Columbia Banking System by 2.6% in 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 buying an additional 178,327 shares during the period. American Century Companies Inc. grew its holdings in Columbia Banking System by 6.7% in 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 purchasing an additional 386,751 shares during the period. Bank of New York Mellon Corp increased its stake 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 valued at $93,851,000 after purchasing an additional 23,963 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Columbia Banking System by 812.2% during 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 purchasing an additional 2,833,744 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Columbia Banking System by 1.6% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,330,133 shares of the financial services provider's stock valued at $46,346,000 after purchasing an additional 36,867 shares during the last quarter. Institutional investors own 92.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on COLB. Truist Financial raised their price objective on Columbia Banking System from $28.00 to $30.00 and gave the company a "hold" rating in a research report on Monday, October 28th. Raymond James raised their price target on Columbia Banking System from $26.00 to $28.00 and gave the company an "outperform" rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods lifted their price target on Columbia Banking System from $30.00 to $34.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. cut 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 report on Wednesday, October 9th. Finally, Wells Fargo & Company lifted their target price on shares of Columbia Banking System from $30.00 to $33.00 and gave the stock an "equal weight" rating in a report on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $29.00.

Columbia Banking System Stock Down 6.4 %

COLB traded down $1.83 during mid-day trading on Wednesday, reaching $26.80. 2,019,065 shares of the company traded hands, compared to its average volume of 2,179,539. The stock has a market capitalization of $5.62 billion, a P/E ratio of 11.60 and a beta of 0.64. Columbia Banking System, Inc. has a 52-week low of $17.08 and a 52-week high of $32.85. The company's fifty day moving average price is $29.43 and its 200-day moving average price is $25.14.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.07. The company had revenue of $765.06 million during the quarter, compared to analysts' expectations 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 earned $0.79 earnings per share. As a group, sell-side analysts forecast that Columbia Banking System, Inc. will post 2.63 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date of this dividend was Friday, November 29th. Columbia Banking System's payout ratio is 62.34%.

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.