Gilman Hill Asset Management LLC reduced its holdings in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 4.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 274,350 shares of the financial services provider's stock after selling 12,505 shares during the quarter. Columbia Banking System accounts for about 1.3% of Gilman Hill Asset Management LLC's investment portfolio, making the stock its 20th largest position. Gilman Hill Asset Management LLC owned 0.13% of Columbia Banking System worth $7,410,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its stake in 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 in the last quarter. Wellington Management Group LLP raised its position in Columbia Banking System by 31.9% during the third quarter. Wellington Management Group LLP now owns 6,659,255 shares of the financial services provider's stock valued at $173,873,000 after purchasing an additional 1,611,563 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in 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 worth $63,295,000 after purchasing an additional 2,833,744 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in 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 worth $46,346,000 after purchasing an additional 36,867 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Columbia Banking System by 33.1% in the 3rd quarter. Janus Henderson Group PLC now owns 2,263,432 shares of the financial services provider's stock worth $59,099,000 after purchasing an additional 562,467 shares in the last quarter. Institutional investors own 92.53% of the company's stock.
Columbia Banking System Stock Up 1.6 %
Shares of COLB traded up $0.44 during trading hours on Monday, reaching $28.58. 1,314,373 shares of the company traded hands, compared to its average volume of 1,340,011. Columbia Banking System, Inc. has a 12 month low of $17.08 and a 12 month high of $32.85. The company has a market capitalization of $5.99 billion, a price-to-earnings ratio of 12.37 and a beta of 0.67. The company's fifty day moving average price is $29.05 and its two-hundred day moving average price is $26.48.
Columbia Banking System (NASDAQ:COLB - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.07. The company had revenue of $765.06 million for the quarter, compared to analyst estimates 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 period in the previous year, the company posted $0.79 earnings per share. On average, analysts expect that Columbia Banking System, Inc. will post 2.63 EPS for the current year.
Columbia Banking System Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.04%. The ex-dividend date was Friday, November 29th. Columbia Banking System's payout ratio is currently 62.34%.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on COLB shares. StockNews.com upgraded Columbia Banking System from a "sell" rating to a "hold" rating in a research report on Saturday, October 5th. Wedbush lifted their price target on shares of Columbia Banking System from $31.00 to $35.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Barclays upped their price objective on shares of Columbia Banking System from $29.00 to $33.00 and gave the company an "equal weight" rating in a research note on Thursday, December 5th. Keefe, Bruyette & Woods lifted their target price on shares of 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. Finally, Royal Bank of Canada boosted their price target 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. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $29.31.
View Our Latest Analysis on COLB
Columbia Banking System Profile
(
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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