Kennedy Capital Management LLC Sells 20,097 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Kennedy Capital Management LLC trimmed its position in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 418,770 shares of the financial services provider's stock after selling 20,097 shares during the quarter. Kennedy Capital Management LLC owned 0.20% of Columbia Banking System worth $11,311,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Tidal Investments LLC boosted its holdings in Columbia Banking System by 1.1% in the 3rd quarter. Tidal Investments LLC now owns 43,184 shares of the financial services provider's stock worth $1,128,000 after acquiring an additional 464 shares during the period. Arizona State Retirement System grew its holdings in Columbia Banking System by 0.8% during the 4th quarter. Arizona State Retirement System now owns 60,758 shares of the financial services provider's stock valued at $1,641,000 after purchasing an additional 469 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Columbia Banking System by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 39,256 shares of the financial services provider's stock worth $1,025,000 after buying an additional 544 shares during the period. Treasurer of the State of North Carolina increased its stake in Columbia Banking System by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 91,679 shares of the financial services provider's stock worth $2,476,000 after buying an additional 580 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in Columbia Banking System by 2.0% in the 4th quarter. Pacer Advisors Inc. now owns 31,238 shares of the financial services provider's stock worth $844,000 after buying an additional 612 shares in the last quarter. 92.53% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other news, VP Torran B. Nixon sold 4,481 shares of Columbia Banking System stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $25.99, for a total value of $116,461.19. Following the transaction, the vice president now directly owns 104,869 shares in the company, valued at approximately $2,725,545.31. The trade was a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.62% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on COLB. UBS Group started coverage on shares of Columbia Banking System in a research report on Tuesday, December 17th. They set a "neutral" rating and a $32.00 price target for the company. Barclays reduced their price target on shares of Columbia Banking System from $33.00 to $27.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods reduced their target price on Columbia Banking System from $34.00 to $33.00 and set a "market perform" rating on the stock in a report on Friday, January 24th. Citigroup lowered their price target on Columbia Banking System from $31.00 to $30.00 and set a "neutral" rating for the company in a report on Monday, January 27th. Finally, Stephens reduced their price objective on 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. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $30.00.

Columbia Banking System Trading Up 2.3 %

Shares of Columbia Banking System stock traded up $0.50 on Tuesday, reaching $21.92. 1,210,448 shares of the company were exchanged, compared to its average volume of 1,784,100. The firm has a market capitalization of $4.61 billion, a price-to-earnings ratio of 8.63 and a beta of 0.53. Columbia Banking System, Inc. has a fifty-two week low of $17.08 and a fifty-two week high of $32.85. The stock has a fifty day moving average price of $24.98 and a 200-day moving average price of $27.21.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts anticipate that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a $0.36 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.44 dividend on an annualized basis and a yield of 6.57%. Columbia Banking System's payout ratio is presently 56.69%.

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.