Columbia Banking System, Inc. (NASDAQ:COLB) Position Trimmed by Phocas Financial Corp.

Phocas Financial Corp. cut its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 85.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,567 shares of the financial services provider's stock after selling 206,908 shares during the quarter. Phocas Financial Corp.'s holdings in Columbia Banking System were worth $988,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Los Angeles Capital Management LLC grew its holdings in shares of Columbia Banking System by 38.9% during the fourth quarter. Los Angeles Capital Management LLC now owns 225,058 shares of the financial services provider's stock valued at $6,079,000 after purchasing an additional 63,030 shares during the last quarter. FourThought Financial Partners LLC bought a new position in shares of Columbia Banking System during the fourth quarter valued at approximately $242,000. New York State Common Retirement Fund grew its holdings in shares of Columbia Banking System by 7.6% during the fourth quarter. New York State Common Retirement Fund now owns 647,094 shares of the financial services provider's stock valued at $17,478,000 after purchasing an additional 45,624 shares during the last quarter. Angel Oak Capital Advisors LLC bought a new position in shares of Columbia Banking System during the fourth quarter valued at approximately $837,000. Finally, Kestra Investment Management LLC grew its holdings in shares of Columbia Banking System by 17.0% during the fourth quarter. Kestra Investment Management LLC now owns 33,633 shares of the financial services provider's stock valued at $908,000 after purchasing an additional 4,885 shares during the last quarter. 92.53% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

COLB has been the subject of several recent research reports. Wells Fargo & Company raised Columbia Banking System from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $33.00 to $35.00 in a report on Monday, January 6th. Citigroup decreased their price objective 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. Keefe, Bruyette & Woods decreased their price objective on Columbia Banking System from $34.00 to $33.00 and set a "market perform" rating for the company in a report on Friday, January 24th. Barclays increased their price objective on Columbia Banking System from $29.00 to $33.00 and gave the stock an "equal weight" rating in a report on Thursday, December 5th. Finally, Stephens decreased their price objective on Columbia Banking System from $33.00 to $31.00 and set an "equal weight" rating for the company in a report on Tuesday, January 28th. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Columbia Banking System presently has an average rating of "Hold" and a consensus target price of $30.38.

Columbia Banking System Stock Up 0.2 %

NASDAQ COLB traded up $0.06 on Friday, reaching $26.73. 1,614,439 shares of the stock traded hands, compared to its average volume of 1,382,570. The firm's fifty day simple moving average is $27.51 and its 200 day simple moving average is $27.38. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 10.52 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 data on Thursday, January 23rd. The financial services provider reported $0.71 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.06. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. As a group, equities research analysts forecast that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, February 28th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.39%. Columbia Banking System's dividend payout ratio (DPR) is presently 56.69%.

Columbia Banking System 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.